Energy Transfer LP (NYSE:ET) Short Interest Down 6.8% in April
the March 31st total of 53,180,000 shares. Based on an average daily trading volume, of 17,844,000 shares, the short-interest ratio is presently 2.8 days. This is the second consecutive month that Energy Transfer LP has experienced a drop in short interest. Energy Transfer LP experiences a drop
( ) was the subject of a significant decrease in short interest during April. On April 15th there were 49,570,000 shorted shares. This is a 6.8% decrease from the total of 53.180.000 shares on March 31st. Around 1.9% of shares in the company are short-sold. The short-interest rate is currently 3.9 days based on an average trading volume 12,660,000 shares.
Energy Transfer Stock Performance
The stock fell $0.22 at midday on Tuesday to $12.69. The stock changed hands 16,655,512 times, as compared to the average volume of 12,329 213. The company has a market capitalization of $39.27billion, a P/E of 9.09, and a beta value of 1.73. The debt-to equity ratio is 1.39. Current ratios are 1.17, and quick ratios are 0.93. The stock's 50-day simple moving is $12.57, and its 200 day simple moving is $12.42. The last time ) released its quarterly results was on February 15th. The company's $0.34 per share earnings for the first quarter fell short of the $0.37 consensus estimate by $0.03 Revenue for the quarter was $20.50 billion, which is lower than analyst expectations of $23.81billion. Energy Transfer's net margin was 5.17%, and its return on equity was 13.55%. Revenue for the firm increased 9.9% from the same quarter in last year. In the same quarter of the previous year, the company posted $0.29 in earnings per share. Analysts expect Energy Transfer to post an average of 1.35 earnings per shares for the current fiscal year.
Dividends on Energy Transfers Increase
A quarterly dividend was also announced by the business, and will be paid out on May 22nd. Dividends will be paid to shareholders who were in the record books on Monday, 8th May. This is a dividend of $1.23 per year and yields 9.71%. Energy Transfer increased its previous quarterly dividend from $0.31 to $1.23. This dividend will be paid on Friday, May 5. Energy Transfer's current dividend payout ratio is 87.77%.
Analysts set new price targets
ET has been featured in a number analyst reports. Barclays raised their target price for shares of Energy Transfer in a research note on Tuesday, April 18. Wells Fargo & Company raised their target price for shares of Energy Transfer to $16.00 in a research note on February 21st. The company was also given an 'overweight rating'. Raymond James raised their target price for shares of Energy Transfer to $17.00 in a report published on Thursday, 16th February. The company was also given a "strong-buy" rating. Morgan Stanley reduced their target price for shares of Energy Transfer in a report published on Tuesday, April 25, from $18.00 down to $17.00. Seven analysts have given the stock a buy recommendation and one analyst has given it a strong-buy rating. According to MarketBeat data, the stock currently has an average rating 'Buy' with a consensus price target of $16.43.
Insiders Bet on the Future
On Wednesday, 22nd February, 1,339 398 shares of stock were purchased. The shares were purchased at an average price of $12.99 each, resulting in a transaction total of $17 398 780.02. After the purchase, the Chairman now owns 56 917 875 shares of company stock valued at $739 363,196.25. Insiders hold 3.28% the stock of the company.
Energy Transfer: Hedge Funds weigh in
Recently, several hedge funds and institutional investors changed their holdings in the company. Moneta Group Investment Advisors LLC increased its stake in Energy Transfer shares by 109 332.4% during the fourth quarter. Moneta Group Investment Advisors LLC owns 145.943.387 shares worth $1.732,348,000, after purchasing an additional 145.810,023 in the fourth quarter. Morgan Stanley increased its stake in Energy Transfer during the fourth quarter by 20.9%. Morgan Stanley owns now 76,339 168 shares in the pipeline company, worth $906,146,000, after buying an additional 13,220 435 shares during this period. Natixis increased its stake in Energy Transfer from 56.4% to $505,669,000 during the fourth quarter. Natixis owns 42.600.549 shares in the pipeline company, worth $505,669,000, after buying an additional 15.361,035 during the period. Energy Income Partners LLC increased its stake in Energy Transfer during the fourth quarter by 4.3%. Energy Income Partners LLC owns 26633,745 of the stock of the pipeline company, worth $316.143,000, after buying an additional 1,1042,265 shares. Kayne Anderson Capital Advisors LP increased its stake in Energy Transfer during the third-quarter by 3.1%. Kayne Anderson Capital Advisors LP owns 26,135,883 of the stock of the pipeline company, worth $288.278,000, after buying an additional 777.200 shares. Hedge funds and institutional investors own 37.81%.
What is Energy Transfer?
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Energy Transfer LP offers natural gas transmission and pipeline transportation services. Energy Transfer LP operates in the following segments: Intrastate Transportation and Storage; Interstate Transportation and Storage; Midstream; NGL and Refined Products Transportation and Services; Crude Oil Transportation and Services.
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