Energy Transfer LP Unit (NYSE:ET) Holdings Boosted by Renaissance Technologies LLC

Renaissance Technologies LLC increased its holdings in Energy Transfer LP Unit (NYSE:ET) by 343.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,541,385 shares of the pipeline company’s stock after acquiring an additional 2,742,100 shares during the period. Renaissance Technologies LLC’s holdings in Energy Transfer LP Unit were worth $49,863,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Westside Investment Management Inc. bought a new position in shares of Energy Transfer LP Unit in the second quarter valued at approximately $1,981,000. Focused Wealth Management Inc bought a new stake in shares of Energy Transfer LP Unit in the first quarter valued at about $25,000. Meridian Wealth Management LLC acquired a new stake in Energy Transfer LP Unit during the first quarter worth about $28,000. First Personal Financial Services acquired a new stake in shares of Energy Transfer LP Unit during the 2nd quarter worth approximately $27,000. Finally, OLD Second National Bank of Aurora bought a new stake in Energy Transfer LP Unit in the 2nd quarter valued at $27,000. 57.70% of the stock is owned by institutional investors and hedge funds.

A number of brokerages have weighed in on ET. Raymond James reiterated an “average” rating and issued a $19.00 price target on shares of Energy Transfer LP Unit in a research report on Friday, September 6th. Piper Jaffray Companies began coverage on shares of Energy Transfer LP Unit in a report on Wednesday, July 17th. They set an “overweight” rating and a $22.00 price objective on the stock. ValuEngine cut Energy Transfer LP Unit from a “sell” rating to a “strong sell” rating in a research note on Friday, September 6th. Citigroup set a $20.00 target price on shares of Energy Transfer LP Unit and gave the company a “buy” rating in a research report on Monday, August 12th. Finally, Wells Fargo & Co lifted their target price on shares of Energy Transfer LP Unit from $21.00 to $22.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $19.44.

In other Energy Transfer LP Unit news, EVP Thomas P. Mason sold 75,000 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $13.97, for a total transaction of $1,047,750.00. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Michael K. Grimm purchased 3,888 shares of the business’s stock in a transaction on Friday, June 14th. The stock was bought at an average cost of $14.14 per share, for a total transaction of $54,976.32. The disclosure for this purchase can be found here. Insiders own 3.28% of the company’s stock.

ET traded down $0.04 during mid-day trading on Wednesday, hitting $13.91. The stock had a trading volume of 225,330 shares, compared to its average volume of 8,972,070. The stock’s fifty day simple moving average is $13.78 and its 200-day simple moving average is $14.60. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.12 and a quick ratio of 0.83. The firm has a market capitalization of $36.65 billion, a price-to-earnings ratio of 12.07 and a beta of 1.51. Energy Transfer LP Unit has a 1-year low of $11.68 and a 1-year high of $18.17.

Energy Transfer LP Unit (NYSE:ET) last announced its quarterly earnings results on Wednesday, August 7th. The pipeline company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.03). Energy Transfer LP Unit had a net margin of 4.99% and a return on equity of 9.10%. The firm had revenue of $13.88 billion during the quarter, compared to analyst estimates of $14.49 billion. Energy Transfer LP Unit’s revenue for the quarter was down 1.7% on a year-over-year basis. As a group, research analysts expect that Energy Transfer LP Unit will post 1.39 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Tuesday, August 6th were issued a dividend of $0.305 per share. The ex-dividend date of this dividend was Monday, August 5th. This represents a $1.22 annualized dividend and a yield of 8.77%. Energy Transfer LP Unit’s dividend payout ratio is presently 106.09%.

About Energy Transfer LP Unit

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.

Further Reading: Why is the ex-dividend date different from the record date?

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Institutional Ownership by Quarter for Energy Transfer LP Unit (NYSE:ET)

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