Scissortail Wealth Management LLC Takes Position in Energy Transfer LP (NYSE:ET)

Scissortail Wealth Management LLC purchased a new stake in shares of Energy Transfer LP (NYSE:ET) in the fourth quarter, according to its most recent 13F filing with the SEC. The fund purchased 12,453 shares of the pipeline company’s stock, valued at approximately $181,000.

Other hedge funds have also recently made changes to their positions in the company. Rise Advisors LLC grew its position in Energy Transfer by 88.2% in the fourth quarter. Rise Advisors LLC now owns 1,978 shares of the pipeline company’s stock worth $27,000 after acquiring an additional 927 shares in the last quarter. Strategic Investment Solutions Inc. IL purchased a new position in Energy Transfer in the first quarter worth $25,000. IMA Wealth Inc. grew its position in Energy Transfer by 100.0% in the second quarter. IMA Wealth Inc. now owns 2,400 shares of the pipeline company’s stock worth $30,000 after acquiring an additional 1,200 shares in the last quarter. Ronald Blue Trust Inc. purchased a new position in Energy Transfer in the third quarter worth $34,000. Finally, Householder Group Estate & Retirement Specialist LLC purchased a new position in Energy Transfer in the third quarter worth $35,000. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on ET shares. UBS Group cut their target price on shares of Energy Transfer from $23.00 to $22.00 and set a “buy” rating for the company in a research report on Thursday, February 15th. Citigroup upped their price target on shares of Energy Transfer from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.57.

Energy Transfer Trading Down 0.9 %

Shares of NYSE:ET traded down $0.13 during midday trading on Wednesday, hitting $15.10. 22,004,915 shares of the stock traded hands, compared to its average volume of 10,364,834. The stock has a market capitalization of $50.88 billion, a PE ratio of 13.83 and a beta of 1.64. The business’s 50 day moving average is $15.10 and its two-hundred day moving average is $14.21. The company has a quick ratio of 0.88, a current ratio of 1.10 and a debt-to-equity ratio of 1.37. Energy Transfer LP has a one year low of $12.18 and a one year high of $16.04.

Energy Transfer (NYSE:ET) last issued its quarterly earnings data on Wednesday, February 14th. The pipeline company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.29 by $0.08. The firm had revenue of $20.53 billion during the quarter, compared to the consensus estimate of $21.46 billion. Energy Transfer had a net margin of 4.85% and a return on equity of 12.17%. The company’s quarterly revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.34 earnings per share. As a group, research analysts forecast that Energy Transfer LP will post 1.44 earnings per share for the current year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 20th. Investors of record on Wednesday, February 7th were paid a $0.315 dividend. This is an increase from Energy Transfer’s previous quarterly dividend of $0.31. This represents a $1.26 dividend on an annualized basis and a yield of 8.34%. The ex-dividend date was Tuesday, February 6th. Energy Transfer’s dividend payout ratio is presently 115.60%.

About Energy Transfer

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.