Energy Transfer LP (NYSE: ET) Update on Short Interest
Energy Transfer LP (NYSE: ET) benefited from a significant increase in short interest in March. As of March 31, there was short interest totaling 65,340,000 shares, an increase of 76.8% from the total of 36,950,000 shares as of March 15. Currently, 2.9% of the company’s shares are sold short. Based on an average trading volume of 22,340,000 shares, the day / coverage ratio is currently 2.9 days.
Actions of AND open for $ 8.06 on Fridays. The company has a debt to equity ratio of 1.64, a current ratio of 1.02, and a quick ratio of 0.73. The company has a 50-day simple moving average of $ 7.99 and a two-hundred-day simple moving average of $ 6.72. The energy transfer has a one-year minimum of $ 4.98 and a one-year maximum of $ 9.55. The company has a market cap of $ 21.78 billion, a P / E ratio of -80.60 and a beta of 2.54.
Energy Transfer (NYSE: ET) last released its quarterly results on Tuesday, February 16. The pipeline company reported earnings per share of $ 0.19 for the quarter, missing the Thomson Reuters consensus estimate of $ 0.26 per ($ 0.07). Energy Transfer recorded a negative net margin of 0.64% and a positive return on equity of 8.23%. The company posted revenue of $ 10.03 billion for the quarter, compared to analysts’ expectations of $ 10.33 billion. On average, selling analysts expect Energy Transfer to post 0.88 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, February 19. Shareholders of record on Monday February 8 received a dividend of $ 0.1525 per share. This represents an annualized dividend of $ 0.61 and a yield of 7.57%. The ex-dividend date was Friday February 5. Energy Transfer’s payout ratio is 42.07%.
Major investors have recently bought and sold shares in the company. HBW Advisory Services LLC acquired a new stake in Energy Transfer shares in the fourth quarter valued at approximately $ 66,000. Wealthstreet Investment Advisors LLC increased its stake in Energy Transfer by 24.6% in the 4th quarter. Wealthstreet Investment Advisors LLC now owns 364,197 shares of the pipeline company valued at $ 2,251,000 after acquiring an additional 71,900 shares in the last quarter. Perigon Wealth Management LLC purchased a new stake in Energy Transfer shares during the fourth quarter valued at $ 28,000. Adams Asset Advisors LLC increased its holdings in Energy Transfer by 1.7% in the 4th quarter. Adams Asset Advisors LLC now owns 1,066,832 shares of the pipeline company valued at $ 6,593,000 after acquiring an additional 17,753 shares in the last quarter. Finally, Wade GW & Inc. acquired a new position in Energy Transfer in the fourth quarter valued at approximately $ 77,000. Hedge funds and other institutional investors hold 36.42% of the company’s shares.
A number of equity analysts have published reports on the company. UBS Group raised its price target on energy transfer from $ 15.00 to $ 16.00 and gave the company a “buy” rating in a research note on Thursday, February 25. Credit Suisse Group raised its price target on energy transfer from $ 10 to $ 11 and gave the company an “outperformance” rating in a research report on Monday, March 8. Zacks investment research improved the energy transfer from a “sell” note to a “sustain” note in a research note on Tuesday, March 23. Barclays upgraded Energy Transfer from a “peer-to-peer” rating to an “overweight” rating and increased its target price for the share from $ 9.00 to $ 10.00 in a research note on Tuesday, January 12. Finally, Piper Sandler upgraded Energy Transfer’s shares from a “neutral” rating to an “overweight” rating and increased its price target for the share from $ 7.00 to $ 9.00 in a report from Monday March 1. Four research analysts rated the stock with a sustaining rating, twelve issued a buy rating, and one rated the company as strong. Energy Transfer currently has a “Buy” consensus rating and a consensus target price of $ 10.25.
About energy transfer
Energy Transfer LP provides energy related services. The company owns and operates approximately 9,400 miles of natural gas transmission pipelines and three natural gas storage facilities in Texas; and 12,340 miles of interstate gas pipelines. It also sells natural gas to electric utilities, independent power plants, local distribution companies, industrial end users and other marketing companies.
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