Pennant Investors LP acquired a new stake in shares of Energy Transfer LP Unit (NYSE:ET) during the 1st quarter, HoldingsChannel reports. The institutional investor acquired 1,391,000 shares of the pipeline company’s stock, valued at approximately $21,380,000. Energy Transfer LP Unit accounts for about 8.7% of Pennant Investors LP’s portfolio, making the stock its 4th largest holding.

Several other institutional investors have also recently made changes to their positions in ET. Colorado Capital Management Inc. bought a new position in shares of Energy Transfer LP Unit during the first quarter valued at approximately $209,000. SeaBridge Investment Advisors LLC bought a new position in shares of Energy Transfer LP Unit during the first quarter valued at approximately $257,000. UMB Bank N A MO bought a new position in shares of Energy Transfer LP Unit during the first quarter valued at approximately $1,771,000. Heronetta Management L.P. bought a new position in shares of Energy Transfer LP Unit during the first quarter valued at approximately $20,824,000. Finally, Janney Montgomery Scott LLC bought a new position in shares of Energy Transfer LP Unit during the first quarter valued at approximately $5,657,000. Hedge funds and other institutional investors own 57.11% of the company’s stock.

NYSE:ET traded down $0.05 during midday trading on Wednesday, hitting $14.27. The stock had a trading volume of 233,148 shares, compared to its average volume of 10,830,833. Energy Transfer LP Unit has a one year low of $11.68 and a one year high of $19.19. The stock has a market cap of $37.33 billion, a P/E ratio of 12.42 and a beta of 1.64. The company has a quick ratio of 0.81, a current ratio of 1.06 and a debt-to-equity ratio of 1.52.

Energy Transfer LP Unit (NYSE:ET) last announced its quarterly earnings data on Wednesday, May 8th. The pipeline company reported $0.37 earnings per share (EPS) for the quarter, topping the 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 company had revenue of $13.12 billion for the quarter, compared to analysts’ expectations of $14.39 billion. The company’s revenue for the quarter was up 10.4% on a year-over-year basis. On average, sell-side analysts anticipate that Energy Transfer LP Unit will post 1.37 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 paid a $0.305 dividend. The ex-dividend date of this dividend was Monday, May 6th. This represents a $1.22 annualized dividend and a yield of 8.55%. Energy Transfer LP Unit’s dividend payout ratio (DPR) is currently 106.09%.

A number of research firms have recently commented on ET. Zacks Investment Research cut Energy Transfer LP Unit from a “buy” rating to a “hold” rating in a research note on Wednesday, May 15th. ValuEngine cut Energy Transfer LP Unit from a “hold” rating to a “sell” rating in a research note on Monday, April 15th. Stifel Nicolaus reaffirmed a “buy” rating and set a $20.00 target price on shares of Energy Transfer LP Unit in a research note on Thursday, February 21st. Citigroup upped their target price on Energy Transfer LP Unit from $16.00 to $19.50 and gave the company a “buy” rating in a research note on Wednesday, May 8th. Finally, TheStreet raised Energy Transfer LP Unit from a “c+” rating to a “b” rating in a research note on Thursday, February 21st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $19.25.

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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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