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

Representative Virginia Foxx (R-North Carolina) recently bought shares of Energy Transfer LP (NYSE:ET). In a filing disclosed on December 11th, the Representative disclosed that they had bought between $1,001 and $15,000 in Energy Transfer stock on November 19th.

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

• Purchased $1,001 – $15,000 in shares of Hercules Capital (NYSE:HTGC) on 11/20/2024.
• Purchased $1,001 – $15,000 in shares of Alliance Resource Partners (NASDAQ:ARLP) on 11/14/2024.
• Purchased $15,001 – $50,000 in shares of Hercules Capital (NYSE:HTGC) on 10/23/2024.
• Purchased $1,001 – $15,000 in shares of Ellington Financial (NYSE:EFC) on 9/30/2024.

Energy Transfer Stock Performance

Shares of ET opened at $19.21 on Friday. Energy Transfer LP has a 12-month low of $13.22 and a 12-month high of $20.02. The stock has a market capitalization of $65.77 billion, a P/E ratio of 14.15, a P/E/G ratio of 0.63 and a beta of 1.70. The firm’s 50 day moving average is $17.47 and its 200-day moving average is $16.48. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.08 and a quick ratio of 0.88.

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

Energy Transfer Cuts Dividend

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 6.72%. The ex-dividend date of this dividend was Friday, November 8th. Energy Transfer’s dividend payout ratio is currently 94.85%.

Analysts Set New Price Targets

ET has been the subject of several analyst reports. Royal Bank of Canada boosted their target price on Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a report on Monday. UBS Group upped their price objective on shares of Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Finally, Bank of America started coverage on shares of Energy Transfer in a research note on Thursday, October 17th. They issued a “buy” rating and a $20.00 target price on the stock. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $20.38.

Institutional Trading of Energy Transfer

A number of hedge funds have recently modified their holdings of the company. Princeton Global Asset Management LLC grew its stake in Energy Transfer by 65.0% in the third quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock valued at $26,000 after acquiring an additional 650 shares during the period. Assetmark Inc. grew its position in shares of Energy Transfer by 2,138.5% in the 3rd quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock valued at $28,000 after purchasing an additional 1,668 shares during the period. HWG Holdings LP bought a new stake in Energy Transfer during the 2nd quarter worth approximately $33,000. Continuum Advisory LLC increased its stake in Energy Transfer by 44.8% during the 3rd quarter. Continuum Advisory LLC now owns 2,357 shares of the pipeline company’s stock worth $40,000 after purchasing an additional 729 shares in the last quarter. Finally, Sugarloaf Wealth Management LLC raised its holdings in Energy Transfer by 43.6% during the 3rd quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company’s stock worth $40,000 after buying an additional 750 shares during the period. 38.22% of the stock is currently owned by institutional investors and hedge funds.

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.

Energy Transfer Company Profile

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.