Usca Ria LLC Boosts Position in Energy Transfer LP Unit (NYSE:ET)

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Usca Ria LLC increased its stake in Energy Transfer LP Unit (NYSE:ET) by 15.9% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 95,775 shares of the pipeline company’s stock after acquiring an additional 13,169 shares during the quarter. Usca Ria LLC’s holdings in Energy Transfer LP Unit were worth $1,349,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Focused Wealth Management Inc purchased a new position in Energy Transfer LP Unit in the 1st quarter worth about $25,000. OLD Second National Bank of Aurora purchased a new position in Energy Transfer LP Unit in the 2nd quarter worth about $27,000. First Personal Financial Services purchased a new position in Energy Transfer LP Unit in the 2nd quarter worth about $27,000. Meridian Wealth Management LLC purchased a new position in Energy Transfer LP Unit in the 1st quarter worth about $28,000. Finally, Rocky Mountain Advisers LLC purchased a new position in Energy Transfer LP Unit in the 2nd quarter worth about $28,000. 57.41% of the stock is currently owned by institutional investors.

NYSE ET traded up $0.38 during trading on Friday, reaching $13.47. 11,339,400 shares of the company’s stock traded hands, compared to its average volume of 11,686,900. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.12 and a quick ratio of 0.81. The firm has a market cap of $34.34 billion, a price-to-earnings ratio of 11.71 and a beta of 1.54. The company’s 50 day simple moving average is $14.35 and its two-hundred day simple moving average is $14.78. Energy Transfer LP Unit has a 12-month low of $11.68 and a 12-month high of $18.38.

Energy Transfer LP Unit (NYSE:ET) last posted its earnings results on Wednesday, August 7th. The pipeline company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). The business had revenue of $13.88 billion for the quarter, compared to analysts’ expectations of $14.49 billion. Energy Transfer LP Unit had a net margin of 4.99% and a return on equity of 9.10%. Energy Transfer LP Unit’s revenue for the quarter was down 1.7% on a year-over-year basis. Research analysts expect that Energy Transfer LP Unit will post 1.45 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 19th. Shareholders of record on Tuesday, August 6th will be given a dividend of $0.305 per share. This represents a $1.22 dividend on an annualized basis and a yield of 9.06%. The ex-dividend date is Monday, August 5th. Energy Transfer LP Unit’s dividend payout ratio (DPR) is 106.09%.

In other 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 shares were 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 SEC, which is accessible through this hyperlink. Also, Director Michael K. Grimm acquired 3,888 shares of the business’s stock in a transaction dated Friday, June 14th. The stock was purchased 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. Company insiders own 3.28% of the company’s stock.

Several research analysts recently commented on ET shares. ValuEngine raised shares of Energy Transfer LP Unit from a “strong sell” rating to a “sell” rating in a research note on Wednesday, July 17th. Evercore ISI set a $18.00 price target on shares of Energy Transfer LP Unit and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Piper Jaffray Companies initiated coverage on shares of Energy Transfer LP Unit in a research report on Wednesday, July 17th. They set an “overweight” rating and a $22.00 target price on the stock. Raymond James reissued an “average” rating and set a $19.00 target price on shares of Energy Transfer LP Unit in a research report on Friday, June 21st. Finally, Wells Fargo & Co raised their target price on shares of Energy Transfer LP Unit from $21.00 to $22.00 and gave the company an “outperform” rating in a research report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $19.67.

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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