Prevail Innovative Wealth Advisors LLC Sells 149,614 Shares of Energy Transfer LP $ET

Prevail Innovative Wealth Advisors LLC trimmed its position in Energy Transfer LP (NYSE:ET) by 86.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 24,066 shares of the pipeline company’s stock after selling 149,614 shares during the period. Prevail Innovative Wealth Advisors LLC’s holdings in Energy Transfer were worth $397,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Griffin Asset Management Inc. increased its holdings in shares of Energy Transfer by 1.4% in the 4th quarter. Griffin Asset Management Inc. now owns 69,225 shares of the pipeline company’s stock worth $1,142,000 after buying an additional 982 shares during the last quarter. Hardy Reed LLC lifted its position in Energy Transfer by 10.5% in the 4th quarter. Hardy Reed LLC now owns 44,040 shares of the pipeline company’s stock worth $726,000 after buying an additional 4,200 shares during the last quarter. GSA Capital Partners LLP boosted its stake in Energy Transfer by 27.9% in the fourth quarter. GSA Capital Partners LLP now owns 52,973 shares of the pipeline company’s stock worth $874,000 after buying an additional 11,563 shares in the last quarter. Gables Capital Management Inc. grew its position in Energy Transfer by 60.0% during the fourth quarter. Gables Capital Management Inc. now owns 1,600 shares of the pipeline company’s stock valued at $26,000 after acquiring an additional 600 shares during the last quarter. Finally, Csenge Advisory Group grew its position in Energy Transfer by 16.1% during the fourth quarter. Csenge Advisory Group now owns 16,829 shares of the pipeline company’s stock valued at $278,000 after acquiring an additional 2,329 shares during the last quarter. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. UBS Group restated a “buy” rating on shares of Energy Transfer in a report on Tuesday, May 12th. TD Cowen reissued a “buy” rating and issued a $23.00 price target (up from $22.00) on shares of Energy Transfer in a research note on Wednesday, May 13th. Citigroup restated a “buy” rating and set a $23.00 price target (up from $22.00) on shares of Energy Transfer in a research report on Thursday, May 7th. Jefferies Financial Group reiterated a “hold” rating on shares of Energy Transfer in a report on Wednesday, May 6th. Finally, Truist Financial started coverage on Energy Transfer in a report on Tuesday, March 24th. They set a “buy” rating and a $23.00 target price for the company. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Energy Transfer currently has an average rating of “Buy” and a consensus target price of $22.73.

Energy Transfer Stock Performance

Shares of NYSE:ET opened at $20.04 on Friday. The company has a current ratio of 1.17, a quick ratio of 0.93 and a debt-to-equity ratio of 1.50. The company has a 50-day moving average price of $19.33 and a 200-day moving average price of $18.05. The company has a market cap of $68.97 billion, a price-to-earnings ratio of 16.70, a price-to-earnings-growth ratio of 1.21 and a beta of 0.57. Energy Transfer LP has a 12 month low of $16.18 and a 12 month high of $20.70.

Energy Transfer (NYSE:ET) last announced its quarterly earnings results on Tuesday, May 5th. The pipeline company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.05). Energy Transfer had a net margin of 4.66% and a return on equity of 9.77%. The business had revenue of $27.77 billion for the quarter, compared to analysts’ expectations of $25.78 billion. During the same quarter in the prior year, the firm earned $0.36 EPS. The firm’s revenue for the quarter was up 32.1% on a year-over-year basis. As a group, equities analysts anticipate that Energy Transfer LP will post 1.37 EPS for the current year.

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Friday, May 8th were issued a dividend of $0.3375 per share. This is a boost from Energy Transfer’s previous quarterly dividend of $0.34. This represents a $1.35 dividend on an annualized basis and a dividend yield of 6.7%. The ex-dividend date was Friday, May 8th. Energy Transfer’s dividend payout ratio is currently 112.50%.

About Energy Transfer

Energy Transfer (NYSE: ET) is a Dallas-based midstream energy company that develops and operates infrastructure for the transportation, storage and processing of hydrocarbons. The company’s operations focus on moving and storing natural gas, natural gas liquids (NGLs), crude oil and refined products through an integrated network of pipelines, terminals, storage facilities and processing plants. Energy Transfer provides core midstream services such as gathering, compression, fractionation, processing, and bulk transportation to support production and downstream supply chains.

Its asset base spans an extensive network across the United States, connecting producing regions, processing centers, petrochemical hubs and coastal and inland markets.