Kercheville Advisors LLC Reduces Stock Position in Energy Transfer LP $ET

Key Points

• Kercheville Advisors LLC cut its position in Energy Transfer by 47.0% in Q4, selling 57,021 shares and ending the period with 64,417 shares worth about $1.17 million.
• Energy Transfer reported Q4 EPS of $0.25, missing estimates by $0.09, while revenue beat expectations at $25.32 billion, up 29.6% year-over-year.
• The firm raised its quarterly dividend to $0.335 (annualized $1.34), implying a 7.0% yield110.74%.

Kercheville Advisors LLC lessened its position in shares of Energy Transfer LP (NYSE:ET - Free Report) by 47.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 64,417 shares of the pipeline company's stock after selling 57,021 shares during the quarter. Kercheville Advisors LLC's holdings in Energy Transfer were worth $1,167,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in ET. Financial Life Planners purchased a new stake in Energy Transfer during the 3rd quarter valued at about $34,000. Core Alternative Capital purchased a new stake in Energy Transfer during the 3rd quarter valued at about $46,000. Global Wealth Strategies & Associates grew its stake in Energy Transfer by 196.4% during the 4th quarter. Global Wealth Strategies & Associates now owns 2,964 shares of the pipeline company's stock valued at $49,000 after purchasing an additional 1,964 shares during the last quarter. Golden State Wealth Management LLC grew its stake in Energy Transfer by 38.9% during the 3rd quarter. Golden State Wealth Management LLC now owns 2,918 shares of the pipeline company's stock valued at $50,000 after purchasing an additional 817 shares during the last quarter. Finally, Clearstead Trust LLC purchased a new stake in Energy Transfer during the 3rd quarter valued at about $50,000. Hedge funds and other institutional investors own 38.22% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Jefferies Financial Group reiterated a "hold" rating on shares of Energy Transfer in a research note on Wednesday, February 18th. TD Cowen upped their target price on Energy Transfer from $20.00 to $21.00 and gave the stock a "buy" rating in a research note on Wednesday, February 18th. Scotiabank restated an "outperform" rating on shares of Energy Transfer in a research note on Friday, January 16th. Wells Fargo & Company upped their target price on Energy Transfer from $23.00 to $25.00 and gave the stock an "overweight" rating in a research note on Friday, March 13th. Finally, UBS Group restated a "buy" rating on shares of Energy Transfer in a research note on Wednesday, January 7th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, Energy Transfer presently has an average rating of "Moderate Buy" and an average target price of $21.60.

Energy Transfer Stock Down 0.7%

Shares of ET opened at $19.03 on Friday. Energy Transfer LP has a 52 week low of $15.80 and a 52 week high of $19.85. The company has a quick ratio of 0.90, a current ratio of 1.22 and a debt-to-equity ratio of 1.50. The company has a market capitalization of $65.45 billion, a price-to-earnings ratio of 15.72, a PEG ratio of 1.05 and a beta of 0.62. The stock's 50-day moving average price is $18.92 and its 200-day moving average price is $17.65.

Energy Transfer (NYSE:ET - Get Free Report) last issued its earnings results on Tuesday, February 17th. The pipeline company reported $0.25 EPS for the quarter, missing analysts' consensus estimates of $0.34 by ($0.09). Energy Transfer had a return on equity of 10.17% and a net margin of 5.11%.The company had revenue of $25.32 billion during the quarter, compared to analysts' expectations of $23.56 billion. During the same quarter in the previous year, the company earned $0.29 EPS. The firm's quarterly revenue was up 29.6% compared to the same quarter last year. On average, sell-side analysts predict that Energy Transfer LP will post 1.5 EPS for the current year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 19th. Shareholders of record on Friday, February 6th were given a dividend of $0.335 per share. This is an increase from Energy Transfer's previous quarterly dividend of $0.33. This represents a $1.34 dividend on an annualized basis and a yield of 7.0%. The ex-dividend date was Friday, February 6th. Energy Transfer's dividend payout ratio (DPR) is currently 110.74%.

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.

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