Searle & CO. purchased a new position in shares of Energy Transfer LP Unit (NYSE:ET) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 19,164 shares of the pipeline company’s stock, valued at approximately $270,000.

A number of other institutional investors also recently added to or reduced their stakes in ET. Focused Wealth Management Inc purchased a new stake in Energy Transfer LP Unit during the 1st quarter worth approximately $25,000. Meridian Wealth Management LLC bought a new stake in shares of Energy Transfer LP Unit in the 1st quarter valued at approximately $28,000. Global Retirement Partners LLC bought a new stake in shares of Energy Transfer LP Unit in the 1st quarter valued at approximately $32,000. Global Wealth Management Investment Advisory Inc. bought a new stake in shares of Energy Transfer LP Unit in the 1st quarter valued at approximately $34,000. Finally, Shamrock Asset Management LLC bought a new stake in shares of Energy Transfer LP Unit in the 1st quarter valued at approximately $36,000. 56.96% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE ET opened at $14.72 on Friday. Energy Transfer LP Unit has a 12 month low of $11.68 and a 12 month high of $19.19. The stock has a market capitalization of $38.56 billion, a P/E ratio of 12.80 and a beta of 1.55. 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 company’s fifty day moving average is $14.48.

Energy Transfer LP Unit (NYSE:ET) last announced its earnings results on Wednesday, May 8th. The pipeline company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.36 by $0.01. The business had revenue of $13.12 billion during the quarter, compared to the consensus estimate of $14.39 billion. Energy Transfer LP Unit had a return on equity of 7.61% and a net margin of 4.03%. Energy Transfer LP Unit’s quarterly revenue was up 10.4% on a year-over-year basis. Research analysts anticipate that Energy Transfer LP Unit will post 1.42 earnings per share for the current fiscal year.

In other news, Director Michael K. Grimm bought 3,888 shares of the company’s stock in a transaction on Friday, June 14th. The shares were bought at an average cost of $14.14 per share, with a total value of $54,976.32. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Thomas P. Mason sold 75,000 shares of the company’s stock in a transaction dated Monday, June 17th. The stock was 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 currently owned by insiders.

A number of research analysts have issued reports on ET shares. Raymond James set a $29.00 price target on Seacoast Banking Co. of Florida and gave the stock a “buy” rating in a research report on Friday, June 21st. Zacks Investment Research lowered Hallmark Financial Services from a “buy” rating to a “hold” rating in a research report on Thursday. Piper Jaffray Companies reduced their price target on Inovio Pharmaceuticals from $12.00 to $10.00 and set an “overweight” rating for the company in a research report on Wednesday, July 17th. ValuEngine lowered Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Finally, Citigroup set a $86.00 price target on Prologis and gave the stock a “buy” rating in a research report on Wednesday, May 8th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $19.50.

Energy Transfer LP Unit 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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