Sigma Planning Corp Sells 3,401 Shares of Energy Transfer LP Unit (NYSE:ET)

Sigma Planning Corp lowered its position in Energy Transfer LP Unit (NYSE:ET) by 8.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 36,590 shares of the pipeline company’s stock after selling 3,401 shares during the period. Sigma Planning Corp’s holdings in Energy Transfer LP Unit were worth $515,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of ET. Tortoise Capital Advisors L.L.C. bought a new position in Energy Transfer LP Unit in the 1st quarter worth approximately $1,417,810,000. OppenheimerFunds Inc. bought a new position in Energy Transfer LP Unit in the 1st quarter worth approximately $938,384,000. Alps Advisors Inc. bought a new stake in shares of Energy Transfer LP Unit during the 1st quarter valued at $928,701,000. Kayne Anderson Capital Advisors LP bought a new stake in shares of Energy Transfer LP Unit during the 1st quarter valued at $660,951,000. Finally, CIBC Private Wealth Group LLC bought a new stake in shares of Energy Transfer LP Unit during the 1st quarter valued at $624,075,000. Institutional investors own 56.13% of the company’s stock.

Shares of NYSE ET opened at $13.73 on Tuesday. The firm has a market cap of $36.25 billion, a PE ratio of 11.93 and a beta of 1.54. The company has a current ratio of 1.12, a quick ratio of 0.83 and a debt-to-equity ratio of 1.48. Energy Transfer LP Unit has a 1-year low of $11.68 and a 1-year high of $18.38. The company has a fifty day moving average price of $14.32 and a 200 day moving average price of $14.76.

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 Zacks’ consensus estimate of $0.36 by ($0.03). The company had revenue of $13.88 billion during the quarter, compared to analyst estimates 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 revenue was down 1.7% on a year-over-year basis. Equities research analysts forecast that Energy Transfer LP Unit will post 1.45 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Tuesday, August 6th were paid a $0.305 dividend. This represents a $1.22 dividend on an annualized basis and a yield of 8.89%. The ex-dividend date of this dividend was Monday, August 5th. Energy Transfer LP Unit’s payout ratio is presently 106.09%.

In other Energy Transfer LP Unit news, Director Michael K. Grimm purchased 3,888 shares of the business’s stock in a transaction on Friday, June 14th. The shares were purchased at an average cost of $14.14 per share, with a total value of $54,976.32. The purchase 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 the business’s stock in a transaction dated 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. 3.28% of the stock is currently owned by corporate insiders.

Several brokerages have commented on ET. ValuEngine upgraded shares of Energy Transfer LP Unit from a “strong sell” rating to a “sell” rating in a research report on Wednesday, July 17th. Evercore ISI set a $18.00 target price on shares of Energy Transfer LP Unit and gave the company a “buy” rating in a research report on Wednesday, August 7th. Citigroup set a $20.00 target price on shares of Energy Transfer LP Unit and gave the company a “buy” rating in a research report on Monday, August 12th. Piper Jaffray Companies started coverage on shares of Energy Transfer LP Unit in a report on Wednesday, July 17th. They issued an “overweight” rating and a $22.00 price target for the company. Finally, Zacks Investment Research lowered shares of Energy Transfer LP Unit from a “buy” rating to a “hold” rating in a report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target 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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