Energy Transfer LP (NYSE:ET – Get 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
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:ET – Get 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
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.
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