Texas Bank & Trust Co Invests $3.04 Million in Energy Transfer LP (NYSE:ET)

Texas Bank & Trust Co purchased a new position in shares of Energy Transfer LP (NYSE:ET - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 154,998 shares of the pipeline company's stock, valued at approximately $3,036,000. Energy Transfer accounts for about 1.3% of Texas Bank & Trust Co's investment portfolio, making the stock its 22nd biggest position.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in ET. Forvis Mazars Wealth Advisors LLC boosted its stake in Energy Transfer by 164.1% during the 4th quarter. Forvis Mazars Wealth Advisors LLC now owns 60,566 shares of the pipeline company's stock valued at $1,186,000 after purchasing an additional 37,633 shares in the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its holdings in shares of Energy Transfer by 4.0% during the fourth quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 7,586,598 shares of the pipeline company's stock worth $148,621,000 after acquiring an additional 293,088 shares in the last quarter. Wedbush Securities Inc. increased its position in Energy Transfer by 44.2% during the fourth quarter. Wedbush Securities Inc. now owns 135,281 shares of the pipeline company's stock worth $2,650,000 after buying an additional 41,438 shares during the last quarter. FFG Partners LLC increased its position in Energy Transfer by 0.9% during the fourth quarter. FFG Partners LLC now owns 1,650,574 shares of the pipeline company's stock worth $32,335,000 after buying an additional 13,948 shares during the last quarter. Finally, Greenland Capital Management LP acquired a new position in Energy Transfer during the fourth quarter worth $2,253,000. 38.22% of the stock is owned by institutional investors.

Energy Transfer Stock Performance

ET stock opened at $17.96 on Friday. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.12 and a quick ratio of 0.88. The company has a 50 day moving average price of $17.48 and a 200 day moving average price of $18.56. Energy Transfer LP has a fifty-two week low of $14.60 and a fifty-two week high of $21.45. The stock has a market capitalization of $61.63 billion, a PE ratio of 14.03, a price-to-earnings-growth ratio of 0.64 and a beta of 0.77.

Energy Transfer (NYSE:ET - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The pipeline company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.03. Energy Transfer had a net margin of 5.74% and a return on equity of 11.56%. The firm had revenue of $21.02 billion during the quarter, compared to analysts' expectations of $22.28 billion. During the same quarter in the previous year, the company posted $0.32 EPS. Energy Transfer's revenue was down 2.8% on a year-over-year basis. Analysts forecast that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 20th. Shareholders of record on Friday, May 9th will be issued a dividend of $0.3275 per share. This represents a $1.31 dividend on an annualized basis and a yield of 7.29%. The ex-dividend date of this dividend is Friday, May 9th. This is a positive change from Energy Transfer's previous quarterly dividend of $0.33. Energy Transfer's payout ratio is currently 99.24%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. UBS Group reaffirmed a "buy" rating on shares of Energy Transfer in a research report on Tuesday, March 4th. Wells Fargo & Company cut their price target on shares of Energy Transfer from $22.00 to $21.00 and set an "overweight" rating for the company in a research note on Wednesday, May 7th. Morgan Stanley raised their price target on shares of Energy Transfer from $20.00 to $26.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 25th. Royal Bank of Canada restated an "outperform" rating and set a $23.00 price target on shares of Energy Transfer in a research note on Tuesday, March 25th. Finally, Stifel Nicolaus raised their price target on shares of Energy Transfer from $21.00 to $23.00 and gave the stock a "buy" rating in a research note on Wednesday, February 12th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price 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.

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