11,471 Shares in Energy Transfer LP (NYSE:ET) Bought by Scissortail Wealth Management LLC

Scissortail Wealth Management LLC purchased a new position in Energy Transfer LP (NYSE:ET) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 11,471 shares of the pipeline company’s stock, valued at approximately $225,000.

A number of other institutional investors have also bought and sold shares of the business. Mountain Hill Investment Partners Corp. purchased a new position in shares of Energy Transfer during the fourth quarter valued at about $25,000. United Community Bank bought a new position in shares of Energy Transfer in the 4th quarter valued at about $35,000. Financial Life Planners bought a new position in shares of Energy Transfer in the 4th quarter valued at about $37,000. Tortoise Investment Management LLC lifted its holdings in shares of Energy Transfer by 111.1% in the 4th quarter. Tortoise Investment Management LLC now owns 1,900 shares of the pipeline company’s stock valued at $37,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Citizens National Bank Trust Department bought a new position in shares of Energy Transfer in the 4th quarter valued at about $39,000. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Energy Transfer Trading Down 0.1%

Shares of Energy Transfer stock opened at $17.96 on Friday. The firm has a 50-day simple moving average of $17.48 and a two-hundred day simple moving average of $18.55. The company has a market cap of $61.63 billion, a P/E ratio of 14.03, a price-to-earnings-growth ratio of 0.64 and a beta of 0.77. Energy Transfer LP has a fifty-two week low of $14.60 and a fifty-two week 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 results on Tuesday, May 6th. The pipeline company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.03. Energy Transfer had a net margin of 5.74% and a return on equity of 11.56%. The firm had revenue of $21.02 billion during the quarter, compared to the consensus estimate of $22.28 billion. During the same quarter in the prior year, the firm earned $0.32 EPS. The company’s revenue for the quarter was down 2.8% on a year-over-year basis. As a group, equities analysts predict that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 20th. Investors of record on Friday, May 9th will be given a dividend of $0.3275 per share. This represents a $1.31 annualized dividend and a dividend yield of 7.29%. The ex-dividend date is Friday, May 9th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.33. Energy Transfer’s dividend payout ratio is 99.24%.

Analyst Ratings Changes

Several analysts have issued reports on ET shares. Stifel Nicolaus raised their price objective on shares of Energy Transfer from $21.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. UBS Group reissued a “buy” rating on shares of Energy Transfer in a research report on Tuesday, March 4th. Citigroup reissued a “buy” rating on shares of Energy Transfer in a research report on Monday, March 24th. Wells Fargo & Company reduced their price target on Energy Transfer from $22.00 to $21.00 and set an “overweight” rating for the company in a research report on Wednesday, May 7th. Finally, Morgan Stanley boosted their price target on Energy Transfer from $20.00 to $26.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 25th. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $22.09.

Energy Transfer Company 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.