Energy Transfer LP (NYSE:ET) Short Interest Up 28.2% in November

Energy Transfer LP (NYSE:ET) was the target of a significant increase in short interest in the month of November. As of November 15th, there was short interest totalling 31,150,000 shares, an increase of 28.2% from the October 31st total of 24,300,000 shares. Based on an average daily trading volume, of 13,980,000 shares, the short-interest ratio is currently 2.2 days.

Energy Transfer Trading Down 2.2 %

Shares of NYSE:ET traded down $0.44 during midday trading on Monday, hitting $19.42. The company had a trading volume of 14,769,042 shares, compared to its average volume of 13,727,711. The company has a current ratio of 1.08, a quick ratio of 0.88 and a debt-to-equity ratio of 1.40. Energy Transfer has a 12 month low of $13.11 and a 12 month high of $20.02. The firm has a fifty day simple moving average of $16.99 and a 200 day simple moving average of $16.30. The stock has a market cap of $66.49 billion, a price-to-earnings ratio of 14.28, a PEG ratio of 0.64 and a beta of 1.66.

Energy Transfer (NYSE:ET) last issued its earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.32. The firm had revenue of $20.77 billion for the quarter, compared to analysts’ expectations of $21.59 billion. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The company’s revenue was up .2% compared to the same quarter last year. During the same quarter last year, the business earned $0.31 earnings per share. On average, analysts predict that Energy Transfer will post 1.34 EPS for the current year.

Energy Transfer Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Friday, November 8th were paid a dividend of $0.3225 per share. This represents a $1.29 annualized dividend and a yield of 6.64%. The ex-dividend date of this dividend was Friday, November 8th. Energy Transfer’s payout ratio is presently 94.85%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on ET. Bank of America started coverage on shares of Energy Transfer in a report on Thursday, October 17th. They issued a “buy” rating and a $20.00 price objective for the company. Royal Bank of Canada upped their target price on Energy Transfer from $19.00 to $20.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Finally, UBS Group lifted their price target on shares of Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $20.00.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Tidal Investments LLC lifted its position in Energy Transfer by 12.9% in the 1st quarter. Tidal Investments LLC now owns 86,196 shares of the pipeline company’s stock valued at $1,342,000 after acquiring an additional 9,849 shares in the last quarter. LRI Investments LLC acquired a new position in shares of Energy Transfer during the first quarter worth about $29,000. Burney Co. raised its position in Energy Transfer by 288.1% in the 1st quarter. Burney Co. now owns 63,046 shares of the pipeline company’s stock valued at $992,000 after buying an additional 46,800 shares during the last quarter. Cetera Investment Advisers lifted its stake in Energy Transfer by 491.3% in the 1st quarter. Cetera Investment Advisers now owns 1,290,364 shares of the pipeline company’s stock valued at $20,297,000 after acquiring an additional 1,072,144 shares in the last quarter. Finally, Cetera Advisors LLC boosted its position in Energy Transfer by 75.6% during the 1st quarter. Cetera Advisors LLC now owns 493,991 shares of the pipeline company’s stock worth $7,770,000 after acquiring an additional 212,719 shares during the last quarter. 38.22% of the stock is owned by institutional investors and hedge funds.

About Energy Transfer

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.