Energy Transfer LP (NYSE:ET) Sees Large Drop in Short Interest

Energy Transfer LP (NYSE:ET) was the recipient of a large drop in short interest in the month of January. As of January 31st, there was short interest totalling 27,960,000 shares, a drop of 25.2% from the January 15th total of 37,380,000 shares. Based on an average daily volume of 17,230,000 shares, the short-interest ratio is currently 1.6 days.

Energy Transfer Price Performance

ET stock opened at $19.84 on Friday. The stock has a market cap of $67.91 billion, a PE ratio of 14.58, a P/E/G ratio of 0.52 and a beta of 1.69. The company has a current ratio of 1.08, a quick ratio of 0.88 and a debt-to-equity ratio of 1.40. Energy Transfer has a 12 month low of $13.99 and a 12 month high of $21.45. The company has a 50-day moving average price of $19.75 and a 200 day moving average price of $17.72.

Energy Transfer (NYSE:ET) last issued its earnings results on Tuesday, February 11th. The pipeline company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.06). Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. Equities research analysts anticipate that Energy Transfer will post 1.37 earnings per share for the current year.

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th will be paid a $0.325 dividend. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.30 dividend on an annualized basis and a yield of 6.55%. The ex-dividend date of this dividend is Friday, February 7th. Energy Transfer’s dividend payout ratio is currently 101.56%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. The Goldman Sachs Group lifted their price target on shares of Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a report on Thursday, December 19th. Wells Fargo & Company lifted their price target on shares of Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Stifel Nicolaus lifted their price target on shares of Energy Transfer from $21.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday. Royal Bank of Canada lifted their price target on shares of Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Finally, Barclays lifted their price target on shares of Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a report on Monday, January 13th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, Energy Transfer has a consensus rating of “Moderate Buy” and an average price target of $21.18.

Hedge Funds Weigh In On Energy Transfer

Hedge funds have recently added to or reduced their stakes in the stock. Mountain Hill Investment Partners Corp. bought a new position in shares of Energy Transfer during the fourth quarter valued at approximately $25,000. Princeton Global Asset Management LLC boosted its stake in shares of Energy Transfer by 65.0% during 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 in the last quarter. Assetmark Inc. boosted its stake in shares of Energy Transfer by 2,138.5% during the third quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock valued at $28,000 after purchasing an additional 1,668 shares in the last quarter. GAMMA Investing LLC bought a new position in shares of Energy Transfer during the fourth quarter valued at approximately $29,000. Finally, United Community Bank bought a new position in shares of Energy Transfer during the fourth quarter valued at approximately $35,000. 38.22% of the stock is currently owned by institutional investors.

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.