Rep. Virginia Foxx Buys Energy Transfer LP (NYSE:ET) Stock

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

NYSE ET traded down $0.16 on Friday, hitting $19.05. 10,795,977 shares of the stock were exchanged, compared to its average volume of 13,666,156. The company has a market capitalization of $65.23 billion, a PE ratio of 13.96, a P/E/G ratio of 0.63 and a beta of 1.70. 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 business's fifty day moving average is $17.52 and its 200 day moving average is $16.50. Energy Transfer LP has a 52 week low of $13.54 and a 52 week high of $20.02.

Energy Transfer (NYSE:ET - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.32. The firm had revenue of $20.77 billion for the quarter, compared to analyst estimates of $21.59 billion. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The business's revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.31 earnings per share. 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 disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th were issued a $0.3225 dividend. This represents a $1.29 annualized dividend and a dividend yield of 6.77%. The ex-dividend date was Friday, November 8th. Energy Transfer's payout ratio is presently 94.85%.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Energy Transfer

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. FFG Partners LLC raised its position in shares of Energy Transfer by 3.3% during the third quarter. FFG Partners LLC now owns 1,636,626 shares of the pipeline company's stock worth $26,268,000 after purchasing an additional 52,302 shares during the period. Fidelity D & D Bancorp Inc. acquired a new position in Energy Transfer during the third quarter worth $1,207,000. Peapack Gladstone Financial Corp lifted its stake in shares of Energy Transfer by 6.8% in the third quarter. Peapack Gladstone Financial Corp now owns 15,675 shares of the pipeline company's stock valued at $251,000 after buying an additional 1,000 shares in the last quarter. Synovus Financial Corp grew its holdings in shares of Energy Transfer by 69.8% during the third quarter. Synovus Financial Corp now owns 84,530 shares of the pipeline company's stock valued at $1,357,000 after buying an additional 34,749 shares during the last quarter. Finally, Tidal Investments LLC increased its position in shares of Energy Transfer by 1.2% during the third quarter. Tidal Investments LLC now owns 101,738 shares of the pipeline company's stock worth $1,633,000 after acquiring an additional 1,248 shares in the last quarter. 38.22% of the stock is owned by 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.