Texas Capital Bank Wealth Management Services Inc Raises Stock Position in Energy Transfer LP (NYSE:ET)

Texas Capital Bank Wealth Management Services Inc boosted its position in Energy Transfer LP (NYSE:ET - Free Report) by 3.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 510,253 shares of the pipeline company's stock after purchasing an additional 17,510 shares during the quarter. Energy Transfer comprises about 1.0% of Texas Capital Bank Wealth Management Services Inc's portfolio, making the stock its 19th biggest holding. Texas Capital Bank Wealth Management Services Inc's holdings in Energy Transfer were worth $9,996,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Bank of Montreal Can grew its position in Energy Transfer by 12,090.8% in the 4th quarter. Bank of Montreal Can now owns 12,455,613 shares of the pipeline company's stock worth $244,005,000 after purchasing an additional 12,353,441 shares in the last quarter. FMR LLC increased its position in shares of Energy Transfer by 15.7% during the 4th quarter. FMR LLC now owns 38,634,018 shares of the pipeline company's stock valued at $756,840,000 after purchasing an additional 5,254,721 shares during the last quarter. Kayne Anderson Capital Advisors LP raised its position in Energy Transfer by 7.7% in the fourth quarter. Kayne Anderson Capital Advisors LP now owns 23,987,750 shares of the pipeline company's stock worth $469,920,000 after acquiring an additional 1,723,683 shares during the period. Wells Fargo & Company MN boosted its stake in Energy Transfer by 10.0% in the fourth quarter. Wells Fargo & Company MN now owns 11,662,581 shares of the pipeline company's stock valued at $228,470,000 after acquiring an additional 1,058,603 shares during the last quarter. Finally, Hartree Partners LP bought a new position in Energy Transfer during the fourth quarter valued at $16,083,000. Institutional investors and hedge funds own 38.22% of the company's stock.

Remove Ads

Energy Transfer Trading Up 2.0 %

Shares of NYSE ET traded up $0.33 during midday trading on Monday, hitting $16.66. The company's stock had a trading volume of 10,041,808 shares, compared to its average volume of 15,251,668. Energy Transfer LP has a 12-month low of $14.60 and a 12-month high of $21.45. The company has a current ratio of 1.12, a quick ratio of 0.88 and a debt-to-equity ratio of 1.42. The firm has a market cap of $57.16 billion, a P/E ratio of 13.02, a price-to-earnings-growth ratio of 0.64 and a beta of 1.32. The business's 50 day moving average is $18.55 and its two-hundred day moving average is $18.44.

Energy Transfer (NYSE:ET - Get Free Report) last posted its quarterly earnings results on Tuesday, February 11th. The pipeline company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.06). Energy Transfer had a return on equity of 11.56% and a net margin of 5.74%. As a group, equities research analysts expect that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th were paid a dividend of $0.325 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.30 annualized dividend and a dividend yield of 7.80%. This is a positive change from Energy Transfer's previous quarterly dividend of $0.32. Energy Transfer's dividend payout ratio (DPR) is currently 101.56%.

Analysts Set New Price Targets

Several equities research analysts have commented on ET shares. The Goldman Sachs Group upped their price objective on shares of Energy Transfer from $17.00 to $20.00 and gave the company a "neutral" rating in a report on Thursday, December 19th. Barclays increased their target price on Energy Transfer from $22.00 to $25.00 and gave the company an "overweight" rating in a report on Monday, January 13th. Wells Fargo & Company upped their price target on Energy Transfer from $20.00 to $21.00 and gave the stock an "overweight" rating in a research note on Wednesday, December 18th. Morgan Stanley raised their price target on Energy Transfer from $20.00 to $26.00 and gave the company an "overweight" rating in a report on Tuesday, March 25th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $23.00 price target on shares of Energy Transfer in a report on Tuesday, March 25th. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Energy Transfer has a consensus rating of "Moderate Buy" and an average price target of $22.09.

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.