Short Interest in Energy Transfer Partners LP (NYSE:ETP) Drops By 23.4%
Energy Transfer Partners LP (NYSE:ETP) saw a significant decline in short interest during the month of May. As of May 15th, there was short interest totalling 13,782,475 shares, a decline of 23.4% from the April 30th total of 17,984,229 shares. Based on an average trading volume of 6,598,024 shares, the short-interest ratio is presently 2.1 days. Approximately 1.3% of the shares of the stock are short sold.
Several equities analysts recently commented on the stock. ValuEngine lowered shares of Energy Transfer Partners from a “sell” rating to a “strong sell” rating in a research report on Wednesday, May 2nd. Robert W. Baird set a $22.00 price objective on shares of Energy Transfer Partners and gave the stock a “buy” rating in a research note on Tuesday, February 27th. Mizuho set a $25.00 target price on shares of Energy Transfer Partners and gave the company a “buy” rating in a research note on Wednesday, April 11th. Stifel Nicolaus set a $27.00 target price on shares of Energy Transfer Partners and gave the company a “buy” rating in a research note on Friday, February 23rd. Finally, Bank of America decreased their target price on shares of Energy Transfer Partners from $26.00 to $23.00 and set a “buy” rating for the company in a research note on Tuesday, March 27th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and twelve have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $24.40.
Shares of ETP stock traded down $0.05 during trading hours on Thursday, reaching $19.14. The stock had a trading volume of 2,882,325 shares, compared to its average volume of 7,004,145. The company has a quick ratio of 0.70, a current ratio of 0.92 and a debt-to-equity ratio of 1.02. Energy Transfer Partners has a twelve month low of $15.06 and a twelve month high of $21.68. The stock has a market cap of $22.69 billion, a PE ratio of 26.58, a price-to-earnings-growth ratio of 1.31 and a beta of 0.99.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 15th. Investors of record on Monday, May 7th were issued a $0.565 dividend. The ex-dividend date of this dividend was Friday, May 4th. This represents a $2.26 dividend on an annualized basis and a dividend yield of 11.81%. Energy Transfer Partners’s dividend payout ratio (DPR) is presently 313.89%.
In other news, Director Michael K. Grimm acquired 4,600 shares of the business’s stock in a transaction dated Friday, March 16th. The stock was acquired at an average price of $17.06 per share, with a total value of $78,476.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 3.74% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in ETP. Brookfield Asset Management Inc. grew its position in Energy Transfer Partners by 273.6% in the 1st quarter. Brookfield Asset Management Inc. now owns 19,195,528 shares of the pipeline company’s stock valued at $311,352,000 after buying an additional 14,057,785 shares in the last quarter. Alps Advisors Inc. grew its position in Energy Transfer Partners by 12.2% in the 4th quarter. Alps Advisors Inc. now owns 59,550,445 shares of the pipeline company’s stock valued at $1,067,144,000 after buying an additional 6,485,765 shares in the last quarter. Summit Trail Advisors LLC grew its position in Energy Transfer Partners by 1,859.2% in the 1st quarter. Summit Trail Advisors LLC now owns 5,581,815 shares of the pipeline company’s stock valued at $5,582,000 after buying an additional 5,296,913 shares in the last quarter. Zimmer Partners LP grew its position in Energy Transfer Partners by 525.3% in the 1st quarter. Zimmer Partners LP now owns 4,083,093 shares of the pipeline company’s stock valued at $66,228,000 after buying an additional 3,430,112 shares in the last quarter. Finally, UBS Group AG grew its position in Energy Transfer Partners by 5.0% in the 1st quarter. UBS Group AG now owns 47,781,450 shares of the pipeline company’s stock valued at $775,015,000 after buying an additional 2,286,722 shares in the last quarter. Hedge funds and other institutional investors own 63.89% of the company’s stock.
About Energy Transfer Partners
Energy Transfer Partners, L.P. engages in the natural gas midstream, and intrastate transportation and storage businesses in the United States. The company's Intrastate Transportation and Storage segment transports natural gas from various natural gas producing areas through connections with other pipeline systems, as well as through its ET Fuel System and HPL System.
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