Energy Transfer LP (NYSE:ET) Shares Bought by Prevail Innovative Wealth Advisors LLC

Prevail Innovative Wealth Advisors LLC raised its holdings in Energy Transfer LP (NYSE:ET) by 39.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 28,139 shares of the pipeline company’s stock after purchasing an additional 7,985 shares during the period. Prevail Innovative Wealth Advisors LLC’s holdings in Energy Transfer were worth $551,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Mountain Hill Investment Partners Corp. acquired a new stake in Energy Transfer in the 4th quarter valued at about $25,000. GAMMA Investing LLC purchased a new stake in shares of Energy Transfer in the fourth quarter valued at approximately $29,000. United Community Bank purchased a new position in Energy Transfer during the fourth quarter worth approximately $35,000. Financial Life Planners acquired a new position in Energy Transfer during the fourth quarter worth $37,000. Finally, Tortoise Investment Management LLC grew its holdings in Energy Transfer by 111.1% in the 4th quarter. Tortoise Investment Management LLC now owns 1,900 shares of the pipeline company’s stock valued at $37,000 after buying an additional 1,000 shares in the last quarter. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

Energy Transfer Stock Performance

Shares of NYSE:ET opened at $18.72 on Monday. The company has a market cap of $64.22 billion, a P/E ratio of 14.62, a PEG ratio of 0.64 and a beta of 1.72. Energy Transfer LP has a one year low of $14.90 and a one year high of $21.45. The business’s 50-day simple moving average is $19.46 and its 200 day simple moving average is $18.39. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.88 and a current ratio of 1.12.

Energy Transfer (NYSE:ET) last released its quarterly earnings results on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.06). Energy Transfer had a return on equity of 11.56% and a net margin of 5.74%. On average, sell-side analysts forecast that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Friday, February 7th were issued a $0.325 dividend. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.30 annualized dividend and a dividend yield of 6.95%. Energy Transfer’s dividend payout ratio (DPR) is 101.56%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ET. Morgan Stanley raised their target price on Energy Transfer from $20.00 to $26.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 25th. Barclays boosted their price objective on shares of Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Stifel Nicolaus increased their target price on shares of Energy Transfer from $21.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Wells Fargo & Company upped their price objective on shares of Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Finally, Citigroup reiterated a “buy” rating on shares of Energy Transfer in a report on Monday, March 24th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $22.09.

Energy Transfer Profile

Energy Transfer LP provides energy-related services. The company owns and operates natural gas transportation pipeline, and natural gas storage facilities in Texas and Oklahoma; and approximately 20,090 miles of interstate natural gas pipeline. It also sells natural gas to electric utilities, independent power plants, local distribution and other marketing companies, and industrial end-users.