Short Interest in Energy Transfer LP Unit (NYSE:ET) Increases By 8.3%

Energy Transfer LP Unit (NYSE:ET) was the recipient of a significant increase in short interest in the month of July. As of July 31st, there was short interest totalling 105,202,400 shares, an increase of 8.3% from the June 30th total of 97,148,600 shares. Approximately 4.7% of the company’s shares are sold short. Based on an average daily trading volume, of 10,940,000 shares, the short-interest ratio is currently 9.6 days.

NYSE:ET traded down $0.05 during mid-day trading on Thursday, reaching $13.09. 10,689,601 shares of the company’s stock traded hands, compared to its average volume of 10,718,798. Energy Transfer LP Unit has a 12-month low of $11.68 and a 12-month high of $18.38. The firm has a market capitalization of $35.10 billion, a price-to-earnings ratio of 11.38 and a beta of 1.54. The company has a debt-to-equity ratio of 1.52, a current ratio of 1.06 and a quick ratio of 0.81. The company has a 50 day moving average price of $14.36 and a 200-day moving average price of $14.78.

Energy Transfer LP Unit (NYSE:ET) last posted its earnings results on Wednesday, August 7th. The pipeline company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). Energy Transfer LP Unit had a return on equity of 9.18% and a net margin of 4.99%. The firm had revenue of $13.88 billion for the quarter, compared to analysts’ expectations of $14.49 billion. The company’s revenue for the quarter was down 1.7% on a year-over-year basis. As a group, analysts forecast that Energy Transfer LP Unit will post 1.44 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, August 19th. Shareholders of record on Tuesday, August 6th will be issued a dividend of $0.305 per share. The ex-dividend date of this dividend is Monday, August 5th. This represents a $1.22 dividend on an annualized basis and a dividend yield of 9.32%. Energy Transfer LP Unit’s dividend payout ratio (DPR) is 106.09%.

A number of brokerages recently issued reports on ET. Zacks Investment Research downgraded Energy Transfer LP Unit from a “buy” rating to a “hold” rating in a report on Thursday, July 25th. Wells Fargo & Co boosted their price target on Energy Transfer LP Unit from $21.00 to $22.00 and gave the company an “outperform” rating in a report on Friday, August 9th. Raymond James restated an “average” rating and set a $19.00 price target on shares of Energy Transfer LP Unit in a report on Friday, June 21st. ValuEngine upgraded Energy Transfer LP Unit from a “strong sell” rating to a “sell” rating in a report on Wednesday, July 17th. Finally, Citigroup set a $20.00 price target on Energy Transfer LP Unit and gave the company a “buy” rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $19.67.

In other news, EVP Thomas P. Mason sold 75,000 shares of Energy Transfer LP Unit stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $13.97, for a total value of $1,047,750.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Michael K. Grimm acquired 3,888 shares of the firm’s stock in a transaction dated Friday, June 14th. The stock was bought at an average price of $14.14 per share, for a total transaction of $54,976.32. The disclosure for this purchase can be found here. 3.28% of the stock is currently owned by insiders.

Hedge funds have recently bought and sold shares of the business. Westside Investment Management Inc. bought a new stake in shares of Energy Transfer LP Unit in the 2nd quarter worth approximately $1,981,000. Cullen Frost Bankers Inc. boosted its position in shares of Energy Transfer LP Unit by 0.3% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 261,315 shares of the pipeline company’s stock worth $3,679,000 after purchasing an additional 886 shares in the last quarter. Bronfman E.L. Rothschild L.P. boosted its position in shares of Energy Transfer LP Unit by 3.4% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 29,502 shares of the pipeline company’s stock worth $415,000 after purchasing an additional 960 shares in the last quarter. GAM Holding AG boosted its position in shares of Energy Transfer LP Unit by 8.8% in the 2nd quarter. GAM Holding AG now owns 11,904 shares of the pipeline company’s stock worth $168,000 after purchasing an additional 960 shares in the last quarter. Finally, Moloney Securities Asset Management LLC boosted its position in shares of Energy Transfer LP Unit by 4.7% in the 2nd quarter. Moloney Securities Asset Management LLC now owns 22,001 shares of the pipeline company’s stock worth $310,000 after purchasing an additional 994 shares in the last quarter. Hedge funds and other institutional investors own 57.41% of the company’s stock.

Energy Transfer LP Unit Company Profile

Energy Transfer LP provides energy-related services in the United States and China. The company owns and operates approximately 9,400 miles of natural gas transportation pipelines and three natural gas storage facilities in Texas; and approximately 12,200 miles of interstate natural gas pipelines. It sells natural gas to electric utilities, independent power plants, local distribution companies, industrial end-users, and other marketing companies.

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