SOA Wealth Advisors LLC. Trims Stake in Energy Transfer LP $ET

Key Points

• SOA Wealth Advisors cut its stake in Energy Transfer by 65.4% in Q4, selling 142,936 shares and retaining 75,470 shares valued at about $1.245 million.
• Wall Street's consensus rating is a Moderate Buy with a $21.60 average price target, and several firms have issued buy/overweight ratings or raised targets recently.
• Energy Transfer's Q4 revenue jumped 29.6% and beat estimates while EPS missed ($0.25 vs. $0.34), and the company raised its quarterly dividend to $0.335 (annualized $1.34), a 7.1% yield with a payout ratio of 110.74%.

SOA Wealth Advisors LLC. lowered its position in Energy Transfer LP (NYSE:ET - Free Report) by 65.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 75,470 shares of the pipeline company's stock after selling 142,936 shares during the period. SOA Wealth Advisors LLC.'s holdings in Energy Transfer were worth $1,245,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. American National Bank & Trust grew its stake in shares of Energy Transfer by 61.9% during the fourth quarter. American National Bank & Trust now owns 14,881 shares of the pipeline company's stock valued at $245,000 after buying an additional 5,689 shares during the last quarter. Sullivan Wood Capital Management LLC lifted its stake in shares of Energy Transfer by 126.8% during the 4th quarter. Sullivan Wood Capital Management LLC now owns 145,851 shares of the pipeline company's stock worth $2,405,000 after acquiring an additional 81,535 shares during the last quarter. Perigon Wealth Management LLC lifted its stake in shares of Energy Transfer by 12.8% during the 4th quarter. Perigon Wealth Management LLC now owns 44,635 shares of the pipeline company's stock worth $736,000 after acquiring an additional 5,050 shares during the last quarter. Clarus Group Inc. boosted its holdings in Energy Transfer by 0.5% during the 4th quarter. Clarus Group Inc. now owns 135,066 shares of the pipeline company's stock valued at $2,227,000 after acquiring an additional 693 shares during the period. Finally, Formidable Asset Management LLC bought a new position in Energy Transfer in the 4th quarter valued at $219,000. Hedge funds and other institutional investors own 38.22% of the company's stock.

Wall Street Analyst Weigh In

ET has been the topic of a number of recent analyst reports. TD Cowen increased 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 reissued an "outperform" rating on shares of Energy Transfer in a research note on Friday, January 16th. Barclays restated an "overweight" rating and issued a $22.00 price target (down from $25.00) on shares of Energy Transfer in a report on Monday, January 12th. 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. Finally, UBS Group reiterated a "buy" rating on shares of Energy Transfer in a report on Wednesday, January 7th. One investment 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $21.60.

Energy Transfer Price Performance

NYSE ET opened at $18.96 on Friday. The company has a market cap of $65.23 billion, a PE ratio of 15.67, a P/E/G ratio of 1.06 and a beta of 0.62. The firm's 50 day moving average price is $18.70 and its 200-day moving average price is $17.47. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.90 and a current ratio of 1.22. Energy Transfer LP has a 52-week low of $14.60 and a 52-week high of $19.85.

Energy Transfer (NYSE:ET - Get Free Report) last issued its quarterly earnings data on Tuesday, February 17th. The pipeline company reported $0.25 EPS for the quarter, missing analysts' consensus estimates of $0.34 by ($0.09). The business had revenue of $25.32 billion during the quarter, compared to the consensus estimate of $23.56 billion. Energy Transfer had a return on equity of 10.17% and a net margin of 5.11%.The business's quarterly revenue was up 29.6% on a year-over-year basis. During the same period last year, the firm earned $0.29 EPS. Sell-side analysts forecast that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 19th. Investors of record on Friday, February 6th were paid a dividend of $0.335 per share. This is an increase from Energy Transfer's previous quarterly dividend of $0.33. The ex-dividend date was Friday, February 6th. This represents a $1.34 dividend on an annualized basis and a dividend yield of 7.1%. 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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