Energy Transfer LP $ET Shares Bought by Texas Capital Bank Wealth Management Services Inc

Texas Capital Bank Wealth Management Services Inc lifted its holdings in Energy Transfer LP (NYSE:ET) by 3.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 730,689 shares of the pipeline company’s stock after purchasing an additional 27,386 shares during the period. Texas Capital Bank Wealth Management Services Inc’s holdings in Energy Transfer were worth $12,049,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Royal Palms Capital LLC acquired a new position in shares of Energy Transfer in the fourth quarter worth about $2,658,000. Integrity Alliance LLC. boosted its holdings in shares of Energy Transfer by 113.0% in the fourth quarter. Integrity Alliance LLC. now owns 33,691 shares of the pipeline company’s stock worth $556,000 after buying an additional 17,875 shares during the period. Cary Street Partners Financial LLC boosted its holdings in shares of Energy Transfer by 3.5% in the fourth quarter. Cary Street Partners Financial LLC now owns 167,517 shares of the pipeline company’s stock worth $2,762,000 after buying an additional 5,693 shares during the period. MSH Capital Advisors LLC boosted its holdings in shares of Energy Transfer by 50.7% during the fourth quarter. MSH Capital Advisors LLC now owns 91,634 shares of the pipeline company’s stock worth $1,511,000 after purchasing an additional 30,825 shares during the period. Finally, Fisher Asset Management LLC boosted its holdings in shares of Energy Transfer by 46.0% during the fourth quarter. Fisher Asset Management LLC now owns 31,989 shares of the pipeline company’s stock worth $528,000 after purchasing an additional 10,079 shares during the period. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Energy Transfer Trading Down 1.2%

Shares of Energy Transfer stock opened at $19.37 on Thursday. The firm has a market capitalization of $66.64 billion, a PE ratio of 16.14, a price-to-earnings-growth ratio of 1.18 and a beta of 0.57. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.17 and a quick ratio of 0.93. The company’s fifty day moving average price is $19.41 and its two-hundred day moving average price is $18.13. Energy Transfer LP has a 52-week low of $16.18 and a 52-week high of $20.70.

Energy Transfer (NYSE:ET) last announced its quarterly earnings results on Tuesday, May 5th. The pipeline company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.05). The business had revenue of $27.77 billion during the quarter, compared to the consensus estimate of $25.78 billion. Energy Transfer had a net margin of 4.66% and a return on equity of 9.77%. The company’s quarterly revenue was up 32.1% compared to the same quarter last year. During the same period last year, the firm earned $0.36 EPS. On average, analysts expect that Energy Transfer LP will post 1.37 EPS for the current year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Friday, May 8th were paid a $0.3375 dividend. The ex-dividend date was Friday, May 8th. This represents a $1.35 annualized dividend and a dividend yield of 7.0%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.34. Energy Transfer’s dividend payout ratio is presently 112.50%.

Analyst Ratings Changes

Several analysts recently commented on the stock. Scotiabank restated an “outperform” rating on shares of Energy Transfer in a report on Tuesday, May 12th. Truist Financial assumed coverage on shares of Energy Transfer in a report on Tuesday, March 24th. They set a “buy” rating and a $23.00 price target for the company. Raymond James Financial reiterated a “strong-buy” rating on shares of Energy Transfer in a research note on Wednesday, May 6th. Stifel Nicolaus lifted their target price on shares of Energy Transfer from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Finally, Morgan Stanley lifted their price target on shares of Energy Transfer from $21.00 to $23.00 and gave the company an “equal weight” rating in a research report on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $23.45.

Energy Transfer Company Profile

Energy Transfer (NYSE: ET) is a Dallas-based midstream energy company that develops and operates infrastructure for the transportation, storage and processing of hydrocarbons. The company’s operations focus on moving and storing natural gas, natural gas liquids (NGLs), crude oil and refined products through an integrated network of pipelines, terminals, storage facilities and processing plants. Energy Transfer provides core midstream services such as gathering, compression, fractionation, processing, and bulk transportation to support production and downstream supply chains.

Its asset base spans an extensive network across the United States, connecting producing regions, processing centers, petrochemical hubs and coastal and inland markets.