Penn Davis Mcfarland Inc. Takes $250,000 Position in Energy Transfer LP Unit (NYSE:ET)
Penn Davis Mcfarland Inc. purchased a new stake in shares of Energy Transfer LP Unit (NYSE:ET) during the second quarter, HoldingsChannel.com reports. The institutional investor purchased 17,733 shares of the pipeline company’s stock, valued at approximately $250,000.
Other large investors have also made changes to their positions in the company. Buckingham Asset Management LLC bought a new position in shares of Energy Transfer LP Unit during the first quarter valued at $451,000. Neville Rodie & Shaw Inc. bought a new position in Energy Transfer LP Unit in the second quarter valued at about $616,000. Carroll Financial Associates Inc. bought a new position in Energy Transfer LP Unit in the second quarter valued at about $245,000. Heronetta Management L.P. bought a new position in Energy Transfer LP Unit in the first quarter valued at about $20,824,000. Finally, Meridian Investment Counsel Inc. bought a new position in Energy Transfer LP Unit in the first quarter valued at about $332,000. 56.96% of the stock is currently owned by hedge funds and other institutional investors.
NYSE ET opened at $14.72 on Friday. The stock has a 50-day moving average of $14.48. The company has a debt-to-equity ratio of 1.52, a current ratio of 1.06 and a quick ratio of 0.81. Energy Transfer LP Unit has a 52 week low of $11.68 and a 52 week high of $19.19. The company has a market capitalization of $38.56 billion, a P/E ratio of 12.80 and a beta of 1.55.
In other news, EVP Thomas P. Mason sold 75,000 shares of the firm’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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Michael K. Grimm acquired 3,888 shares of the firm’s stock in a transaction dated Friday, June 14th. The stock was bought at an average cost of $14.14 per share, for a total transaction of $54,976.32. The disclosure for this purchase can be found here. 3.28% of the stock is owned by company insiders.
ET has been the topic of a number of recent research reports. ValuEngine downgraded Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Raymond James set a $29.00 target price on Seacoast Banking Co. of Florida and gave the company a “buy” rating in a report on Friday, June 21st. Zacks Investment Research downgraded Hallmark Financial Services from a “buy” rating to a “hold” rating in a report on Thursday. Piper Jaffray Companies lowered their target price on Inovio Pharmaceuticals from $12.00 to $10.00 and set an “overweight” rating on the stock in a report on Wednesday, July 17th. Finally, Citigroup set a $86.00 target price on Prologis and gave the company a “buy” rating in a report on Wednesday, May 8th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $19.50.
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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