Prevail Innovative Wealth Advisors LLC Boosts Holdings in Energy Transfer LP (NYSE:ET)

Prevail Innovative Wealth Advisors LLC raised its position in Energy Transfer LP (NYSE:ET - Free Report) by 316.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 117,312 shares of the pipeline company's stock after purchasing an additional 89,173 shares during the period. Prevail Innovative Wealth Advisors LLC's holdings in Energy Transfer were worth $2,181,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Wedbush Securities Inc. increased its position in shares of Energy Transfer by 44.2% in the 4th quarter. Wedbush Securities Inc. now owns 135,281 shares of the pipeline company's stock valued at $2,650,000 after purchasing an additional 41,438 shares during the last quarter. Greenland Capital Management LP purchased a new position in shares of Energy Transfer in the 4th quarter valued at $2,253,000. Edmond DE Rothschild Holding S.A. purchased a new position in shares of Energy Transfer in the 4th quarter valued at $597,000. Bank of Montreal Can grew its position in shares of Energy Transfer by 12,090.8% in the 4th quarter. Bank of Montreal Can now owns 12,455,613 shares of the pipeline company's stock valued at $244,005,000 after buying an additional 12,353,441 shares during the last quarter. Finally, Strong Tower Advisory Services purchased a new position in shares of Energy Transfer in the 1st quarter valued at $2,604,000. 38.22% of the stock is owned by hedge funds and other institutional investors.

Energy Transfer Stock Performance

Shares of ET stock traded up $0.10 during mid-day trading on Thursday, hitting $17.54. The stock had a trading volume of 9,656,061 shares, compared to its average volume of 15,711,573. The company's 50-day simple moving average is $17.82 and its 200-day simple moving average is $18.39. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.12 and a quick ratio of 0.92. The firm has a market cap of $60.18 billion, a PE ratio of 13.28, a PEG ratio of 0.55 and a beta of 0.79. Energy Transfer LP has a fifty-two week low of $14.60 and a fifty-two week high of $21.45.

Energy Transfer (NYSE:ET - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The pipeline company reported $0.36 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.33 by $0.03. The business had revenue of $21.02 billion during the quarter, compared to the consensus estimate of $22.28 billion. Energy Transfer had a net margin of 5.88% and a return on equity of 11.47%. The business's revenue was down 2.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.32 EPS. Sell-side analysts anticipate that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 20th. Stockholders of record on Friday, May 9th were issued a $0.3275 dividend. This represents a $1.31 dividend on an annualized basis and a dividend yield of 7.47%. The ex-dividend date of this dividend was Friday, May 9th. This is an increase from Energy Transfer's previous quarterly dividend of $0.33. Energy Transfer's dividend payout ratio (DPR) is currently 99.24%.

Insider Activity

In other Energy Transfer news, Director James Richard Perry sold 1,369 shares of the firm's stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $18.48, for a total transaction of $25,299.12. Following the completion of the transaction, the director directly owned 24,523 shares in the company, valued at approximately $453,185.04. This trade represents a 5.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.28% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

ET has been the topic of a number of recent analyst reports. Morgan Stanley increased their target price on shares of Energy Transfer from $20.00 to $26.00 and gave the company an "overweight" rating in a research report on Tuesday, March 25th. Mizuho increased their target price on shares of Energy Transfer from $22.00 to $23.00 and gave the company an "outperform" rating in a research report on Tuesday, May 20th. Cowen initiated coverage on shares of Energy Transfer in a research note on Monday, July 7th. They set a "buy" rating for the company. Wells Fargo & Company decreased their price target on shares of Energy Transfer from $22.00 to $21.00 and set an "overweight" rating for the company in a research note on Wednesday, May 7th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Energy Transfer from $25.00 to $23.00 and set an "overweight" rating for the company in a research note on Monday, May 19th. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $22.58.

About Energy Transfer

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.