Carnegie Capital Asset Management LLC lessened its holdings in Energy Transfer LP Unit (NYSE:ET) by 28.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 35,664 shares of the pipeline company’s stock after selling 14,288 shares during the period. Carnegie Capital Asset Management LLC’s holdings in Energy Transfer LP Unit were worth $166,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also bought and sold shares of the company. grace capital bought a new stake in Energy Transfer LP Unit in the 4th quarter valued at $25,000. 1776 Wealth LLC raised its stake in Energy Transfer LP Unit by 61.5% in the 1st quarter. 1776 Wealth LLC now owns 5,443 shares of the pipeline company’s stock valued at $25,000 after acquiring an additional 2,073 shares during the period. Great Diamond Partners LLC acquired a new position in Energy Transfer LP Unit in the 4th quarter valued at $26,000. TRUE Private Wealth Advisors acquired a new position in Energy Transfer LP Unit in the 4th quarter valued at $28,000. Finally, Bartlett & Co. LLC acquired a new position in Energy Transfer LP Unit in the 1st quarter valued at $28,000. Institutional investors and hedge funds own 52.29% of the company’s stock.
ET opened at $8.20 on Friday. The firm has a market cap of $22.00 billion, a P/E ratio of 6.49 and a beta of 2.72. Energy Transfer LP Unit has a 52-week low of $3.75 and a 52-week high of $15.26. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.66 and a current ratio of 0.83. The business’s fifty day moving average is $6.79 and its 200-day moving average is $10.25.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 19th. Investors of record on Thursday, May 7th were given a dividend of $0.305 per share. The ex-dividend date of this dividend was Wednesday, May 6th. This represents a $1.22 annualized dividend and a dividend yield of 14.88%. Energy Transfer LP Unit’s dividend payout ratio is currently 84.14%.
A number of brokerages have commented on ET. Barclays lowered Energy Transfer LP Unit from an “overweight” rating to an “equal weight” rating and set a $7.00 price objective on the stock. in a report on Tuesday, March 24th. Wells Fargo & Co decreased their price objective on Energy Transfer LP Unit from $13.00 to $12.00 and set an “overweight” rating on the stock in a report on Tuesday, April 14th. UBS Group decreased their price objective on Energy Transfer LP Unit from $16.00 to $15.00 and set a “buy” rating on the stock in a report on Friday, April 3rd. Raymond James decreased their price objective on Energy Transfer LP Unit from $16.00 to $11.00 and set a “strong-buy” rating on the stock in a report on Thursday, March 12th. Finally, Robert W. Baird lowered Energy Transfer LP Unit from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $15.00 to $9.00 in a report on Monday, March 9th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $13.38.
In other Energy Transfer LP Unit news, CFO Thomas E. Long acquired 5,800 shares of the company’s stock in a transaction that occurred on Thursday, February 27th. The stock was acquired at an average cost of $10.75 per share, for a total transaction of $62,350.00. Also, CFO Thomas E. Long acquired 9,000 shares of the company’s stock in a transaction that occurred on Friday, March 6th. The shares were acquired at an average price of $8.30 per share, with a total value of $74,700.00. Over the last 90 days, insiders have purchased 6,314,000 shares of company stock valued at $58,854,477. 3.28% of the stock is owned by corporate insiders.
About Energy Transfer LP Unit
Energy Transfer LP provides energy-related services. The company owns and operates approximately 9,400 miles of natural gas transportation pipelines and three natural gas storage facilities in Texas; and 12,500 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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