Energy Transfer LP (NYSE:ET) does about 14.74M shares in volume on a normal day but saw 17513044 shares change hands in Monday trading. The company now has a market cap of 39.68B USD. Its current market price is $13.01, marking an increase of 1.96% compared to the previous close of $12.76. The 52 week high reached by this stock is $12.95 whilst the lowest price level in 52 weeks is $8.75. The script in recent trading has seen the stock touch a high of $13.07 and a low of $12.8512.
Energy Transfer LP (ET) has a 20-day trading average at $12.22 and the current price is 0.46% off the 52-week high compared with 48.69% distance from its 52-week low. The 50-day simple moving average of the closing price is $12.12 and its 200-day simple moving average is $11.51. If we look at the stock’s price movements over the week, volatility stands at 1.98%, which increases to 2.02% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 69.75 to suggest the stock is neutral.
19 analysts observing the Energy Transfer LP (ET) stock have set the 12-month price targets for the company’s shares at between $15.00 and $21.00. The consensus objective for the share price is $16.47, suggesting that the stock has a potential upside of 21.01% over the period. The median price target is 21.15% away from the current levels at $16.50.
FactSet Research has provided data showing that 19 brokerages have issued ratings for the stock. 0 analysts have rated it as a sell, while 2 advise that it is a overweight. 16 analysts have rated it as a buy and 1 have advised that investors hold their positions. The consensus recommendation rating is Buy and Wall Street’s advice is for investors to Strong Buy the stock.
The company shares received a number of brokerage firm price updates over the past month, with the latest being on December 09, 2022 when Citigroup initiated the stock to “Buy” and issued a price target of $16. BofA Securities resumed its price target at $14.
The current price level is 6.90%, 7.50%, and 13.11% away from its SMA20, SMA50, and SMA200 respectively, with the ET price moving above the 50-day SMA on January 23. Energy Transfer LP (ET) stock is up 2.68% over the week and 11.39% over the past month. Its price is 9.60% year-to-date and 36.52% over the past year.
The stock last released its quarterly earnings report for quarter ended 9/29/2022, with the company’s earnings per share (EPS) of $0.29 below consensus estimates by -$0.08. The company’s next earnings report is expected on 05/03/2023, with forecasts estimating quarterly EPS at $0.39 and $1.48 for whole year. ET’s earnings per share are forecast to shrink by -21.70% this year and 7.40% over next year. Expected sales for next quarter are $22.45 billion, which analysts say will come at $88.99 billion for the current fiscal year and next year at $90.55 billion. In addition, estimates put the company’s current quarterly revenue at an average of $23.81 billion.
Its 12-month price target is $16.50. To reach the target analysts have set, the stock logically needs to grow 21.01 percent from here. Of course, the average price target is just what the average analysts believe a stock will be worth in the next 52 weeks, and is only one metric. There are analysts with lower targets than the average, including one bearish Wall Street research firm advocating investors to wait for the price to pull back to $15.00, given the recent momentum. And then, on the bullish side of things, one analyst is expecting the stock to peak at $21.00.
Outstanding shares total 3.09B with insiders holding 19.80% of the shares and institutional holders owning 43.31% of the company’s common stock. The company has a return on investment of 11.40% and return on equity of 15.70%. The price to earnings ratio (P/E ratio) amounts to 9.66 while the forward price to earnings ratio is 8.20. The beta has a value of 1.75. Price to book ratio is 1.50 and price to sales ratio is 0.45.
According to a U.S. Securities and Exchange Commission filing, Alerian MLP ETF has reduced its position in Energy Transfer LP (ET) to 55,359,030 shares, mirroring a recent drop by -0.25%. Alerian MLP ETF dumped -0.14 million shares of Energy Transfer LP common stock bringing its total worth to about $657.11 million at the end of recent close, SEC documents show. Alerian MLP ETF isn’t the only investment manager who changed stakes and is followed by Invesco SteelPath MLP Income Fund, which added 0.35 million shares to end up with 34,210,951 shares worth $406.08 million. Kayne Anderson MLP/Midstream Inve raise their holdings by 6.43% in the company over the course of the most recent quarter. It now holds a 0.54% position in Energy Transfer LP thanks to 16.79 million shares amounting to $199.27 million.