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 stock traded up $0.22 during midday trading on Thursday, reaching $19.71. 9,007,061 shares of the company traded hands, compared to its average volume of 16,512,867. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.08 and a quick ratio of 0.88. The firm’s 50 day simple moving average is $18.61 and its two-hundred day simple moving average is $17.01. Energy Transfer LP has a 1-year low of $13.60 and a 1-year high of $20.02. The firm has a market cap of $67.49 billion, a PE ratio of 14.49, a price-to-earnings-growth ratio of 0.62 and a beta of 1.70.

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

Energy Transfer Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th were paid a $0.3225 dividend. This represents a $1.29 annualized dividend and a dividend yield of 6.54%. The ex-dividend date was Friday, November 8th. Energy Transfer’s dividend payout ratio (DPR) is presently 94.85%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on ET shares. The Goldman Sachs Group upped their price target on Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a report on Thursday, December 19th. Royal Bank of Canada boosted their target price on shares of Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Barclays raised their price objective on Energy Transfer from $18.00 to $22.00 and gave the stock an “overweight” rating in a research report on Friday, December 20th. UBS Group increased their price objective on Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Finally, Wells Fargo & Company increased 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. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $20.55.

Institutional Trading of Energy Transfer

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

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.