Homrich & Berg Decreases Holdings in Energy Transfer LP Unit (NYSE:ET)

Homrich & Berg trimmed its holdings in shares of Energy Transfer LP Unit (NYSE:ET) by 1.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 60,584 shares of the pipeline company’s stock after selling 797 shares during the period. Homrich & Berg’s holdings in Energy Transfer LP Unit were worth $792,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. OLD Second National Bank of Aurora purchased a new stake in shares of Energy Transfer LP Unit in the 2nd quarter valued at about $27,000. First Personal Financial Services purchased a new stake in shares of Energy Transfer LP Unit in the 2nd quarter valued at about $27,000. Rocky Mountain Advisers LLC purchased a new stake in shares of Energy Transfer LP Unit in the 2nd quarter valued at about $28,000. Pathstone Family Office LLC purchased a new stake in shares of Energy Transfer LP Unit in the 2nd quarter valued at about $28,000. Finally, First Interstate Bank lifted its holdings in shares of Energy Transfer LP Unit by 607.6% in the 3rd quarter. First Interstate Bank now owns 2,236 shares of the pipeline company’s stock valued at $29,000 after purchasing an additional 1,920 shares during the last quarter. 55.41% of the stock is owned by institutional investors.

NYSE ET traded down $0.54 on Wednesday, hitting $11.13. 44,457,295 shares of the company’s stock were exchanged, compared to its average volume of 11,205,574. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.12 and a quick ratio of 0.83. The firm’s 50-day moving average price is $12.68 and its two-hundred day moving average price is $13.87. Energy Transfer LP Unit has a fifty-two week low of $11.55 and a fifty-two week high of $15.98. The firm has a market cap of $32.10 billion, a price-to-earnings ratio of 9.67 and a beta of 1.53.

Energy Transfer LP Unit (NYSE:ET) last released its earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.05). Energy Transfer LP Unit had a return on equity of 10.99% and a net margin of 5.94%. The business had revenue of $13.50 billion for the quarter, compared to analyst estimates of $14.54 billion. During the same quarter in the previous year, the firm posted $0.32 EPS. The business’s revenue for the quarter was down 7.0% on a year-over-year basis. On average, research analysts predict that Energy Transfer LP Unit will post 1.39 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 19th. Shareholders of record on Tuesday, November 5th will be given a dividend of $0.305 per share. This represents a $1.22 annualized dividend and a yield of 10.97%. The ex-dividend date is Monday, November 4th. Energy Transfer LP Unit’s payout ratio is 106.09%.

Several research firms have recently weighed in on ET. Zacks Investment Research raised Energy Transfer LP Unit from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th. Evercore ISI set a $18.00 target price on Energy Transfer LP Unit and gave the company a “buy” rating in a report on Wednesday, August 7th. TheStreet cut Energy Transfer LP Unit from a “b-” rating to a “c+” rating in a research report on Monday, October 21st. Bank of America boosted their price target on Energy Transfer LP Unit from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Finally, Citigroup set a $20.00 price target on Energy Transfer LP Unit and gave the company a “buy” rating in a research report on Monday, August 12th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the company’s stock. Energy Transfer LP Unit has an average rating of “Buy” and an average target price of $19.60.

About Energy Transfer LP Unit

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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