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

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

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Gables Capital Management Inc. lifted its holdings in shares of Energy Transfer by 60.0% in the fourth quarter. Gables Capital Management Inc. now owns 1,600 shares of the pipeline company’s stock valued at $26,000 after purchasing an additional 600 shares in the last quarter. Financial Life Planners acquired a new stake in Energy Transfer during the 3rd quarter valued at $34,000. Navalign LLC acquired a new stake in Energy Transfer during the 4th quarter valued at $37,000. Core Alternative Capital acquired a new stake in Energy Transfer during the 3rd quarter valued at $46,000. Finally, Tucker Asset Management LLC acquired a new stake in Energy Transfer during the 4th quarter valued at $47,000. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. 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. UBS Group reaffirmed a “buy” rating on shares of Energy Transfer in a report on Tuesday, May 12th. Scotiabank reiterated an “outperform” rating on shares of Energy Transfer in a research note on Tuesday, May 12th. Barclays reiterated an “overweight” rating and set a $23.00 price objective (up from $22.00) on shares of Energy Transfer in a research note on Thursday, May 14th. Finally, Stifel Nicolaus increased their price objective 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. 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. Based on data from MarketBeat, Energy Transfer presently has an average rating of “Buy” and an average price target of $23.45.

Energy Transfer Trading Down 1.2%

Energy Transfer stock opened at $19.37 on Thursday. The firm’s 50-day moving average is $19.41 and its 200-day moving average is $18.13. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.93 and a current ratio of 1.17. Energy Transfer LP has a 1 year low of $16.18 and a 1 year high of $20.70. The company has a market cap of $66.64 billion, a P/E ratio of 16.14, a PEG ratio of 1.18 and a beta of 0.57.

Energy Transfer (NYSE:ET) last posted its quarterly earnings results on Tuesday, May 5th. The pipeline company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 return on equity of 9.77% and a net margin of 4.66%.The company’s quarterly revenue was up 32.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.36 earnings per share. On average, equities analysts expect that Energy Transfer LP will post 1.37 earnings per share for the current year.

Energy Transfer Increases Dividend

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

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.