Energy Transfer shares are trading lower after the company announced a secondary public offering of 38,755,996 of its common units.
Portfolio Pulse from Benzinga Newsdesk
Energy Transfer shares are trading lower following the announcement of a secondary public offering of 38,755,996 common units.
August 09, 2024 | 2:36 pm
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NEGATIVE IMPACT
Energy Transfer shares are trading lower after the company announced a secondary public offering of 38,755,996 of its common units.
The announcement of a secondary public offering typically leads to a dilution of existing shares, which can negatively impact the stock price in the short term. This is reflected in the immediate trading lower of Energy Transfer shares.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100