On August 12, 2024, Thomas Long, Co-Chief Executive Officer of Energy Transfer LP (NYSE:ET), bought 20,000 shares of the company, as reported in a recent SEC Filing. Following this transaction, the insider now owns 4,308,859 shares of Energy Transfer LP.
Energy Transfer LP operates as a prominent player in the energy sector, focusing on the transportation and storage of natural gas and crude oil. The company’s extensive network of pipeline assets plays a crucial role in the energy infrastructure of the United States.
Over the past year, Thomas Long has engaged in the purchase of 20,000 shares and has not sold any shares. This recent acquisition aligns with a broader pattern of insider activity at Energy Transfer LP, where there have been 12 insider buys and no insider sells over the last year.
On the date of the latest purchase, shares of Energy Transfer LP were priced at $15.68. The company’s market cap stood at approximately $53.32 billion. The price-earnings ratio of the stock is 13.09, which is above the industry median of 10.98.
According to the GF Value, the intrinsic value estimate for Energy Transfer LP is $11.68 per share, making the stock significantly overvalued with a price-to-GF-Value ratio of 1.34. The GF Value is calculated based on historical trading multiples, a GuruFocus adjustment factor, and future business performance estimates.
This insider purchase could indicate a strong belief in the company’s future prospects or undervaluation, despite the current market valuation metrics suggesting a premium against its GF Value.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
This article first appeared on GuruFocus.
