Cullen Frost Bankers Inc. Acquires 9,994 Shares of Energy Transfer LP (NYSE:ET)

Cullen Frost Bankers Inc. raised its holdings in Energy Transfer LP (NYSE:ET) by 8.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 127,994 shares of the pipeline company’s stock after purchasing an additional 9,994 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Energy Transfer were worth $1,766,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Alps Advisors Inc. boosted its position in Energy Transfer by 14.5% in the 3rd quarter. Alps Advisors Inc. now owns 73,666,501 shares of the pipeline company’s stock valued at $1,033,541,000 after buying an additional 9,341,798 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in Energy Transfer by 38.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,621,485 shares of the pipeline company’s stock worth $353,576,000 after purchasing an additional 7,097,074 shares during the last quarter. UBS Group AG raised its holdings in Energy Transfer by 3.9% during the 3rd quarter. UBS Group AG now owns 25,274,342 shares of the pipeline company’s stock worth $354,599,000 after purchasing an additional 953,251 shares during the last quarter. Chickasaw Capital Management LLC lifted its position in Energy Transfer by 7.5% during the 4th quarter. Chickasaw Capital Management LLC now owns 15,222,571 shares of the pipeline company’s stock valued at $210,071,000 after purchasing an additional 1,060,322 shares during the period. Finally, Barclays PLC boosted its stake in shares of Energy Transfer by 31.1% in the 3rd quarter. Barclays PLC now owns 12,378,222 shares of the pipeline company’s stock valued at $173,666,000 after purchasing an additional 2,933,353 shares during the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on ET. Mizuho reissued a “buy” rating and set a $19.00 price target (up from $18.00) on shares of Energy Transfer in a research note on Thursday, April 18th. Citigroup lifted their target price on shares of Energy Transfer from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. Stifel Nicolaus lifted their target price on shares of Energy Transfer from $18.00 to $19.00 and gave the stock a “buy” rating in a report on Thursday. Finally, UBS Group lowered their target price on shares of Energy Transfer from $23.00 to $22.00 and set a “buy” rating for the company in a report on Thursday, February 15th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Energy Transfer has an average rating of “Moderate Buy” and an average target price of $18.14.

Energy Transfer Price Performance

Shares of ET stock opened at $15.95 on Friday. Energy Transfer LP has a 12-month low of $12.21 and a 12-month high of $16.40. The firm has a market capitalization of $53.74 billion, a price-to-earnings ratio of 14.89 and a beta of 1.63. The company has a quick ratio of 0.88, a current ratio of 1.10 and a debt-to-equity ratio of 1.37. The firm has a fifty day moving average of $15.55 and a 200-day moving average of $14.44.

Energy Transfer (NYSE:ET) last announced its quarterly earnings results on Wednesday, May 8th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.04). Energy Transfer had a net margin of 4.85% and a return on equity of 12.17%. The firm had revenue of $21.63 billion during the quarter, compared to analyst estimates of $20.91 billion. During the same period last year, the firm earned $0.32 EPS. Energy Transfer’s quarterly revenue was up 13.9% on a year-over-year basis. On average, equities research analysts forecast that Energy Transfer LP will post 1.56 earnings per share for the current year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 20th. Investors of record on Monday, May 13th will be given a $0.317 dividend. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.27 annualized dividend and a yield of 7.95%. The ex-dividend date of this dividend is Friday, May 10th. Energy Transfer’s payout ratio is currently 116.51%.

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.