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

Hsbc Holdings PLC bought a new position in Energy Transfer LP (NYSE:ET - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,563,415 shares of the pipeline company's stock, valued at approximately $50,166,000. Hsbc Holdings PLC owned about 0.07% of Energy Transfer at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Fayez Sarofim & Co boosted its stake in shares of Energy Transfer by 317.8% in the 4th quarter. Fayez Sarofim & Co now owns 184,056 shares of the pipeline company's stock valued at $3,606,000 after purchasing an additional 140,000 shares during the last quarter. OneDigital Investment Advisors LLC lifted its stake in Energy Transfer by 3.0% in the fourth quarter. OneDigital Investment Advisors LLC now owns 20,389 shares of the pipeline company's stock valued at $399,000 after buying an additional 596 shares during the period. Stifel Financial Corp boosted its holdings in shares of Energy Transfer by 1.6% during the 4th quarter. Stifel Financial Corp now owns 5,616,600 shares of the pipeline company's stock worth $110,029,000 after buying an additional 89,377 shares in the last quarter. TD Waterhouse Canada Inc. boosted its stake in Energy Transfer by 12.3% during the fourth quarter. TD Waterhouse Canada Inc. now owns 62,912 shares of the pipeline company's stock worth $1,234,000 after acquiring an additional 6,877 shares in the last quarter. Finally, Tradition Wealth Management LLC grew its stake in shares of Energy Transfer by 5.8% in the 4th quarter. Tradition Wealth Management LLC now owns 29,573 shares of the pipeline company's stock valued at $579,000 after buying an additional 1,611 shares during the period. 38.22% of the stock is currently owned by institutional investors.

Energy Transfer Trading Up 2.8 %

NYSE ET opened at $17.58 on Friday. The stock's 50-day simple moving average is $18.01 and its two-hundred day simple moving average is $18.46. The company has a market capitalization of $60.32 billion, a price-to-earnings ratio of 13.73, a PEG ratio of 0.64 and a beta of 1.32. Energy Transfer LP has a twelve month low of $14.60 and a twelve month high of $21.45. The company has a quick ratio of 0.88, a current ratio of 1.12 and a debt-to-equity ratio of 1.42.

Energy Transfer (NYSE:ET - Get Free Report) last released its quarterly earnings data on Tuesday, February 11th. The pipeline company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.06). Energy Transfer had a return on equity of 11.56% and a net margin of 5.74%. Research analysts forecast that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently disclosed 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 is an increase from Energy Transfer's previous quarterly dividend of $0.33. This represents a $1.31 dividend on an annualized basis and a yield of 7.45%. The ex-dividend date of this dividend is Friday, May 9th. Energy Transfer's payout ratio is presently 101.56%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on ET shares. Morgan Stanley increased their target price on Energy Transfer from $20.00 to $26.00 and gave the stock an "overweight" rating in a report on Tuesday, March 25th. Barclays upped their price objective on shares of Energy Transfer from $22.00 to $25.00 and gave the stock an "overweight" rating in a research report on Monday, January 13th. 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 report on Wednesday, February 12th. UBS Group reiterated a "buy" rating on shares of Energy Transfer in a research note on Tuesday, March 4th. Finally, Citigroup restated a "buy" rating on shares of Energy Transfer in a research note on Monday, March 24th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $22.09.

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.

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