SOA Wealth Advisors LLC. Lowers Stock Holdings in Energy Transfer LP $ET

Key Points

• SOA Wealth Advisors LLC reduced its stake in Energy Transfer LP by 6.6%, ending the second quarter with a holding of 218,406 shares valued at approximately $3.96 million.
• Multiple institutional investors have increased their positions in Energy Transfer, with Brighton Jones LLC's holdings rising by 93.4% and GAMMA Investing LLC's by an astonishing 1,139.3%.
• Energy Transfer LP declared a quarterly dividend of $0.33, resulting in an annual yield of 7.7% despite a payout ratio exceeding 100%.

SOA Wealth Advisors LLC. trimmed its position in Energy Transfer LP (NYSE:ET - Free Report) by 6.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 218,406 shares of the pipeline company's stock after selling 15,375 shares during the quarter. SOA Wealth Advisors LLC.'s holdings in Energy Transfer were worth $3,960,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of ET. Brighton Jones LLC increased its position in shares of Energy Transfer by 93.4% in the fourth quarter. Brighton Jones LLC now owns 24,530 shares of the pipeline company's stock worth $481,000 after purchasing an additional 11,844 shares during the last quarter. AdvisorNet Financial Inc increased its position in shares of Energy Transfer by 481.9% in the first quarter. AdvisorNet Financial Inc now owns 2,665 shares of the pipeline company's stock worth $50,000 after purchasing an additional 2,207 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Energy Transfer by 1,139.3% in the first quarter. GAMMA Investing LLC now owns 18,590 shares of the pipeline company's stock worth $346,000 after purchasing an additional 17,090 shares during the last quarter. Parallel Advisors LLC increased its position in shares of Energy Transfer by 71.0% in the first quarter. Parallel Advisors LLC now owns 34,182 shares of the pipeline company's stock worth $635,000 after purchasing an additional 14,192 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC bought a new position in shares of Energy Transfer in the first quarter worth approximately $385,000. 38.22% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ET has been the topic of several research analyst reports. TD Cowen initiated coverage on shares of Energy Transfer in a research report on Monday, July 7th. They issued a "buy" rating and a $22.00 price objective on the stock. Morgan Stanley reduced their price target on shares of Energy Transfer from $24.00 to $23.00 and set an "overweight" rating on the stock in a research report on Tuesday, August 26th. Cowen assumed coverage on shares of Energy Transfer in a research note on Monday, July 7th. They set a "buy" rating on the stock. Scotiabank assumed coverage on shares of Energy Transfer in a research note on Tuesday, September 2nd. They set a "sector outperform" rating and a $23.00 price target on the stock. Finally, Wells Fargo & Company reissued an "overweight" rating and set a $23.00 price target (up from $21.00) on shares of Energy Transfer in a research note on Tuesday, August 12th. Thirteen analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $22.50.

Energy Transfer Trading Up 0.1%

NYSE:ET opened at $17.22 on Wednesday. The company has a fifty day moving average of $17.52 and a 200 day moving average of $17.58. Energy Transfer LP has a 52 week low of $14.60 and a 52 week high of $21.45. The company has a quick ratio of 0.92, a current ratio of 1.15 and a debt-to-equity ratio of 1.44. The firm has a market capitalization of $59.11 billion, a P/E ratio of 13.35, a P/E/G ratio of 1.02 and a beta of 0.85.

Energy Transfer (NYSE:ET - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The pipeline company reported $0.32 EPS for the quarter, meeting analysts' consensus estimates of $0.32. Energy Transfer had a net margin of 5.80% and a return on equity of 11.08%. The company had revenue of $19.24 billion during the quarter, compared to analyst estimates of $24.07 billion. During the same period in the prior year, the business posted $0.35 EPS. The firm's revenue was down 7.2% compared to the same quarter last year. On average, research analysts predict that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 19th. Investors of record on Friday, August 8th were paid a $0.33 dividend. The ex-dividend date of this dividend was Friday, August 8th. This is a positive change from Energy Transfer's previous quarterly dividend of $0.33. This represents a $1.32 dividend on an annualized basis and a yield of 7.7%. Energy Transfer's payout ratio is 102.33%.

Insider Buying and Selling at Energy Transfer

In related news, Director Kelcy L. Warren bought 1,350,000 shares of the business's stock in a transaction dated Wednesday, August 20th. The shares were purchased at an average price of $17.36 per share, with a total value of $23,436,000.00. Following the purchase, the director owned 69,178,477 shares of the company's stock, valued at approximately $1,200,938,360.72. This trade represents a 1.99% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.28% of the company's stock.

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.

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