SCP Investment LP Grows Stock Holdings in Energy Transfer LP (NYSE:ET)

SCP Investment LP lifted its position in Energy Transfer LP (NYSE:ET) by 28.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 26,800 shares of the pipeline company’s stock after purchasing an additional 6,000 shares during the period. Energy Transfer accounts for about 0.4% of SCP Investment LP’s investment portfolio, making the stock its 29th biggest position. SCP Investment LP’s holdings in Energy Transfer were worth $525,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Mountain Hill Investment Partners Corp. purchased a new stake in shares of Energy Transfer in the 4th quarter worth $25,000. GAMMA Investing LLC purchased a new stake in Energy Transfer in the fourth quarter worth about $29,000. United Community Bank bought a new position in Energy Transfer during the 4th quarter worth about $35,000. Financial Life Planners purchased a new position in Energy Transfer during the 4th quarter valued at about $37,000. Finally, Tortoise Investment Management LLC raised 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 purchasing an additional 1,000 shares in the last quarter. Institutional investors own 38.22% of the company’s stock.

Energy Transfer Trading Down 0.9 %

NYSE:ET opened at $18.72 on Friday. The company has a market capitalization of $64.22 billion, a P/E ratio of 14.62, a PEG ratio of 0.64 and a beta of 1.72. The company has a current ratio of 1.12, a quick ratio of 0.88 and a debt-to-equity ratio of 1.42. Energy Transfer LP has a 12 month low of $14.90 and a 12 month high of $21.45. The firm has a fifty day simple moving average of $19.46 and a 200-day simple moving average of $18.37.

Energy Transfer (NYSE:ET) last posted its quarterly earnings results on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share for the quarter, missing the consensus estimate 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, equities research analysts anticipate that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on ET shares. UBS Group reiterated a “buy” rating on shares of Energy Transfer in a research note on Tuesday, March 4th. The Goldman Sachs Group lifted their price target on Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a report on Thursday, December 19th. Wells Fargo & Company upped their price objective on Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. Citigroup reaffirmed a “buy” rating on shares of Energy Transfer in a research report on Monday, March 24th. Finally, Barclays increased their price target on shares of Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price 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.