Energy Transfer LP (NYSE:ET) Stock Position Lifted by Prevail Innovative Wealth Advisors LLC

Prevail Innovative Wealth Advisors LLC lifted its stake in shares of Energy Transfer LP (NYSE:ET) by 39.6% during the fourth quarter, Holdings Channel.com reports. The firm owned 28,139 shares of the pipeline company’s stock after acquiring an additional 7,985 shares during the period. Prevail Innovative Wealth Advisors LLC’s holdings in Energy Transfer were worth $551,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of ET. Kayne Anderson Capital Advisors LP raised its stake in shares of Energy Transfer by 7.7% in the 4th quarter. Kayne Anderson Capital Advisors LP now owns 23,987,750 shares of the pipeline company’s stock worth $469,920,000 after buying an additional 1,723,683 shares in the last quarter. Hartree Partners LP bought a new stake in Energy Transfer in the fourth quarter worth about $16,083,000. Strategic Financial Concepts LLC lifted its holdings in Energy Transfer by 1,572.4% in the 4th quarter. Strategic Financial Concepts LLC now owns 750,340 shares of the pipeline company’s stock valued at $14,699,000 after acquiring an additional 705,475 shares during the last quarter. Mercuria Capital Strategies LLC bought a new position in shares of Energy Transfer during the 4th quarter valued at about $12,734,000. Finally, Bowen Hanes & Co. Inc. acquired a new position in shares of Energy Transfer in the 4th quarter worth approximately $10,774,000. Institutional investors and hedge funds own 38.22% of the company’s stock.

Energy Transfer Stock Down 0.9 %

Energy Transfer stock opened at $18.72 on Monday. The firm’s 50 day moving average price is $19.46 and its two-hundred day moving average price is $18.39. The firm has a market cap of $64.22 billion, a PE ratio of 14.62, a P/E/G ratio of 0.64 and a beta of 1.72. Energy Transfer LP has a twelve month low of $14.90 and a twelve month high of $21.45. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.88 and a current ratio of 1.12.

Energy Transfer (NYSE:ET) last released its quarterly earnings data on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.06). Energy Transfer had a net margin of 5.74% and a return on equity of 11.56%. On average, research analysts predict that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Friday, February 7th were paid a $0.325 dividend. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date was Friday, February 7th. This represents a $1.30 annualized dividend and a dividend yield of 6.95%. Energy Transfer’s payout ratio is presently 101.56%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ET. Stifel Nicolaus increased their target price on shares of Energy Transfer from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Morgan Stanley increased their price objective on Energy Transfer from $20.00 to $26.00 and gave the company an “overweight” rating in a research report on Tuesday, March 25th. Royal Bank of Canada restated an “outperform” rating and issued a $23.00 target price on shares of Energy Transfer in a report on Tuesday, March 25th. Wells Fargo & Company upped their target price on Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Finally, Citigroup reissued a “buy” rating on shares of Energy Transfer in a research note on Monday, March 24th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $22.09.

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.