GYL Financial Synergies LLC bought a new position in Energy Transfer LP Unit (NYSE:ET) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 156,214 shares of the pipeline company’s stock, valued at approximately $2,401,000. Energy Transfer LP Unit makes up about 0.5% of GYL Financial Synergies LLC’s investment portfolio, making the stock its 18th biggest position.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in ET. Buckingham Asset Management LLC bought a new stake in shares of Energy Transfer LP Unit during the first quarter valued at approximately $451,000. Heronetta Management L.P. bought a new stake in Energy Transfer LP Unit in the first quarter worth $20,824,000. Meridian Investment Counsel Inc. bought a new stake in Energy Transfer LP Unit in the first quarter worth $332,000. Riggs Asset Managment Co. Inc. bought a new stake in Energy Transfer LP Unit in the first quarter worth $293,000. Finally, Mid Atlantic Financial Management Inc. ADV bought a new stake in Energy Transfer LP Unit in the first quarter worth $407,000. Institutional investors and hedge funds own 56.97% of the company’s stock.
Several research firms have recently weighed in on ET. Stifel Nicolaus restated a “buy” rating and issued a $20.00 price target on shares of Energy Transfer LP Unit in a research note on Thursday, February 21st. Raymond James upgraded Energy Transfer LP Unit from an “outperform” rating to a “strong-buy” rating in a research note on Tuesday, April 16th. ValuEngine cut Energy Transfer LP Unit from a “hold” rating to a “sell” rating in a research note on Monday, April 15th. TheStreet upgraded Energy Transfer LP Unit from a “c+” rating to a “b” rating in a research note on Thursday, February 21st. Finally, Zacks Investment Research upgraded Energy Transfer LP Unit from a “hold” rating to a “buy” rating and set a $17.00 price target for the company in a research note on Wednesday, April 17th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $19.25.
ET stock opened at $14.17 on Monday. Energy Transfer LP Unit has a 1-year low of $11.68 and a 1-year high of $19.19. The company has a debt-to-equity ratio of 1.52, a current ratio of 1.06 and a quick ratio of 0.81. The firm has a market capitalization of $37.12 billion, a PE ratio of 12.32 and a beta of 1.64.
Energy Transfer LP Unit (NYSE:ET) last posted its quarterly earnings results on Wednesday, May 8th. The pipeline company reported $0.37 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.01. Energy Transfer LP Unit had a return on equity of 7.61% and a net margin of 4.03%. The firm had revenue of $13.12 billion during the quarter, compared to analysts’ expectations of $14.39 billion. The company’s quarterly revenue was up 10.4% compared to the same quarter last year. As a group, research analysts anticipate that Energy Transfer LP Unit will post 1.4 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, May 20th. Investors of record on Tuesday, May 7th were given a dividend of $0.305 per share. This represents a $1.22 dividend on an annualized basis and a yield of 8.61%. The ex-dividend date was Monday, May 6th. Energy Transfer LP Unit’s dividend payout ratio (DPR) is presently 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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