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Energy Transfer Equity Fell 4.5% Last Week: Can It Bounce Back?

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Part 4
Energy Transfer Equity Fell 4.5% Last Week: Can It Bounce Back? PART 4 OF 5

Short Interest in Energy Transfer Equity Was Better Last Week

Short interest in Energy Transfer Equity

Short interest in Energy Transfer Equity (ETE) as a percentage of float ratio fell 7.2% last week compared to 7.6% in the previous week. That might indicate a bullish sentiment. However, the ratio is still higher than the past one-year and three-year averages of 6.1% and 5.0%, respectively.

Short Interest in Energy Transfer Equity Was Better Last Week

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The above graph shows ETE’s one-year closing price and short interest as a percentage of float. Short interest is the number of shares sold short, whereas short interest as a percentage of float is the number of shares sold short divided by floating shares. A high percentage of short interest, or an increase in short interest, generally indicates pessimism about a stock. However, that might not necessarily result in a fall in the stock since short position holders try to cover their short positions, which might result in a stock rally.

Industry average

The Alerian MLP Index, which tracks 50 energy MLPs, has an average short interest as a percentage of float of 3.4%. Short interest in ETE as a percentage of float ratio is above the industry average. Sunoco (SUN), Boardwalk Pipeline Partners (BWP), and Golar LNG Partners (GMLP) are among the index’s constituents with the highest short interest-to-float ratio.

Put-call ratio

Put-call ratio is another measure to look at investors’ sentiments toward a stock. A high put-call ratio might indicate that a lot of investors expect the stock to fall in the future, and vice versa. ETE has a high put-call ratio of 1.02.

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