Hsbc Holdings PLC Acquires Shares of 2,563,415 Energy Transfer LP (NYSE:ET)

Hsbc Holdings PLC purchased a new position in Energy Transfer LP (NYSE:ET) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,563,415 shares of the pipeline company’s stock, valued at approximately $50,166,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Mountain Hill Investment Partners Corp. purchased a new position in shares of Energy Transfer during the 4th quarter worth $25,000. GAMMA Investing LLC purchased a new stake in Energy Transfer in the 4th quarter worth $29,000. United Community Bank purchased a new stake in shares of Energy Transfer during the fourth quarter worth about $35,000. Financial Life Planners bought a new stake in Energy Transfer during the 4th quarter valued at approximately $37,000. Finally, Tortoise Investment Management LLC boosted its position in shares of Energy Transfer by 111.1% during the fourth quarter. Tortoise Investment Management LLC now owns 1,900 shares of the pipeline company’s stock worth $37,000 after acquiring an additional 1,000 shares during the last quarter. 38.22% of the stock is currently owned by institutional investors.

Energy Transfer Stock Performance

Shares of Energy Transfer stock opened at $17.58 on Friday. 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 firm has a market cap of $60.32 billion, a P/E ratio of 13.73, a P/E/G ratio of 0.64 and a beta of 1.32. The stock’s fifty day moving average price is $18.01 and its 200-day moving average price is $18.46. Energy Transfer LP has a 12 month low of $14.60 and a 12 month high of $21.45.

Energy Transfer (NYSE:ET) last issued its quarterly earnings data 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 return on equity of 11.56% and a net margin of 5.74%. On average, equities research analysts expect that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 20th. Shareholders of record on Friday, May 9th will be given a dividend of $0.3275 per share. This represents a $1.31 annualized dividend and a dividend yield of 7.45%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Friday, May 9th. Energy Transfer’s dividend payout ratio is presently 101.56%.

Analyst Upgrades and Downgrades

ET has been the topic of several research reports. Citigroup reaffirmed a “buy” rating on shares of Energy Transfer in a report on Monday, March 24th. Morgan Stanley increased their price target on shares of Energy Transfer from $20.00 to $26.00 and gave the company an “overweight” rating in a report on Tuesday, March 25th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $23.00 price objective on shares of Energy Transfer in a research note on Tuesday, March 25th. Barclays boosted their price objective on shares of Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Finally, Stifel Nicolaus raised their price objective 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 analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $22.09.

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.