Adirondack Trust Co. trimmed its position in shares of Energy Transfer LP Unit (NYSE:ET) by 48.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,438 shares of the pipeline company’s stock after selling 2,310 shares during the quarter. Adirondack Trust Co.’s holdings in Energy Transfer LP Unit were worth $32,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of ET. Invesco Ltd. increased its position in shares of Energy Transfer LP Unit by 20,211.7% during the second quarter. Invesco Ltd. now owns 62,395,665 shares of the pipeline company’s stock worth $878,531,000 after purchasing an additional 62,088,474 shares in the last quarter. Bank of Montreal Can purchased a new stake in shares of Energy Transfer LP Unit during the second quarter worth approximately $653,846,000. Chickasaw Capital Management LLC purchased a new stake in shares of Energy Transfer LP Unit during the second quarter worth approximately $442,335,000. Clearbridge Investments LLC purchased a new stake in shares of Energy Transfer LP Unit during the first quarter worth approximately $309,884,000. Finally, Eagle Global Advisors LLC purchased a new stake in shares of Energy Transfer LP Unit during the second quarter worth approximately $191,326,000. Hedge funds and other institutional investors own 55.33% of the company’s stock.

NYSE:ET traded down $0.03 during trading hours on Wednesday, hitting $12.33. The company had a trading volume of 9,127,460 shares, compared to its average volume of 10,831,592. The company has a current ratio of 1.12, a quick ratio of 0.83 and a debt-to-equity ratio of 1.48. The company has a 50-day moving average of $13.37 and a 200 day moving average of $14.35. The company has a market cap of $33.34 billion, a P/E ratio of 10.72 and a beta of 1.52. Energy Transfer LP Unit has a 1 year low of $11.68 and a 1 year high of $17.45.

Energy Transfer LP Unit (NYSE:ET) last issued its earnings results on Wednesday, August 7th. The pipeline company reported $0.33 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.03). The company had revenue of $13.88 billion during the quarter, compared to analysts’ expectations of $14.49 billion. Energy Transfer LP Unit had a net margin of 4.99% and a return on equity of 9.10%. The business’s quarterly revenue was down 1.7% on a year-over-year basis. On average, analysts forecast that Energy Transfer LP Unit will post 1.41 earnings per share for the current year.

Several analysts recently commented on ET shares. Wells Fargo & Co boosted their price target on Energy Transfer LP Unit from $21.00 to $22.00 and gave the stock an “outperform” rating in a research report on Friday, August 9th. Citigroup set a $20.00 price target on Energy Transfer LP Unit and gave the stock a “buy” rating in a research report on Monday, August 12th. ValuEngine upgraded Energy Transfer LP Unit from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 2nd. Piper Jaffray Companies started coverage on Energy Transfer LP Unit in a research report on Wednesday, July 17th. They set an “overweight” rating and a $22.00 price target for the company. Finally, Evercore ISI set a $18.00 price target on Energy Transfer LP Unit and gave the stock a “buy” rating in a research report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the stock. Energy Transfer LP Unit presently has an average rating of “Buy” and an average price target of $19.60.

Energy Transfer LP Unit 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.

Read More: How to find the components of the quick ratio

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

Receive News & Ratings for Energy Transfer LP Unit Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Energy Transfer LP Unit and related companies with MarketBeat.com's FREE daily email newsletter.