Institutional & Family Asset Management LLC Acquires New Holdings in Energy Transfer LP Unit (NYSE:ET)

Institutional & Family Asset Management LLC bought a new position in Energy Transfer LP Unit (NYSE:ET) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 117,387 shares of the pipeline company’s stock, valued at approximately $1,804,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. OppenheimerFunds Inc. bought a new position in Energy Transfer LP Unit during the first quarter valued at approximately $938,384,000. Alps Advisors Inc. bought a new position in Energy Transfer LP Unit during the first quarter valued at approximately $928,701,000. Kayne Anderson Capital Advisors LP bought a new position in Energy Transfer LP Unit during the first quarter valued at approximately $660,951,000. CIBC Private Wealth Group LLC bought a new position in Energy Transfer LP Unit during the first quarter valued at approximately $624,075,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in Energy Transfer LP Unit during the first quarter valued at approximately $375,265,000. Institutional investors own 56.97% of the company’s stock.

In related news, Director Michael K. Grimm acquired 3,888 shares of the stock in a transaction dated Friday, June 14th. The shares were acquired at an average price of $14.14 per share, for a total transaction of $54,976.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Thomas P. Mason sold 75,000 shares of the firm’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $13.97, for a total transaction of $1,047,750.00. The disclosure for this sale can be found here. Company insiders own 3.28% of the company’s stock.

Shares of NYSE:ET traded up $0.06 during trading on Friday, reaching $14.08. The stock had a trading volume of 11,733,188 shares, compared to its average volume of 10,795,871. Energy Transfer LP Unit has a 52 week low of $11.68 and a 52 week high of $19.19. The stock has a market capitalization of $36.72 billion, a price-to-earnings ratio of 12.24 and a beta of 1.65. The company has a debt-to-equity ratio of 1.52, a current ratio of 1.06 and a quick ratio of 0.81. The firm’s fifty day moving average is $14.38.

Energy Transfer LP Unit (NYSE:ET) last announced its quarterly earnings data on Wednesday, May 8th. The pipeline company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.01. The business had revenue of $13.12 billion for the quarter, compared to the consensus estimate of $14.39 billion. Energy Transfer LP Unit had a net margin of 4.03% and a return on equity of 7.61%. The company’s revenue was up 10.4% on a year-over-year basis. On average, equities analysts expect that Energy Transfer LP Unit will post 1.37 earnings per share for the current fiscal year.

ET has been the topic of several recent research reports. ValuEngine raised shares of Energy Transfer LP Unit from a “sell” rating to a “hold” rating in a research report on Tuesday, March 19th. Raymond James raised shares of 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 shares of Energy Transfer LP Unit from a “hold” rating to a “buy” rating and set a $17.00 price target on the stock in a research report on Wednesday, April 17th. Finally, Citigroup lifted their price target on shares of 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 equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $19.08.

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

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