HITE Hedge Asset Management LLC acquired a new position in Energy Transfer LP Unit (NYSE:ET) in the 1st quarter, HoldingsChannel.com reports. The firm acquired 2,429,029 shares of the pipeline company’s stock, valued at approximately $37,334,000. Energy Transfer LP Unit makes up 5.9% of HITE Hedge Asset Management LLC’s holdings, making the stock its 5th biggest holding.

A number of other institutional investors and hedge funds also recently modified their holdings of ET. Focused Wealth Management Inc purchased a new position in shares of Energy Transfer LP Unit during the first quarter valued at approximately $25,000. Global Retirement Partners LLC purchased a new position in shares of Energy Transfer LP Unit during the first quarter valued at approximately $32,000. Global Wealth Management Investment Advisory Inc. purchased a new position in shares of Energy Transfer LP Unit during the first quarter valued at approximately $34,000. Shamrock Asset Management LLC purchased a new position in shares of Energy Transfer LP Unit during the first quarter valued at approximately $36,000. Finally, Parallel Advisors LLC purchased a new position in shares of Energy Transfer LP Unit during the first quarter valued at approximately $44,000. Institutional investors and hedge funds own 57.11% of the company’s stock.

Several equities analysts have recently issued reports on ET shares. Zacks Investment Research lowered shares of Energy Transfer LP Unit from a “buy” rating to a “hold” rating in a report on Friday, April 26th. Citigroup lifted their target price on shares of Energy Transfer LP Unit from $16.00 to $19.50 and gave the company a “buy” rating in a report on Wednesday, May 8th. TheStreet upgraded shares of Energy Transfer LP Unit from a “c+” rating to a “b” rating in a report on Thursday, February 21st. ValuEngine lowered shares of Energy Transfer LP Unit from a “hold” rating to a “sell” rating in a report on Monday, April 15th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $20.00 target price on shares of Energy Transfer LP Unit in a report on Thursday, February 21st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $19.25.

Shares of ET traded down $0.05 on Wednesday, hitting $14.27. 233,148 shares of the stock traded hands, compared to its average volume of 10,830,833. The company has a market capitalization of $37.33 billion, a P/E ratio of 12.42 and a beta of 1.64. The company has a quick ratio of 0.81, a current ratio of 1.06 and a debt-to-equity ratio of 1.52. Energy Transfer LP Unit has a one year low of $11.68 and a one year high of $19.19.

Energy Transfer LP Unit (NYSE:ET) last announced its quarterly earnings results on Wednesday, May 8th. The pipeline company reported $0.37 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.01. The company had revenue of $13.12 billion during 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 business’s revenue for the quarter was up 10.4% compared to the same quarter last year. On average, sell-side analysts expect that Energy Transfer LP Unit will post 1.37 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Monday, May 20th. Investors of record on Tuesday, May 7th were given a dividend of $0.305 per share. This represents a $1.22 annualized dividend and a dividend yield of 8.55%. The ex-dividend date of this dividend was Monday, May 6th. Energy Transfer LP Unit’s dividend payout ratio (DPR) is currently 106.09%.

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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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