Sterling Investment Advisors Ltd. acquired a new stake in Energy Transfer LP Unit (NYSE:ET) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 13,503 shares of the pipeline company’s stock, valued at approximately $208,000.
Several other large investors have also recently bought and sold shares of ET. C.V. Starr & Co. Inc. Trust bought a new position in Energy Transfer LP Unit during the first quarter worth $22,317,000. Heronetta Management L.P. bought a new position in Energy Transfer LP Unit during the first quarter worth $20,824,000. First Republic Investment Management Inc. bought a new position in Energy Transfer LP Unit during the first quarter worth $18,680,000. Starr International Co. Inc. bought a new position in Energy Transfer LP Unit during the first quarter worth $8,435,000. Finally, Janney Montgomery Scott LLC acquired a new position in Energy Transfer LP Unit during the first quarter worth $5,657,000. 56.16% of the stock is currently owned by institutional investors.
Several research analysts have weighed in on ET shares. ValuEngine upgraded shares of Energy Transfer LP Unit from a “strong sell” rating to a “sell” rating in a report on Saturday, January 5th. Evercore ISI started coverage on shares of Energy Transfer LP Unit in a report on Tuesday, February 5th. They set an “outperform” rating on the stock. Zacks Investment Research downgraded shares of Energy Transfer LP Unit from a “buy” rating to a “hold” rating in a report on Friday, April 26th. TheStreet upgraded shares of Energy Transfer LP Unit from a “c+” rating to a “b” rating in a report on Thursday, February 21st. Finally, Stifel Nicolaus restated a “buy” rating and set a $20.00 price objective on shares of Energy Transfer LP Unit in a report on Thursday, February 21st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Energy Transfer LP Unit has a consensus rating of “Buy” and an average price target of $19.20.
Energy Transfer LP Unit (NYSE:ET) last announced its earnings results on Wednesday, February 20th. The pipeline company reported $0.26 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.30 by ($0.04). The firm had revenue of $13.57 billion during the quarter, compared to analysts’ expectations of $14.67 billion. Energy Transfer LP Unit had a net margin of 3.18% and a return on equity of 6.15%. The company’s quarterly revenue was up 18.5% compared to the same quarter last year. On average, equities research analysts anticipate that Energy Transfer LP Unit will post 1.43 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, May 20th. Stockholders of record on Tuesday, May 7th will be issued a $0.305 dividend. The ex-dividend date is Monday, May 6th. This represents a $1.22 annualized dividend and a dividend yield of 7.94%. Energy Transfer LP Unit’s dividend payout ratio is currently 106.09%.
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Energy Transfer LP Unit 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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