Short Interest in Energy Transfer LP (NYSE:ET) Rises By 12.5%

Energy Transfer LP (NYSE:ET) saw a large growth in short interest in the month of October. As of October 15th, there was short interest totalling 27,860,000 shares, a growth of 12.5% from the September 30th total of 24,770,000 shares. Based on an average daily trading volume, of 14,310,000 shares, the short-interest ratio is presently 1.9 days.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Energy Transfer

In other Energy Transfer news, Director Kelcy L. Warren purchased 3,000,000 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was bought at an average price of $15.68 per share, with a total value of $47,040,000.00. Following the transaction, the director now directly owns 123,385,650 shares of the company’s stock, valued at approximately $1,934,686,992. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Kelcy L. Warren acquired 3,000,000 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was acquired at an average cost of $15.68 per share, with a total value of $47,040,000.00. Following the transaction, the director now owns 123,385,650 shares in the company, valued at approximately $1,934,686,992. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Gregory G. Mcilwain acquired 20,000 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were purchased at an average cost of $15.68 per share, with a total value of $313,600.00. Following the completion of the transaction, the executive vice president now owns 591,211 shares in the company, valued at approximately $9,270,188.48. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired 3,040,000 shares of company stock valued at $47,667,200 in the last 90 days. Company insiders own 3.28% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Princeton Global Asset Management LLC increased its holdings in shares of Energy Transfer by 65.0% in the third quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock valued at $26,000 after purchasing an additional 650 shares during the period. LRI Investments LLC acquired a new position in Energy Transfer during the first quarter worth $29,000. HWG Holdings LP acquired a new position in Energy Transfer during the second quarter worth $33,000. Sugarloaf Wealth Management LLC grew its holdings in Energy Transfer by 43.6% during the third quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company’s stock worth $40,000 after acquiring an additional 750 shares during the period. Finally, Hudson Edge Investment Partners Inc. acquired a new position in Energy Transfer during the second quarter worth $42,000. Institutional investors and hedge funds own 38.22% of the company’s stock.

Energy Transfer Stock Performance

ET traded down $0.02 during trading on Thursday, hitting $16.46. 10,717,512 shares of the stock were exchanged, compared to its average volume of 12,999,492. The firm has a market capitalization of $56.31 billion, a P/E ratio of 13.83, a PEG ratio of 0.49 and a beta of 1.66. Energy Transfer has a 1-year low of $12.90 and a 1-year high of $16.64. The stock has a fifty day moving average price of $16.19 and a two-hundred day moving average price of $15.99. The company has a quick ratio of 0.92, a current ratio of 1.14 and a debt-to-equity ratio of 1.38.

Energy Transfer (NYSE:ET) last released its quarterly earnings results on Wednesday, August 7th. The pipeline company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.01). The firm had revenue of $20.73 billion for the quarter, compared to analyst estimates of $22.01 billion. Energy Transfer had a return on equity of 12.74% and a net margin of 5.19%. The company’s quarterly revenue was up 13.1% on a year-over-year basis. During the same period last year, the firm earned $0.25 EPS. As a group, sell-side analysts predict that Energy Transfer will post 1.35 earnings per share for the current year.

Energy Transfer Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th will be issued a $0.3225 dividend. This represents a $1.29 dividend on an annualized basis and a dividend yield of 7.84%. The ex-dividend date is Friday, November 8th. Energy Transfer’s payout ratio is currently 108.40%.

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.