Executive Chairman WARREN KELCY L acquire 571,253 shares of Energy Transfer LP [ET]

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 $6,769,348 were purchased by WARREN KELCY L on Sep 13. At $11.85 per share, WARREN KELCY L acquired 571,253 shares. The insider’s holdings grew to 52,578,477 shares worth approximately $623.58 million following the completion of this transaction.

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Also, WARREN KELCY L purchased 2,428,747 shares, netting a total of over 29,242,114 in proceeds. Following the buying of shares at $12.04 each, the insider now holds 52,007,224 shares.

Before that, Whitehurst Bradford D. had added 10,000 shares to its account. In a trade valued at $115,000, the CFO bought Energy Transfer LP shares for $11.50 each. Upon closing the transaction, the insider’s holdings increased to 10,000 shares, worth approximately $12.42 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 Wednesday, Energy Transfer LP [NYSE: ET] plunged -0.59% to $11.86. The stock’s lowest price that day was $11.81, but it reached a high of $12.1253 in the same session. During the last five days, there has been a drop of approximately -1.25%. Over the course of the year, Energy Transfer LP shares have jumped approximately 44.11%. Shares of the company reached a 52-week high of $12.49 on 08/24/22 and a 52-week low of $8.26 on 01/03/22. A 50-day SMA is recorded $11.37, while a 200-day SMA reached $10.52. Nevertheless, trading volume fell to 20.14 million shares from 16.59 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 11.74, which, if violated, would cause prices to drop to 11.62. In the upper region, resistance lies at 12.05. The next price resistance is at 12.25. RSI (Relative Strength Index) is 52.87 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.09, which suggests the price will decrease in the coming days. Percent R is at 37.78%, indicating low price movement. Stochastics %K at holding 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 104,355,669 shares, which is about 3.38% of the total ET shares outstanding. The investor’s shares have appreciated by 1,984,136 from its previous 13-F filing of 102371533.0 shares. With the completion of the buy transaction, Goldman Sachs & Co. LLC’s stake is now worth $742,258,163. Invesco Advisers, Inc. reduced a -3.91% interest valued at $697.48 million while ALPS Advisors, Inc. sold a -6,342,085 stake. A total of -2,084,830 shares of Energy Transfer LP were sold by Tortoise Capital Advisors LLC during the quarter, and 12,504,602 were bought by Natixis Investment Managers Inter. In its current portfolio, Goldman Sachs Asset Management LP holds 29,589,043 shares valued at $346.49 million.

In terms of Energy Transfer LP share price expectations, FactSet research, analysts set an average price target of $15.75 in the next 12 months, up nearly 29.92% from the previous closing price of $11.93. Analysts anticipate Energy Transfer LP stock to reach $20.00 by 2022, with the lowest price target being $14.00. 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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