Prospera Financial Services Inc Acquires New Position in Energy Transfer LP Unit (NYSE:ET)

Prospera Financial Services Inc bought a new stake in shares of Energy Transfer LP Unit (NYSE:ET) in the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 83,232 shares of the pipeline company’s stock, valued at approximately $1,106,000.

A number of other institutional investors have also recently bought and sold shares of the business. OLD Second National Bank of Aurora acquired a new stake in shares of Energy Transfer LP Unit in the 2nd quarter worth approximately $27,000. First Personal Financial Services acquired a new stake in shares of Energy Transfer LP Unit in the 2nd quarter worth approximately $27,000. Meridian Wealth Management LLC acquired a new stake in shares of Energy Transfer LP Unit in the 1st quarter worth approximately $28,000. Rocky Mountain Advisers LLC acquired a new stake in shares of Energy Transfer LP Unit in the 2nd quarter worth approximately $28,000. Finally, Pathstone Family Office LLC acquired a new stake in shares of Energy Transfer LP Unit in the 2nd quarter worth approximately $28,000. 55.33% of the stock is owned by hedge funds and other institutional investors.

ET has been the subject of a number of research analyst reports. Citigroup set a $20.00 price target on shares of Energy Transfer LP Unit and gave the stock a “buy” rating in a research note on Monday, August 12th. Raymond James reissued an “average” rating and issued a $19.00 target price on shares of Energy Transfer LP Unit in a report on Friday, September 6th. ValuEngine lowered shares of Energy Transfer LP Unit from a “sell” rating to a “strong sell” rating in a report on Friday, September 6th. Evercore ISI set a $18.00 price target on shares of Energy Transfer LP Unit and gave the company a “buy” rating in a report on Wednesday, August 7th. Finally, Zacks Investment Research lowered shares of Energy Transfer LP Unit from a “buy” rating to a “hold” rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the stock. Energy Transfer LP Unit presently has an average rating of “Buy” and a consensus price target of $19.44.

Shares of Energy Transfer LP Unit stock traded down $0.08 during trading on Tuesday, reaching $13.35. 14,822,475 shares of the company traded hands, compared to its average volume of 7,817,641. The firm has a market capitalization of $36.78 billion, a PE ratio of 11.61 and a beta of 1.51. The company has a 50 day moving average price of $13.69 and a 200-day moving average price of $14.57. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.12 and a quick ratio of 0.83. Energy Transfer LP Unit has a 1-year low of $11.68 and a 1-year high of $18.17.

Energy Transfer LP Unit (NYSE:ET) last announced its quarterly earnings results on Wednesday, August 7th. The pipeline company reported $0.33 EPS for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.03). Energy Transfer LP Unit had a net margin of 4.99% and a return on equity of 9.10%. The business had revenue of $13.88 billion for the quarter, compared to the consensus estimate of $14.49 billion. The business’s revenue was down 1.7% on a year-over-year basis. Equities research analysts expect that Energy Transfer LP Unit will post 1.39 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Tuesday, August 6th were paid a $0.305 dividend. The ex-dividend date was Monday, August 5th. This represents a $1.22 annualized dividend and a dividend yield of 9.14%. Energy Transfer LP Unit’s payout ratio is 106.09%.

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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