Rep. Virginia Foxx Sells Off Shares of Energy Transfer LP (NYSE:ET)

Representative Virginia Foxx (R-North Carolina) recently sold shares of Energy Transfer LP (NYSE:ET). In a filing disclosed on January 06th, the Representative disclosed that they had sold between $15,001 and $50,000 in Energy Transfer stock on December 6th.

Representative Virginia Foxx also recently made the following trade(s):

• Sold $50,001 – $100,000 in shares of Via Renewables (NASDAQ:VIASP) on 12/6/2024.
• Purchased $1,001 – $15,000 in shares of American Electric Power (NASDAQ:AEP) on 12/6/2024.
• Sold $15,001 – $50,000 in shares of FLEX LNG (NYSE:FLNG) on 12/6/2024.
• Sold $50,001 – $100,000 in shares of Pembina Pipeline (NYSE:PBA) on 12/6/2024.
• Purchased $1,001 – $15,000 in shares of Bristol-Myers Squibb (NYSE:BMY) on 12/6/2024.
• Sold $15,001 – $50,000 in shares of Ardmore Shipping (NYSE:ASC) on 12/6/2024.
• Purchased $1,001 – $15,000 in shares of Amgen (NASDAQ:AMGN) on 12/6/2024.
• Purchased $1,001 – $15,000 in shares of AbbVie (NYSE:ABBV) on 12/6/2024.
• Sold $15,001 – $50,000 in shares of Alliance Resource Partners (NASDAQ:ARLP) on 12/6/2024.
• Purchased $1,001 – $15,000 in shares of Duke Energy (NYSE:DUK) on 12/6/2024.

Energy Transfer Price Performance

Shares of ET traded up $0.22 during mid-day trading on Thursday, hitting $19.71. 9,007,061 shares of the company were exchanged, compared to its average volume of 16,512,867. The stock has a market cap of $67.49 billion, a price-to-earnings ratio of 14.49, a price-to-earnings-growth ratio of 0.62 and a beta of 1.70. Energy Transfer LP has a 1-year low of $13.60 and a 1-year high of $20.02. The company has a 50 day moving average of $18.61 and a 200-day moving average of $17.01. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.88 and a current ratio of 1.08.

Energy Transfer (NYSE:ET) last announced its earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.32. The company had revenue of $20.77 billion for the quarter, compared to analysts’ expectations of $21.59 billion. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The firm’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.31 EPS. Analysts expect that Energy Transfer LP will post 1.32 EPS for the current fiscal year.

Energy Transfer Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th were given a dividend of $0.3225 per share. This represents a $1.29 dividend on an annualized basis and a yield of 6.54%. The ex-dividend date was Friday, November 8th. Energy Transfer’s dividend payout ratio is presently 94.85%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Private Client Services LLC boosted its holdings in Energy Transfer by 3.1% in the 4th quarter. Private Client Services LLC now owns 16,915 shares of the pipeline company’s stock valued at $331,000 after purchasing an additional 511 shares in the last quarter. Chickasaw Capital Management LLC boosted its stake in shares of Energy Transfer by 2.5% in the fourth quarter. Chickasaw Capital Management LLC now owns 15,738,594 shares of the pipeline company’s stock valued at $308,319,000 after buying an additional 388,073 shares in the last quarter. Fortem Financial Group LLC grew its holdings in Energy Transfer by 2.8% during the fourth quarter. Fortem Financial Group LLC now owns 205,872 shares of the pipeline company’s stock worth $4,033,000 after acquiring an additional 5,566 shares during the period. Kozak & Associates Inc. raised its position in Energy Transfer by 69.6% in the fourth quarter. Kozak & Associates Inc. now owns 5,117 shares of the pipeline company’s stock worth $100,000 after acquiring an additional 2,100 shares in the last quarter. Finally, Capital Market Strategies LLC lifted its holdings in Energy Transfer by 4.5% in the fourth quarter. Capital Market Strategies LLC now owns 23,455 shares of the pipeline company’s stock valued at $459,000 after acquiring an additional 1,000 shares during the period. Institutional investors and hedge funds own 38.22% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on ET. Wells Fargo & Company upped their price objective on shares of Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Bank of America started coverage on Energy Transfer in a research report on Thursday, October 17th. They set a “buy” rating and a $20.00 price target for the company. UBS Group boosted their price objective on Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Barclays raised their target price on Energy Transfer from $18.00 to $22.00 and gave the company an “overweight” rating in a report on Friday, December 20th. Finally, The Goldman Sachs Group boosted their price target on shares of Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a research note on Thursday, December 19th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, Energy Transfer has a consensus rating of “Moderate Buy” and a consensus target price of $20.55.

About Representative Foxx

Virginia Foxx (Republican Party) is a member of the U.S. House, representing North Carolina’s 5th Congressional District. She assumed office on January 3, 2005. Her current term ends on January 3, 2025. Foxx (Republican Party) is running for re-election to the U.S. House to represent North Carolina’s 5th Congressional District. She declared candidacy for the 2024 election. Prior to her election to the U.S. House, Foxx served as a member of the North Carolina State Senate as well as deputy secretary for management for North Carolina. Foxx was born in New York, New York. She earned a B.A. and M.A.C.T. from the University of North Carolina, Chapel Hill, in 1968 and 1972, respectively, and an Ed.D. from the University of North Carolina, Greensboro, in 1985. Foxx worked as an instructor at Caldwell Community College in Hudson, NC, and an instructor and assistant dean at Appalachian State University in Boone, NC. She owned a landscape nursery and served as Deputy Secretary for Management at the North Carolina Department of Administration.

About Energy Transfer

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.