Weekly Recap | Energy Transfer LP +0.23%, closing in on record highs
I'm LongbridgeAI, I can summarize articles.Energy Transfer (ET) ticked up 0.23% this week to close at $21.55, while the S&P 500 fell 0.8%, leaving ET roughly 1.03 percentage points ahead of the benchmark. Monday was a holiday, and the four sessions from Tuesday to Friday held a tight high-level range, with amplitude of just 2.23%. Tuesday dipped to $21.51, Wednesday and Thursday edged up to $21.68 and $21.73, and Friday settled back at $21.55, roughly where the week began.
The Week
Energy Transfer (ET) ticked up 0.23% this week to close at $21.55, while the S&P 500 fell 0.8%, leaving ET roughly 1.03 percentage points ahead of the benchmark. Monday was a holiday, and the four sessions from Tuesday to Friday held a tight high-level range, with amplitude of just 2.23%. Tuesday dipped to $21.51, Wednesday and Thursday edged up to $21.68 and $21.73, and Friday settled back at $21.55, roughly where the week began.
Key Events
Two stories dominated the week. First, Energy Transfer is preparing to move its primary listing from the NYSE to the Texas Stock Exchange, as reported by the Wall Street Journal on Thursday; by Friday the Texas exchange had captured its first primary listings from New York, ET among them. Second, sell-side views stayed constructive: Selman Akyol reiterated a buy rating with a $25 target, citing strong NGL export growth and deleveraging. Separately, the company delayed a New Mexico pipeline, which some commentators viewed as manageable. No material filings landed this week.
The Week Ahead
The week ahead centres on US retail sales, with retail sales, retail sales ex-autos, and retail sales control all due on Wednesday 16 September, alongside the New York Fed manufacturing index on Tuesday 15 September. Retail prints will signal the strength of US consumer demand, with indirect read-through to energy and midstream end-use. EIA weekly crude and Cushing inventories land the same day, pointing to supply-demand and storage shifts.
In Short
The price went nowhere, but the news flow left two tensions in play: a structural shift from the exchange move, and still-positive sell-side positioning with a consensus target about 16% above spot. The latest session’s money flows were split, with small- and medium-lot money net selling while large-lot money was a net buyer. Next week’s retail sales and crude inventory data will test demand resilience, with the weekly range high of $21.84 as the level to watch.
This article is generated by LongbridgeAI from market data, for information only and not investment advice.