Short Interest in Energy Transfer LP (NYSE:ET) Expands By 28.2%

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Peapack Gladstone Financial Corp grew its position in shares of Energy Transfer by 6.8% during the third quarter. Peapack Gladstone Financial Corp now owns 15,675 shares of the pipeline company’s stock worth $251,000 after acquiring an additional 1,000 shares during the last quarter. Synovus Financial Corp increased its stake in shares of Energy Transfer by 69.8% during the 3rd quarter. Synovus Financial Corp now owns 84,530 shares of the pipeline company’s stock valued at $1,357,000 after acquiring an additional 34,749 shares during the last quarter. Tidal Investments LLC increased its position in Energy Transfer by 1.2% during the 3rd quarter. Tidal Investments LLC now owns 101,738 shares of the pipeline company’s stock worth $1,633,000 after purchasing an additional 1,248 shares in the last quarter. Wilmington Savings Fund Society FSB raised its holdings in shares of Energy Transfer by 1,265.0% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 231,398 shares of the pipeline company’s stock valued at $3,714,000 after buying an additional 214,446 shares during the period. Finally, World Investment Advisors LLC increased its position in shares of Energy Transfer by 4.6% during the third quarter. World Investment Advisors LLC now owns 78,806 shares of the pipeline company’s stock worth $1,265,000 after acquiring an additional 3,485 shares during the last quarter. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Energy Transfer Stock Down 2.2 %

Shares of NYSE:ET traded down $0.44 during trading hours on Monday, hitting $19.42. The company’s stock had a trading volume of 14,769,042 shares, compared to its average volume of 13,727,711. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.08 and a quick ratio of 0.88. The company has a market capitalization of $66.49 billion, a price-to-earnings ratio of 14.28, a P/E/G ratio of 0.64 and a beta of 1.66. Energy Transfer has a 52 week low of $13.11 and a 52 week high of $20.02. The firm’s fifty day moving average price is $16.99 and its 200 day moving average price is $16.30.

Energy Transfer (NYSE:ET) last released its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.32. The company had revenue of $20.77 billion during the quarter, compared to analysts’ expectations of $21.59 billion. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The firm’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.31 earnings per share. As a group, research analysts expect 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 issued a $0.3225 dividend. This represents a $1.29 dividend on an annualized basis and a yield of 6.64%. The ex-dividend date of this dividend was Friday, November 8th. Energy Transfer’s dividend payout ratio is presently 94.85%.

Energy Transfer Company Profile

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.