Texas Capital Bank Wealth Management Services Inc Acquires 140,844 Shares of Energy Transfer LP $ET

Key Points

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Texas Capital Bank Wealth Management Services Inc lifted its holdings in Energy Transfer LP (NYSE:ET - Free Report) by 27.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 651,097 shares of the pipeline company's stock after buying an additional 140,844 shares during the quarter. Energy Transfer comprises 1.2% of Texas Capital Bank Wealth Management Services Inc's portfolio, making the stock its 12th biggest holding. Texas Capital Bank Wealth Management Services Inc's holdings in Energy Transfer were worth $12,104,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Wellington Management Group LLP bought a new stake in Energy Transfer during the 1st quarter worth about $17,177,000. Northern Trust Corp raised its holdings in Energy Transfer by 223.5% during the 1st quarter. Northern Trust Corp now owns 1,069,534 shares of the pipeline company's stock worth $19,883,000 after purchasing an additional 738,885 shares during the last quarter. Brooklyn Investment Group bought a new stake in Energy Transfer during the 1st quarter worth about $49,000. Cambiar Investors LLC raised its holdings in Energy Transfer by 18.6% during the 1st quarter. Cambiar Investors LLC now owns 376,604 shares of the pipeline company's stock worth $7,001,000 after purchasing an additional 59,005 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC raised its holdings in Energy Transfer by 6.2% during the 1st quarter. Steward Partners Investment Advisory LLC now owns 397,626 shares of the pipeline company's stock worth $7,392,000 after purchasing an additional 23,252 shares during the last quarter. 38.22% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ET. Cowen began coverage on Energy Transfer in a report on Monday, July 7th. They set a "buy" rating for the company. Wells Fargo & Company restated an "overweight" rating and set a $23.00 target price (up from $21.00) on shares of Energy Transfer in a research report on Tuesday, August 12th. TD Cowen initiated coverage on Energy Transfer in a research report on Monday, July 7th. They set a "buy" rating and a $22.00 target price for the company. JPMorgan Chase & Co. decreased their target price on Energy Transfer from $25.00 to $23.00 and set an "overweight" rating for the company in a research report on Monday, May 19th. Finally, Mizuho boosted their target price on Energy Transfer from $22.00 to $23.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 20th. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $22.75.

Energy Transfer Price Performance

Shares of ET opened at $17.34 on Tuesday. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.92 and a current ratio of 1.15. The stock has a 50 day simple moving average of $17.74 and a 200 day simple moving average of $17.96. Energy Transfer LP has a 52-week low of $14.60 and a 52-week high of $21.45. The firm has a market capitalization of $59.52 billion, a PE ratio of 13.44, a P/E/G ratio of 0.90 and a beta of 0.83.

Energy Transfer (NYSE:ET - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.32. Energy Transfer had a return on equity of 11.08% and a net margin of 5.80%. The business had revenue of $19.24 billion during the quarter, compared to analyst estimates of $24.07 billion. During the same period in the previous year, the firm earned $0.35 EPS. Energy Transfer's quarterly revenue was down 7.2% compared to the same quarter last year. Sell-side analysts predict that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 19th. Shareholders of record on Friday, August 8th will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 7.6%. The ex-dividend date is Friday, August 8th. This is a positive change from Energy Transfer's previous quarterly dividend of $0.33. Energy Transfer's dividend payout ratio (DPR) is presently 102.33%.

Insider Buying and Selling

In other Energy Transfer news, Director James Richard Perry sold 1,369 shares of the business's stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $18.48, for a total value of $25,299.12. Following the sale, the director owned 24,523 shares in the company, valued at approximately $453,185.04. The trade was a 5.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 3.28% of the company's stock.

Energy Transfer Company 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.

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