Energy Transfer Stock Plunges: It Was Accused In Crime: What Details You Should Be Aware Of?

The stock was slowly and continuously increasing from $9.48 on September 29 to $10.17 on October 5 with the small volatility. However, then it sharply declined till$ 9.68 on the same day and reached $9.87 for today. Currently, the market capitalization of the ET is more than $26.67 billion. On October 5, it was announced that Pennsylvania Attorney General Josh Shapiro accused Energy Transfer LP of 48 counts of environmental crimes during the building of the long-delayed Mariner East 2 natural gas liquids pipeline.

He said that it is a duty for the companies to protect the air and water, and when these sources are harmed by the company sit is considered as a crime. The work of the Marines East has been interrupted by the government mostly because of the sinkholes near the pipeline or spills of drilling fluids used to bore under waterways. The company made an announcement that it will complete all the phases of the expansion by the end of 2021.