Janney Montgomery Scott LLC Has $2.07 Million Stock Position in Energy Transfer LP Unit (NYSE:ET)

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Janney Montgomery Scott LLC lifted its holdings in shares of Energy Transfer LP Unit (NYSE:ET) by 8.0% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 290,808 shares of the pipeline company’s stock after buying an additional 21,464 shares during the period. Janney Montgomery Scott LLC’s holdings in Energy Transfer LP Unit were worth $2,071,000 as of its most recent filing with the SEC.

Several other institutional investors have also bought and sold shares of the company. 1776 Wealth LLC grew its position in Energy Transfer LP Unit by 61.5% during the 1st quarter. 1776 Wealth LLC now owns 5,443 shares of the pipeline company’s stock worth $25,000 after acquiring an additional 2,073 shares during the last quarter. Bartlett & Co. LLC bought a new stake in Energy Transfer LP Unit during the 1st quarter worth $28,000. Citizens Financial Group Inc RI bought a new stake in Energy Transfer LP Unit during the 1st quarter worth $28,000. Creative Financial Designs Inc. ADV bought a new stake in Energy Transfer LP Unit during the 2nd quarter worth $29,000. Finally, Parallel Advisors LLC grew its position in Energy Transfer LP Unit by 238.5% during the 1st quarter. Parallel Advisors LLC now owns 7,810 shares of the pipeline company’s stock worth $35,000 after acquiring an additional 5,503 shares during the last quarter. 46.95% of the stock is owned by institutional investors.

ET has been the topic of a number of research reports. Sanford C. Bernstein reduced their price objective on Energy Transfer LP Unit from $22.00 to $12.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 13th. Wolfe Research lowered Energy Transfer LP Unit from an “outperform” rating to a “peer perform” rating and set a $6.00 price objective on the stock. in a research report on Monday, April 13th. Royal Bank of Canada reduced their price target on Energy Transfer LP Unit from $11.00 to $10.00 and set an “outperform” rating on the stock in a research report on Monday, July 27th. Morgan Stanley reduced their price target on Energy Transfer LP Unit from $8.00 to $6.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 15th. Finally, Cfra reduced their price target on Energy Transfer LP Unit from $14.00 to $9.00 and set a “hold” rating on the stock in a research report on Wednesday, May 13th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $10.88.

Shares of NYSE:ET opened at $6.55 on Friday. The company has a market capitalization of $17.62 billion, a price-to-earnings ratio of 9.23 and a beta of 2.67. The company has a debt-to-equity ratio of 1.57, a current ratio of 0.83 and a quick ratio of 0.66. The business’s 50-day moving average is $7.02 and its 200-day moving average is $8.52. Energy Transfer LP Unit has a 1 year low of $3.75 and a 1 year high of $14.57.

Energy Transfer LP Unit (NYSE:ET) last announced its quarterly earnings data on Monday, May 11th. The pipeline company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.64). The business had revenue of $11.60 billion during the quarter, compared to analyst estimates of $14.40 billion. Energy Transfer LP Unit had a net margin of 3.54% and a return on equity of 10.30%. The firm’s revenue for the quarter was down 11.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.33 earnings per share. Analysts anticipate that Energy Transfer LP Unit will post 1.13 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 19th. Stockholders of record on Friday, August 7th will be paid a $0.305 dividend. This represents a $1.22 dividend on an annualized basis and a dividend yield of 18.63%. The ex-dividend date is Thursday, August 6th. Energy Transfer LP Unit’s dividend payout ratio is 84.14%.

Energy Transfer LP Unit Profile

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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Institutional Ownership by Quarter for Energy Transfer LP Unit (NYSE:ET)

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