Van Cleef Asset Management Inc acquired a new stake in shares of Energy Transfer LP Unit (NYSE:ET) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 12,800 shares of the pipeline company’s stock, valued at approximately $197,000.
A number of other institutional investors and hedge funds also recently bought and sold shares of ET. Private Advisor Group LLC acquired a new stake in shares of Energy Transfer LP Unit during the first quarter worth $2,409,000. ProVise Management Group LLC acquired a new stake in shares of Energy Transfer LP Unit during the first quarter worth $323,000. Actinver Wealth Management Inc. acquired a new stake in shares of Energy Transfer LP Unit during the first quarter worth $191,000. RiverGlades Family Offices LLC acquired a new stake in shares of Energy Transfer LP Unit during the first quarter worth $429,000. Finally, Orinda Asset Management LLC purchased a new position in shares of Energy Transfer LP Unit in the 1st quarter worth $3,092,000. 56.97% of the stock is owned by hedge funds and other institutional investors.
Several research analysts have commented on the company. ValuEngine raised Energy Transfer LP Unit from a “sell” rating to a “hold” rating in a research report on Tuesday, March 19th. Raymond James raised Energy Transfer LP Unit from an “outperform” rating to a “strong-buy” rating in a research report on Tuesday, April 16th. Zacks Investment Research raised Energy Transfer LP Unit from a “hold” rating to a “buy” rating and set a $17.00 price objective on the stock in a research report on Wednesday, April 17th. Finally, Citigroup raised their price objective on Energy Transfer LP Unit from $16.00 to $19.50 and gave the company a “buy” rating in a research report on Wednesday, May 8th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company. Energy Transfer LP Unit has an average rating of “Buy” and an average price target of $19.08.
Energy Transfer LP Unit (NYSE:ET) last posted its quarterly earnings results on Wednesday, May 8th. The pipeline company reported $0.37 EPS for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.01. The business had revenue of $13.12 billion during the quarter, compared to the consensus estimate of $14.39 billion. Energy Transfer LP Unit had a return on equity of 7.61% and a net margin of 4.03%. Energy Transfer LP Unit’s revenue for the quarter was up 10.4% compared to the same quarter last year. As a group, analysts predict that Energy Transfer LP Unit will post 1.37 EPS for the current fiscal year.
In other Energy Transfer LP Unit news, EVP Thomas P. Mason sold 75,000 shares of Energy Transfer LP Unit stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $13.97, for a total value of $1,047,750.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael K. Grimm bought 3,888 shares of the firm’s stock in a transaction on Friday, June 14th. The stock was bought at an average price of $14.14 per share, with a total value of $54,976.32. The disclosure for this purchase can be found here. Insiders own 3.28% of the company’s stock.
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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