Prevail Innovative Wealth Advisors LLC Lowers Position in Energy Transfer LP $ET

Key Points

• Prevail Innovative Wealth Advisors cut its Energy Transfer position by 86.1% in the fourth quarter, leaving it with 24,066 shares worth about $397,000.
• Energy Transfer reported Q1 earnings of $0.35 per share, missing estimates, but revenue came in at $27.77 billion, above expectations and up 32.1% year over year.
• The company raised its quarterly dividend to $0.3375 per share, implying an annualized yield of 6.7%, while analysts remain broadly bullish with an average Buy rating and target price of $22.73.

Prevail Innovative Wealth Advisors LLC lessened its stake in Energy Transfer LP (NYSE:ET - Free Report) by 86.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,066 shares of the pipeline company's stock after selling 149,614 shares during the quarter. Prevail Innovative Wealth Advisors LLC's holdings in Energy Transfer were worth $397,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Lee Financial Co increased its stake in Energy Transfer by 359.7% in the 3rd quarter. Lee Financial Co now owns 193,817 shares of the pipeline company's stock valued at $3,326,000 after buying an additional 151,657 shares during the last quarter. North Star Investment Management Corp. boosted its stake in shares of Energy Transfer by 100.1% in the 4th quarter. North Star Investment Management Corp. now owns 161,523 shares of the pipeline company's stock worth $2,664,000 after buying an additional 80,786 shares during the last quarter. Fidelis Capital Partners LLC grew its holdings in shares of Energy Transfer by 150.2% in the third quarter. Fidelis Capital Partners LLC now owns 105,003 shares of the pipeline company's stock valued at $1,802,000 after acquiring an additional 63,043 shares in the last quarter. Avior Wealth Management LLC increased its position in shares of Energy Transfer by 436.6% during the fourth quarter. Avior Wealth Management LLC now owns 90,160 shares of the pipeline company's stock valued at $1,487,000 after acquiring an additional 73,359 shares during the last quarter. Finally, Chase Investment Counsel Corp lifted its holdings in Energy Transfer by 277.6% during the third quarter. Chase Investment Counsel Corp now owns 219,083 shares of the pipeline company's stock worth $3,759,000 after acquiring an additional 161,067 shares during the period. Institutional investors own 38.22% of the company's stock.

Energy Transfer Price Performance

NYSE ET opened at $20.04 on Friday. The company has a quick ratio of 0.93, a current ratio of 1.17 and a debt-to-equity ratio of 1.50. The company has a market cap of $68.97 billion, a PE ratio of 16.70, a price-to-earnings-growth ratio of 1.21 and a beta of 0.57. Energy Transfer LP has a 52 week low of $16.18 and a 52 week high of $20.70. The firm's 50-day simple moving average is $19.33 and its two-hundred day simple moving average is $18.05.

Energy Transfer (NYSE:ET - Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The pipeline company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.05). The business had revenue of $27.77 billion during the quarter, compared to the consensus estimate of $25.78 billion. Energy Transfer had a net margin of 4.66% and a return on equity of 9.77%. The business's revenue for the quarter was up 32.1% on a year-over-year basis. During the same period last year, the firm earned $0.36 EPS. Research analysts predict that Energy Transfer LP will post 1.37 earnings per share for the current year.

Energy Transfer Increases Dividend

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

Analysts Set New Price Targets

A number of equities analysts recently weighed in on ET shares. TD Cowen reissued a "buy" rating and issued a $23.00 price target (up from $22.00) on shares of Energy Transfer in a report on Wednesday, May 13th. Citigroup restated a "buy" rating and set a $23.00 price objective (up from $22.00) on shares of Energy Transfer in a report on Thursday, May 7th. Scotiabank reiterated an "outperform" rating on shares of Energy Transfer in a research note on Tuesday, May 12th. Stifel Nicolaus increased their target price on shares of Energy Transfer from $23.00 to $25.00 and gave the company a "buy" rating in a research report on Wednesday, May 6th. Finally, Wells Fargo & Company raised their price target on shares of Energy Transfer from $23.00 to $25.00 and gave the stock an "overweight" rating in a research note on Friday, March 13th. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Energy Transfer presently has an average rating of "Buy" and an average target price of $22.73.

Energy Transfer Company Profile

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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