Hsbc Holdings PLC Purchases New Holdings in Energy Transfer LP (NYSE:ET)

Hsbc Holdings PLC acquired a new position in shares of Energy Transfer LP (NYSE:ET - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,563,415 shares of the pipeline company's stock, valued at approximately $50,166,000. Hsbc Holdings PLC owned approximately 0.07% of Energy Transfer at the end of the most recent reporting period.

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

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Royal Bank of Canada reiterated an "outperform" rating and set a $23.00 price target on shares of Energy Transfer in a research note on Tuesday, March 25th. UBS Group reiterated a "buy" rating on shares of Energy Transfer in a research report on Tuesday, March 4th. Morgan Stanley raised their target price on shares of Energy Transfer from $20.00 to $26.00 and gave the company an "overweight" rating in a research note on Tuesday, March 25th. Stifel Nicolaus increased their price objective on shares of Energy Transfer from $21.00 to $23.00 and gave the company a "buy" rating in a report on Wednesday, February 12th. Finally, Barclays increased their price target on Energy Transfer from $22.00 to $25.00 and gave the company an "overweight" rating in a research note on Monday, January 13th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, Energy Transfer currently has an average rating of "Moderate Buy" and a consensus target price of $22.09.

Energy Transfer Trading Down 0.3 %

NYSE:ET traded down $0.06 during midday trading on Tuesday, hitting $17.22. The stock had a trading volume of 4,116,934 shares, compared to its average volume of 17,165,238. The company has a quick ratio of 0.88, a current ratio of 1.12 and a debt-to-equity ratio of 1.42. The company has a market capitalization of $59.10 billion, a price-to-earnings ratio of 13.45, a PEG ratio of 0.64 and a beta of 1.32. The stock has a 50-day moving average of $17.90 and a 200 day moving average of $18.51. Energy Transfer LP has a one year low of $14.60 and a one year high of $21.45.

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%. As a group, sell-side analysts forecast that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 20th. Shareholders of record on Friday, May 9th will be issued a $0.3275 dividend. This is a positive change from Energy Transfer's previous quarterly dividend of $0.33. This represents a $1.31 annualized dividend and a yield of 7.61%. The ex-dividend date of this dividend is Friday, May 9th. Energy Transfer's dividend payout ratio (DPR) is presently 102.34%.

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.