A company insider recently bought 111,653 shares of Energy Transfer LP [ET]. Should You Buy?

The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Energy Transfer LP shares valued at $1,088,082 were purchased by Brannon Richard D on Jul 15. At $9.75 per share, Brannon Richard D acquired 111,653 shares. The insider’s holdings grew to 500,000 shares worth approximately $5.55 million following the completion of this transaction.

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Also, Brannon Richard D purchased 26,027 shares, netting a total of over 246,578 in proceeds. Following the buying of shares at $9.47 each, the insider now holds 388,347 shares.

Before that, Grimm Michael K had added 504,600 shares to its account. In a trade valued at $5,657,026, the Director bought Energy Transfer LP shares for $11.21 each. Upon closing the transaction, the insider’s holdings increased to 504,600 shares, worth approximately $5.55 million.

As of September 21, 2021, Tudor Pickering has increased its “Hold” rating to a “Buy” for ET. Earlier on July 16, 2021, Wolfe Research upgraded its rating. Their new recommendation was “an Outperform” for ET stock which previously was a “a Peer perform”.

Analyzing ET’s Price Performance

On Thursday, Energy Transfer LP [NYSE: ET] plunged -1.24% to $11.11. The stock’s lowest price that day was $11.09, but it reached a high of $11.61 in the same session. During the last five days, there has been a drop of approximately -0.63%. Over the course of the year, Energy Transfer LP shares have jumped approximately 34.99%. Shares of the company reached a 52-week high of $12.48 on 05/05/22 and a 52-week low of $8.26 on 01/03/22. A 50-day SMA is recorded $10.72, while a 200-day SMA reached $10.11. Nevertheless, trading volume fell to 24.44 million shares from 17.78 million shares the previous day.

Support And Resistance Levels for Energy Transfer LP (ET)

According to the 24-hour chart, there is a support level at 10.93, which, if violated, would cause prices to drop to 10.75. In the upper region, resistance lies at 11.45. The next price resistance is at 11.79. RSI (Relative Strength Index) is 60.21 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.41, which suggests the price will decrease in the coming days. Percent R is at 30.30%, indicating low price movement. Stochastics %K at selling indicates that the stock is to be held.

Is Energy Transfer LP subject to short interest?

Stocks of Energy Transfer LP saw a sharp rise in short interest on Jul 14, 2022 jumping by 2.6 million shares to 100.1 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 97.5 million shares. A jump of 2.6% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 3.87 of the overall float, the days-to-cover ratio (short ratio) jumped to 3.87.

Which companies own the most shares of Energy Transfer LP (ET)?

According to Harvest Fund Advisors LLC filings, the company currently owns 102,371,533 shares, which is about 3.32% of the total ET shares outstanding. The investor’s shares have appreciated by 13,128,425 from its previous 13-F filing of 89243108.0 shares. With the completion of the buy transaction, ALPS Advisors, Inc.’s stake is now worth $644,493,500. Invesco Advisers, Inc. reduced a -4.50% interest valued at $618.61 million while Goldman Sachs & Co. LLC purchased a 1,555,346 stake. A total of -1,870,400 shares of Energy Transfer LP were bought by Tortoise Capital Advisors LLC during the quarter, and 7,020,944 were bought by Barclays Bank Plc. In its current portfolio, Goldman Sachs Asset Management LP holds 29,266,683 shares valued at $292.08 million.

In terms of Energy Transfer LP share price expectations, FactSet research, analysts set an average price target of $15.50 in the next 12 months, up nearly 33.33% from the previous closing price of $11.25. Analysts anticipate Energy Transfer LP stock to reach $20.00 by 2022, with the lowest price target being $13.00. In spite of this, 18 analysts ranked Energy Transfer LP stock as a Buy at the end of 2022. On May 21, 2021, Citigroup assigned a price target of “a Buy” to the stock and resumed coverage with a $14.


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