Texas Capital Bank Wealth Management Services Inc Acquires 17,510 Shares of Energy Transfer LP (NYSE:ET)

Texas Capital Bank Wealth Management Services Inc lifted its stake in shares of Energy Transfer LP (NYSE:ET) by 3.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 510,253 shares of the pipeline company’s stock after buying 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 largest holding. Texas Capital Bank Wealth Management Services Inc’s holdings in Energy Transfer were worth $9,996,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of ET. Bank of Montreal Can raised its holdings 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 valued at $244,005,000 after acquiring an additional 12,353,441 shares in the last quarter. FMR LLC grew its position in Energy Transfer by 15.7% in the fourth quarter. FMR LLC now owns 38,634,018 shares of the pipeline company’s stock valued at $756,840,000 after acquiring an additional 5,254,721 shares during the last quarter. Kayne Anderson Capital Advisors LP grew its holdings in shares of Energy Transfer by 7.7% during the 4th quarter. Kayne Anderson Capital Advisors LP now owns 23,987,750 shares of the pipeline company’s stock valued at $469,920,000 after purchasing an additional 1,723,683 shares during the last quarter. Wells Fargo & Company MN lifted its stake in Energy Transfer by 10.0% in the 4th quarter. Wells Fargo & Company MN now owns 11,662,581 shares of the pipeline company’s stock valued at $228,470,000 after purchasing an additional 1,058,603 shares during the last quarter. Finally, Hartree Partners LP acquired a new stake in shares of Energy Transfer during the 4th quarter valued at $16,083,000. 38.22% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently 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 company a “buy” rating in a report on Wednesday, February 12th. UBS Group reiterated a “buy” rating on shares of Energy Transfer in a report on Tuesday, March 4th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $23.00 target price on shares of Energy Transfer in a report on Tuesday, March 25th. Barclays increased their price target on Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Finally, Wells Fargo & Company lifted 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. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $22.09.

Energy Transfer Stock Down 2.8 %

NYSE ET traded down $0.46 on Thursday, hitting $16.21. 5,284,774 shares of the company were exchanged, compared to its average volume of 15,160,665. 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 company has a market cap of $55.62 billion, a PE ratio of 12.66, a PEG ratio of 0.64 and a beta of 1.32. The stock has a fifty day moving average of $18.74 and a 200-day moving average of $18.42.

Energy Transfer (NYSE:ET) last issued its earnings results on Tuesday, February 11th. The pipeline company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.06). Energy Transfer had a net margin of 5.74% and a return on equity of 11.56%. As a group, analysts forecast that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The firm also recently declared 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 dividend on an annualized basis and a yield of 8.02%. The ex-dividend date was Friday, February 7th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s payout ratio is 101.56%.

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.