Short Interest in Energy Transfer LP (NYSE:ET) Decreases By 5.6%

Energy Transfer LP (NYSE:ETGet Rating) was the target of a significant decline in short interest during the month of December. As of December 30th, there was short interest totalling 75,530,000 shares, a decline of 5.6% from the December 15th total of 80,050,000 shares. Approximately 3.1% of the company’s stock are short sold. Based on an average daily volume of 15,220,000 shares, the days-to-cover ratio is currently 5.0 days.

Wall Street Analyst Weigh In

Several research firms have weighed in on ET. Mizuho boosted their price target on Energy Transfer from $15.00 to $17.00 and gave the company a “buy” rating in a research note on Friday, November 4th. Citigroup started coverage on shares of Energy Transfer in a report on Thursday, December 8th. They issued a “buy” rating and a $16.00 price target on the stock. Morgan Stanley lifted their price objective on shares of Energy Transfer from $17.00 to $18.00 and gave the company an “overweight” rating in a research note on Monday, January 9th. Finally, Barclays increased their price objective on shares of Energy Transfer from $14.00 to $15.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 18th. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Energy Transfer currently has an average rating of “Buy” and an average price target of $16.00.

Insiders Place Their Bets

In other Energy Transfer news, Director Richard D. Brannon bought 80,000 shares of Energy Transfer stock in a transaction that occurred on Thursday, December 15th. The shares were bought at an average cost of $11.55 per share, with a total value of $924,000.00. Following the transaction, the director now directly owns 580,000 shares of the company’s stock, valued at approximately $6,699,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Chairman Kelcy L. Warren purchased 155,000 shares of the firm’s stock in a transaction on Monday, November 7th. The stock was acquired at an average price of $12.38 per share, with a total value of $1,918,900.00. Following the completion of the acquisition, the chairman now owns 52,733,477 shares in the company, valued at approximately $652,840,445.26. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Richard D. Brannon acquired 80,000 shares of the company’s stock in a transaction dated Thursday, December 15th. The shares were bought at an average cost of $11.55 per share, for a total transaction of $924,000.00. Following the completion of the acquisition, the director now directly owns 580,000 shares of the company’s stock, valued at $6,699,000. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 740,000 shares of company stock valued at $9,082,900. 3.28% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in ET. Janney Montgomery Scott LLC lifted its stake in Energy Transfer by 8.8% in the 2nd quarter. Janney Montgomery Scott LLC now owns 340,257 shares of the pipeline company’s stock valued at $3,518,000 after buying an additional 27,377 shares in the last quarter. Private Advisor Group LLC increased its position in shares of Energy Transfer by 44.4% during the second quarter. Private Advisor Group LLC now owns 345,892 shares of the pipeline company’s stock worth $3,452,000 after purchasing an additional 106,288 shares in the last quarter. HBW Advisory Services LLC acquired a new position in Energy Transfer in the 3rd quarter valued at $113,000. Truist Financial Corp lifted its holdings in Energy Transfer by 2.1% in the 2nd quarter. Truist Financial Corp now owns 816,120 shares of the pipeline company’s stock valued at $8,145,000 after purchasing an additional 16,939 shares in the last quarter. Finally, Visionary Wealth Advisors boosted its stake in Energy Transfer by 35.8% during the 2nd quarter. Visionary Wealth Advisors now owns 25,475 shares of the pipeline company’s stock worth $254,000 after purchasing an additional 6,715 shares during the last quarter. 37.81% of the stock is owned by institutional investors and hedge funds.

Energy Transfer Stock Performance

ET opened at $13.07 on Wednesday. The firm has a fifty day moving average price of $12.15 and a 200 day moving average price of $11.73. Energy Transfer has a 1 year low of $9.02 and a 1 year high of $13.67. The stock has a market cap of $40.37 billion, a P/E ratio of 9.75 and a beta of 1.75. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.08 and a quick ratio of 0.86.

Energy Transfer (NYSE:ETGet Rating) last issued its quarterly earnings data on Tuesday, November 1st. The pipeline company reported $0.30 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.30. The business had revenue of $22.94 billion during the quarter, compared to the consensus estimate of $27.57 billion. Energy Transfer had a net margin of 5.02% and a return on equity of 13.01%. Equities research analysts anticipate that Energy Transfer will post 1.41 earnings per share for the current year.

About Energy Transfer

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Energy Transfer LP provides natural gas pipeline transportation and transmission services. It operates through the following segments: Intrastate Transportation and Storage, Interstate Transportation and Storage, Midstream, NGL and Refined Products Transportation and Services, Crude Oil Transportation and Services, Investment in Sunoco LP, Investment in USAC, and All Other.

Further Reading

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