Energy Transfer LP Unit (NYSE:ET) was the target of a large increase in short interest during the month of July. As of July 31st, there was short interest totalling 105,202,400 shares, an increase of 8.3% from the June 30th total of 97,148,600 shares. Approximately 4.7% of the shares of the stock are short sold. Based on an average daily trading volume, of 10,940,000 shares, the days-to-cover ratio is currently 9.6 days.

A number of equities analysts have issued reports on ET shares. Wells Fargo & Co upped their target price on Energy Transfer LP Unit from $21.00 to $22.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. Evercore ISI set a $18.00 target price on Energy Transfer LP Unit and gave the stock a “buy” rating in a report on Wednesday, August 7th. Piper Jaffray Companies started coverage on Energy Transfer LP Unit in a report on Wednesday, July 17th. They issued an “overweight” rating and a $22.00 target price for the company. ValuEngine raised Energy Transfer LP Unit from a “strong sell” rating to a “sell” rating in a report on Wednesday, July 17th. Finally, Zacks Investment Research cut Energy Transfer LP Unit from a “buy” rating to a “hold” rating in a report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $19.67.

Shares of ET stock traded down $0.05 on Thursday, hitting $13.09. The company had a trading volume of 10,689,601 shares, compared to its average volume of 10,718,798. The firm has a market cap of $35.10 billion, a P/E ratio of 11.38 and a beta of 1.54. The stock’s 50-day moving average is $14.36 and its two-hundred day moving average is $14.78. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.81 and a current ratio of 1.06. Energy Transfer LP Unit has a twelve month low of $11.68 and a twelve month high of $18.38.

Energy Transfer LP Unit (NYSE:ET) last issued its quarterly earnings results on Wednesday, August 7th. The pipeline company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.03). The company had revenue of $13.88 billion during the quarter, compared to analyst estimates of $14.49 billion. Energy Transfer LP Unit had a net margin of 4.99% and a return on equity of 9.18%. Energy Transfer LP Unit’s revenue for the quarter was down 1.7% compared to the same quarter last year. Equities research analysts predict that Energy Transfer LP Unit will post 1.44 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, August 19th. Stockholders of record on Tuesday, August 6th will be paid a $0.305 dividend. The ex-dividend date is Monday, August 5th. This represents a $1.22 annualized dividend and a dividend yield of 9.32%. Energy Transfer LP Unit’s payout ratio is 106.09%.

In other news, Director Michael K. Grimm bought 3,888 shares of the stock in a transaction on Friday, June 14th. The stock was acquired at an average price of $14.14 per share, with a total value of $54,976.32. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Thomas P. Mason sold 75,000 shares of the company’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $13.97, for a total value of $1,047,750.00. The disclosure for this sale can be found here. 3.28% of the stock is owned by corporate insiders.

Several hedge funds have recently modified their holdings of ET. Buckingham Asset Management LLC bought a new stake in shares of Energy Transfer LP Unit during the 1st quarter valued at about $451,000. Neville Rodie & Shaw Inc. bought a new stake in shares of Energy Transfer LP Unit during the 2nd quarter valued at about $616,000. Carroll Financial Associates Inc. bought a new stake in shares of Energy Transfer LP Unit during the 2nd quarter valued at about $245,000. Heronetta Management L.P. bought a new stake in shares of Energy Transfer LP Unit during the 1st quarter valued at about $20,824,000. Finally, Meridian Investment Counsel Inc. bought a new stake in shares of Energy Transfer LP Unit during the 1st quarter valued at about $332,000. 57.41% of the stock is owned by institutional investors.

About Energy Transfer LP Unit

Energy Transfer LP provides energy-related services in the United States and China. The company owns and operates approximately 9,400 miles of natural gas transportation pipelines and three natural gas storage facilities in Texas; and approximately 12,200 miles of interstate natural gas pipelines. It sells natural gas to electric utilities, independent power plants, local distribution companies, industrial end-users, and other marketing companies.

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