Investing in Energy Transfer LP [ET]: What You Must Know


In a filing, Energy Transfer LP revealed its Executive Chairman WARREN KELCY L acquired Company’s shares for reported $17.4 million on Feb 22. In the deal valued at $12.99 per share,1,339,398 shares were bought. As a result of this transaction, WARREN KELCY L now holds 56,917,875 shares worth roughly $ 731.96 million.

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Then, Brannon Richard D bought 80,000 shares, generating $923,810 in total proceeds. Upon buying the shares at $11.55, the Director now owns 580,000 shares.

Before that, Whitehurst Bradford D. bought 5,000 shares. Energy Transfer LP shares valued at $60,000 were divested by the EVP (former CFO) at a price of $12.00 per share. As a result of the transaction, Whitehurst Bradford D. now holds 1,048,305 shares, worth roughly $13.48 million.

Citigroup initiated its Energy Transfer LP [ET] rating to a Buy in a research note published on Friday, December 09, 2022; the price target was $16. PT values the company’s stock at a premium of 19.63 to its Friday closing price. Tudor Pickering revised its rating on September 21, 2021. It rated ET as “a Buy” which previously was an “a Hold”.

Price Performance Review of ET

On Friday, Energy Transfer LP [NYSE:ET] saw its stock fall -1.15% to $12.86. On the same session, the stock had its day’s lowest price of $12.81, but rose to a high of $12.9721. Over the last five days, the stock has lost -1.46%. Energy Transfer LP shares have risen nearly 8.34% since the year began. Nevertheless, the stocks have risen 31.49% over the past one year. While a 52-week high of $13.67 was reached on 01/24/23, a 52-week low of $9.15 was recorded on 01/03/23. SMA at 50 days reached $12.53, while 200 days put it at $11.70. A total of 11.83 million shares were traded, compared to the trading of 12.27 million shares in the previous session.

Levels Of Support And Resistance For ET Stock

The 24-hour chart illustrates a support level at 12.79, which if violated will result in even more drops to 12.72. On the upside, there is a resistance level at 12.95. A further resistance level may holdings at 13.04. The Relative Strength Index (RSI) on the 14-day chart is 49.90, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.03, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 70.64%. Stochastics %K at 34.89% indicates the stock is a holding.

How much short interest is there in Energy Transfer LP?

A steep rise in short interest was recorded in Energy Transfer LP stocks on Jan 12, 2023, dropping by -3.97 million shares to a total of 76.08 million shares. Yahoo Finance data shows the prior-month short interest on Dec 14, 2022 was 80.05 million shares. There was a decline of -5.22%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 2.84% of the overall stock float, the days-to-cover ratio (short ratio) fell to 5.88.

Energy Transfer LP [ET] – Who Are The Largest Shareholders?

In filings from Harvest Fund Advisors LLC, it is revealed that the company now owns 78,427,183 shares, or roughly 2.54% of the outstanding ET shares. In other words, the investor’s shares have fallen by -17,443,661 from its previous 13-F filing of 95870844.0. Additionally, Invesco Advisers, Inc. decreased -2.70% of its stake after which the total value it holdings stand at $769,354,450, while ALPS Advisors, Inc. reduced -1.88% of its stake to hold $755.28 million in the firm. Over the last quarter, Goldman Sachs & Co. LLC sold -4,300,903 shares of Energy Transfer LP, while Tortoise Capital Advisors LLC sold -3,374,173 shares. At present, Goldman Sachs Asset Management LP is holding 28,128,486 shares valued at $373.55 million. Natixis Investment Managers Inter owned 27,385,849 shares of the company at the time of its most recent 13F filing, worth $363.68 million.

According to FactSet, Energy Transfer LP’s share price will average $16.76 in the next year, based on opinions of analysts polled by the firm. This is up nearly 30.67 percent from its previous closing price of $13.01. Analysts expect Energy Transfer LP stock to reach the higher price of $21.00, while the lowest price estimate is $15.00. However, 19 analysts have rated ET stock as a Buy in their predictions for 2023.


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