Global Wealth Management Investment Advisory Inc. acquired a new position in shares of Energy Transfer LP Unit (NYSE:ET) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 2,188 shares of the pipeline company’s stock, valued at approximately $34,000.
A number of other institutional investors and hedge funds have also recently made changes to their positions in ET. Focused Wealth Management Inc bought a new stake in shares of Energy Transfer LP Unit during the first quarter valued at about $25,000. Global Retirement Partners LLC bought a new stake in shares of Energy Transfer LP Unit during the first quarter valued at about $32,000. Shamrock Asset Management LLC acquired a new position in Energy Transfer LP Unit during the first quarter worth about $36,000. First Interstate Bank acquired a new position in Energy Transfer LP Unit during the first quarter worth about $44,000. Finally, Parallel Advisors LLC acquired a new position in Energy Transfer LP Unit during the first quarter worth about $44,000. Hedge funds and other institutional investors own 56.97% of the company’s stock.
In related news, Director Michael K. Grimm acquired 3,888 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The stock was acquired at an average price of $14.14 per share, for a total transaction of $54,976.32. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Thomas P. Mason sold 75,000 shares of the company’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $13.97, for a total value of $1,047,750.00. The disclosure for this sale can be found here. Corporate insiders own 3.28% of the company’s stock.
A number of research analysts recently issued reports on the company. Raymond James reaffirmed an “average” rating and set a $19.00 target price on shares of Energy Transfer LP Unit in a report on Friday, June 21st. Zacks Investment Research raised Energy Transfer LP Unit from a “hold” rating to a “buy” rating and set a $17.00 target price on the stock in a report on Monday, May 13th. ValuEngine raised Energy Transfer LP Unit from a “sell” rating to a “hold” rating in a research note on Tuesday, March 19th. Finally, Citigroup lifted their price target on Energy Transfer LP Unit from $16.00 to $19.50 and gave the stock a “buy” rating in a research note on Wednesday, May 8th. One analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $19.08.
Energy Transfer LP Unit stock traded up $0.17 on Wednesday, reaching $14.15. The company’s stock had a trading volume of 11,743,700 shares, compared to its average volume of 10,808,612. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.81 and a current ratio of 1.06. The stock has a market capitalization of $36.93 billion, a P/E ratio of 12.30 and a beta of 1.65. The company’s fifty day moving average is $14.42. Energy Transfer LP Unit has a twelve month low of $11.68 and a twelve month high of $19.19.
Energy Transfer LP Unit (NYSE:ET) last issued its quarterly earnings results on Wednesday, May 8th. The pipeline company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.01. Energy Transfer LP Unit had a return on equity of 7.61% and a net margin of 4.03%. The business had revenue of $13.12 billion for the quarter, compared to analyst estimates of $14.39 billion. The business’s revenue for the quarter was up 10.4% compared to the same quarter last year. As a group, equities research analysts forecast that Energy Transfer LP Unit will post 1.37 earnings per share for the current year.
Energy Transfer LP Unit Company Profile
Energy Transfer LP provides energy-related services in the United States and China. The company owns and operates approximately 9,400 miles of natural gas transportation pipelines and three natural gas storage facilities in Texas; and approximately 12,200 miles of interstate natural gas pipelines. It sells natural gas to electric utilities, independent power plants, local distribution companies, industrial end-users, and other marketing companies.
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