Summit Financial LLC trimmed its holdings in shares of Energy Transfer LP Unit (NYSE:ET) by 4.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 49,419 shares of the pipeline company’s stock after selling 2,531 shares during the period. Energy Transfer LP Unit comprises 0.1% of Summit Financial LLC’s holdings, making the stock its 28th largest position. Summit Financial LLC’s holdings in Energy Transfer LP Unit were worth $696,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the company. Colorado Capital Management Inc. bought a new position in Energy Transfer LP Unit during the 1st quarter worth approximately $209,000. SeaBridge Investment Advisors LLC bought a new stake in shares of Energy Transfer LP Unit in the 1st quarter worth approximately $257,000. UMB Bank N A MO bought a new stake in shares of Energy Transfer LP Unit in the 1st quarter worth approximately $1,771,000. Heronetta Management L.P. bought a new stake in shares of Energy Transfer LP Unit in the 1st quarter worth approximately $20,824,000. Finally, Janney Montgomery Scott LLC bought a new stake in shares of Energy Transfer LP Unit in the 1st quarter worth approximately $5,657,000. Institutional investors own 57.41% of the company’s stock.

In other Energy Transfer LP Unit news, Director Michael K. Grimm bought 3,888 shares of the business’s stock in a transaction on Friday, June 14th. The shares were purchased at an average price of $14.14 per share, with a total value of $54,976.32. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Thomas P. Mason sold 75,000 shares of Energy Transfer LP Unit stock in a transaction 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 disclosure for this sale can be found here. 3.28% of the stock is owned by insiders.

Several analysts recently issued reports on ET shares. Evercore ISI set a $18.00 price target on Energy Transfer LP Unit and gave the stock a “buy” rating in a report on Wednesday, August 7th. Citigroup set a $20.00 price target on Energy Transfer LP Unit and gave the stock a “buy” rating in a report on Monday. Wells Fargo & Co raised their price target on Energy Transfer LP Unit from $21.00 to $22.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. ValuEngine raised Energy Transfer LP Unit from a “strong sell” rating to a “sell” rating in a report on Wednesday, July 17th. Finally, Piper Jaffray Companies started coverage on Energy Transfer LP Unit in a report on Wednesday, July 17th. They issued an “overweight” rating and a $22.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $19.67.

Energy Transfer LP Unit stock traded down $0.09 during mid-day trading on Thursday, hitting $13.05. 463,091 shares of the company’s stock traded hands, compared to its average volume of 11,298,534. The company has a 50 day moving average price of $14.39. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.81 and a current ratio of 1.06. The firm has a market cap of $35.10 billion, a P/E ratio of 11.34 and a beta of 1.54. Energy Transfer LP Unit has a one year low of $11.68 and a one year 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 for the quarter, missing the consensus estimate of $0.36 by ($0.03). The business had revenue of $13.88 billion for the quarter, compared to the consensus estimate of $14.49 billion. Energy Transfer LP Unit had a net margin of 4.99% and a return on equity of 9.18%. The firm’s quarterly revenue was down 1.7% on a year-over-year basis. Sell-side analysts forecast that Energy Transfer LP Unit will post 1.44 earnings per share for the current 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 paid a dividend of $0.305 per share. This represents a $1.22 annualized dividend and a yield of 9.35%. The ex-dividend date of this dividend is Monday, August 5th. Energy Transfer LP Unit’s payout ratio is currently 106.09%.

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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