Energy Transfer LP Unit (NYSE:ET) Position Trimmed by Keybank National Association OH

Keybank National Association OH lessened its holdings in shares of Energy Transfer LP Unit (NYSE:ET) by 3.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 181,636 shares of the pipeline company’s stock after selling 5,910 shares during the quarter. Keybank National Association OH’s holdings in Energy Transfer LP Unit were worth $2,557,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Focused Wealth Management Inc purchased a new position in Energy Transfer LP Unit during the 1st quarter valued at about $25,000. OLD Second National Bank of Aurora bought a new stake in shares of Energy Transfer LP Unit in the 2nd quarter valued at approximately $27,000. First Personal Financial Services bought a new stake in shares of Energy Transfer LP Unit in the 2nd quarter valued at approximately $27,000. Meridian Wealth Management LLC bought a new stake in shares of Energy Transfer LP Unit in the 1st quarter valued at approximately $28,000. Finally, Rocky Mountain Advisers LLC bought a new stake in shares of Energy Transfer LP Unit in the 2nd quarter valued at approximately $28,000. 57.41% of the stock is currently owned by institutional investors.

In other Energy Transfer LP Unit news, EVP Thomas P. Mason sold 75,000 shares of the company’s stock in a transaction that occurred 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael K. Grimm purchased 3,888 shares of the business’s stock in a transaction dated Friday, June 14th. The shares were acquired 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. 3.28% of the stock is owned by corporate insiders.

Several brokerages recently commented on ET. Raymond James reissued an “average” rating and issued a $19.00 price target on shares of Energy Transfer LP Unit in a research note on Friday, June 21st. Piper Jaffray Companies began coverage on Energy Transfer LP Unit in a research note on Wednesday, July 17th. They issued an “overweight” rating and a $22.00 price target for the company. Wells Fargo & Co boosted their price target on Energy Transfer LP Unit from $21.00 to $22.00 and gave the company an “outperform” rating in a research note on Friday, August 9th. Zacks Investment Research cut Energy Transfer LP Unit from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th. Finally, ValuEngine raised Energy Transfer LP Unit from a “strong sell” rating to a “sell” rating in a research note on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $19.67.

Energy Transfer LP Unit stock traded up $0.26 during trading hours on Friday, reaching $13.35. 4,484,583 shares of the company were exchanged, compared to its average volume of 11,456,361. The firm has a market cap of $34.57 billion, a price-to-earnings ratio of 11.61 and a beta of 1.54. The company has a current ratio of 1.12, a quick ratio of 0.81 and a debt-to-equity ratio of 1.48. The stock has a 50-day moving average of $14.36 and a 200 day moving average of $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 announced its earnings results on Wednesday, August 7th. The pipeline company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). The company had revenue of $13.88 billion for the quarter, compared to the consensus estimate of $14.49 billion. Energy Transfer LP Unit had a return on equity of 9.10% and a net margin of 4.99%. The firm’s quarterly revenue was down 1.7% compared to the same quarter last year. As a group, research analysts forecast that Energy Transfer LP Unit will post 1.44 EPS for the current year.

The business 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. The ex-dividend date is Monday, August 5th. This represents a $1.22 dividend on an annualized basis and a yield of 9.14%. Energy Transfer LP Unit’s payout ratio is currently 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.

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

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