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

Scissortail Wealth Management LLC acquired a new stake in Energy Transfer LP (NYSE:ET) in the fourth quarter, Holdings Channel.com reports. The firm acquired 12,453 shares of the pipeline company’s stock, valued at approximately $181,000.

A number of other institutional investors and hedge funds have also made changes to their positions in ET. Tyche Wealth Partners LLC acquired a new stake in shares of Energy Transfer in the fourth quarter worth approximately $406,000. Avior Wealth Management LLC boosted its stake in shares of Energy Transfer by 4.7% in the fourth quarter. Avior Wealth Management LLC now owns 30,226 shares of the pipeline company’s stock worth $417,000 after acquiring an additional 1,361 shares during the last quarter. SVB Wealth LLC boosted its stake in shares of Energy Transfer by 23.5% in the fourth quarter. SVB Wealth LLC now owns 22,597 shares of the pipeline company’s stock worth $312,000 after acquiring an additional 4,306 shares during the last quarter. Crescent Grove Advisors LLC boosted its stake in shares of Energy Transfer by 57.3% in the fourth quarter. Crescent Grove Advisors LLC now owns 322,904 shares of the pipeline company’s stock worth $4,456,000 after acquiring an additional 117,596 shares during the last quarter. Finally, Private Client Services LLC acquired a new stake in shares of Energy Transfer in the fourth quarter worth approximately $217,000. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

Energy Transfer Trading Down 0.9 %

Shares of Energy Transfer stock traded down $0.13 during trading hours on Wednesday, hitting $15.10. The company’s stock had a trading volume of 22,004,915 shares, compared to its average volume of 10,364,834. Energy Transfer LP has a twelve month low of $12.18 and a twelve month high of $16.04. The firm has a fifty day moving average of $15.10 and a 200-day moving average of $14.21. The stock has a market cap of $50.88 billion, a price-to-earnings ratio of 13.83 and a beta of 1.64. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.88 and a current ratio of 1.10.

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

Energy Transfer Increases Dividend

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

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ET. Citigroup boosted their price objective on Energy Transfer from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. UBS Group lowered their price objective on Energy Transfer from $23.00 to $22.00 and set a “buy” rating on the stock in a research note on Thursday, February 15th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Energy Transfer presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.57.

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.