This morning we watched Energy Transfer LP drop -2.3% to a price of $15.62 per share. The Large-Cap Oil & Gas Transportation and Processing company is now trading -18.77% below its average target price of $19.23. Analysts have set target prices ranging from $17.0 to $24.0 per share for Energy Transfer LP, and have given the stock an average rating of buy.
The stock has a very low short interest at 1.2%, and a short ratio of 3.38. The company's insiders own 10.15% of its outstanding shares, which indicates a strong alignment between management and shareholder interests. Finally, we also note that only a small number of institutional investors are invested in the stock, with 34.3% of Energy Transfer LP's shares being owned by this investor type.
Institutions Invested in Energy Transfer LP
| Date Reported | Holder | Percentage | Shares | Value |
|---|---|---|---|---|
| 2024-03-31 | Blackstone Inc | 4% | 147,449,969 | $2,303,168,498 |
| 2024-03-31 | Goldman Sachs Group Inc | 2% | 73,050,374 | $1,141,046,833 |
| 2024-03-31 | Alps Advisors Inc. | 2% | 69,661,737 | $1,088,116,323 |
| 2024-03-31 | Invesco Ltd. | 2% | 58,523,694 | $914,140,093 |
| 2024-03-31 | Morgan Stanley | 2% | 55,160,756 | $861,611,002 |
| 2024-03-31 | Bank of America Corporation | 1% | 49,599,210 | $774,739,654 |
| 2024-06-30 | Tortoise Capital Advisors, LLC | 1% | 36,668,846 | $572,767,370 |
| 2024-03-31 | UBS Group AG | 1% | 32,906,205 | $513,994,918 |
| 2024-03-31 | JP Morgan Chase & Company | 1% | 30,754,807 | $480,390,081 |
| 2024-03-31 | ClearBridge Investments, LLC | 1% | 24,841,747 | $388,028,085 |
Besides an analyst consensus of some upside potential, other market factors point to there being positive market sentiment on Energy Transfer LP.
