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 March 03rd, the Representative disclosed that they had bought between $1,001 and $15,000 in Energy Transfer stock on February 19th.

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

• Purchased $1,001 – $15,000 in shares of Alliance Resource Partners (NASDAQ:ARLP) on 2/14/2025.
• Sold $15,001 – $50,000 in shares of Energy Transfer (NYSE:ET) on 12/6/2024.
• Purchased $1,001 – $15,000 in shares of Duke Energy (NYSE:DUK) 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 AbbVie (NYSE:ABBV) on 12/6/2024.
• 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.

Energy Transfer Stock Down 1.4 %

ET stock opened at $18.21 on Thursday. Energy Transfer LP has a fifty-two week low of $14.87 and a fifty-two week high of $21.45. The business’s 50-day moving average is $19.87 and its two-hundred day moving average is $18.08. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.88 and a current ratio of 1.12. The company has a market cap of $62.47 billion, a price-to-earnings ratio of 14.22, a P/E/G ratio of 0.64 and a beta of 1.69.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data on Tuesday, February 11th. The pipeline company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.06). Energy Transfer had a return on equity of 11.56% and a net margin of 5.74%. As a group, analysts forecast that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th were issued a $0.325 dividend. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.30 dividend on an annualized basis and a yield of 7.14%. Energy Transfer’s dividend payout ratio is currently 101.56%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. UBS Group reaffirmed a “buy” rating on shares of Energy Transfer in a research note on Tuesday. Wells Fargo & Company raised their price objective on Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. Royal Bank of Canada raised their price objective on Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Stifel Nicolaus raised their price objective on Energy Transfer from $21.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Finally, The Goldman Sachs Group raised their price objective on Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a research note on Thursday, December 19th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $21.55.

Hedge Funds Weigh In On Energy Transfer

Several institutional investors have recently added to or reduced their stakes in ET. Pinnacle Associates Ltd. grew its holdings in Energy Transfer by 21.1% during the 3rd quarter. Pinnacle Associates Ltd. now owns 46,642 shares of the pipeline company’s stock valued at $749,000 after buying an additional 8,117 shares in the last quarter. US Bancorp DE grew its holdings in Energy Transfer by 3.4% during the 3rd quarter. US Bancorp DE now owns 143,800 shares of the pipeline company’s stock valued at $2,308,000 after buying an additional 4,723 shares in the last quarter. Creative Financial Designs Inc. ADV grew its holdings in Energy Transfer by 10.7% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 12,410 shares of the pipeline company’s stock valued at $199,000 after buying an additional 1,200 shares in the last quarter. Gladstone Institutional Advisory LLC boosted its holdings in shares of Energy Transfer by 100.7% in the 3rd quarter. Gladstone Institutional Advisory LLC now owns 88,351 shares of the pipeline company’s stock worth $1,418,000 after purchasing an additional 44,338 shares during the period. Finally, Farther Finance Advisors LLC boosted its holdings in shares of Energy Transfer by 1,884.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 33,544 shares of the pipeline company’s stock worth $538,000 after purchasing an additional 31,854 shares during the period. Hedge funds and other institutional investors own 38.22% of the company’s stock.

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, 2027.

Foxx (Republican Party) ran for re-election to the U.S. House to represent North Carolina’s 5th Congressional District. She won in the general election on November 5, 2024.

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.