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Energy Transfer LP (NYSE: ET) Stock Falling -8.75% Over A Month – Any Room For Its Value To Rise?

Energy Transfer LP (NYSE:ET)’s traded shares stood at 22.82 million during the last session, with the company’s beta value hitting 1.72. At the close of trading, the stock’s price was $11.99, to imply a decrease of -2.12% or -$0.26 in intraday trading. The ET share’s 52-week high remains $13.67, putting it -14.01% down since that peak but still an impressive 23.69% since price per share fell to its 52-week low of $9.15. The company has a valuation of $37.99B, with an average of 17.15 million shares in intraday trading volume over the past 10 days and average of 13.95 million shares over the past 3 months.

Analysts have given a consensus recommendation of a Buy for Energy Transfer LP (ET), translating to a mean rating of 1.60. Of 19 analyst(s) looking at the stock, 0 analyst(s) give ET a Sell rating. 3 of those analysts rate the stock as Overweight while 2 advise Hold as 14 recommend it as a Buy. 0 analyst(s) have given it an Underweight rating. Estimates put the company’s current-quarter earnings per share at $0.38.

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Energy Transfer LP (NYSE:ET) trade information

After registering a -2.12% downside in the last session, Energy Transfer LP (ET) has traded red over the past five days. The stock hit a weekly high of 12.69 this Friday, 03/17/23, dropping -2.12% in its intraday price action. The 5-day price performance for the stock is -4.84%, and -8.75% over 30 days. With these gigs, the year-to-date price performance is 1.01%. Short interest in Energy Transfer LP (NYSE:ET) saw shorts transact 76.08 million shares and set a 5.88 days time to cover.

Analysts on Wall Street suggest a consensus price target of $16.82, implying an increase of 28.72% to the stock’s current value. The extremes give us $15.00 and $21.00 for target low and target high price respectively. As such, ET has been trading -75.15% off suggested target high and -25.1% from its likely low.

Energy Transfer LP (ET) estimates and forecasts

Looking at statistics comparing Energy Transfer LP share performance against respective industry, we note that the company has underperformed competitors. Energy Transfer LP (ET) shares are -0.33% down over the last 6 months, with its year-to-date growth rate lower than industry average at 1.42% against 12.70%. Revenue is forecast to grow 31.00% this quarter before jumping 5.40% for the next one. The rating firms project that company’s revenue will grow 32.00% compared to the previous financial year.

Revenue forecast for the current quarter as set by 6 analysts is $23.81 billion. Meanwhile, for the quarter ending Mar 2023, a total of 5 analyst(s) estimate revenue growth to $22.5 billion.Earnings reports from the last fiscal year show that sales brought in $18.66 billion and $20.49 billion respectively in the corresponding quarters. In this case, analysts estimate current quarter sales to rise 27.60% before jumping 9.80% in the following quarter.

An assessment of the company’s 5-year growth patterns shows that annual earnings grew an estimated 32.60% for the past 5-year period. While 2023 is set for a -25.90% return in earnings, projections for the next 5 years are at -4.10% annually.

ET Dividends

Energy Transfer LP has its next earnings report out between May 02 and May 08. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too. Energy Transfer LP has a forward dividend ratio of 1.22, with the share yield ticking at 10.18% to continue the rising pattern observed over the past year. The company’s average dividend yield trailing the past 5-year period is 0.00%.

Energy Transfer LP (NYSE:ET)’s Major holders

Energy Transfer LP insiders hold 19.80% of total outstanding shares, with institutional holders owning 43.16% of the shares at 53.82% float percentage. In total, 43.16% institutions holds shares in the company, led by Blackstone Inc. As of Sep 29, 2022, the company held over 178.18 million shares (or 5.77% of shares), all amounting to roughly $1.97 billion.

The next major institution holding the largest number of shares is Goldman Sachs Group Inc with 82.4 million shares, or about 2.67% of shares outstanding. As of the market price on Sep 29, 2022, these shares were worth $908.84 million.

We also have Alps ETF Tr-Alerian MLP ETF and Invesco Steelpath MLP Income Fund as the top two Mutual Funds with the largest holdings of the Energy Transfer LP (ET) shares. Going by data provided on Nov 29, 2022, Alps ETF Tr-Alerian MLP ETF holds roughly 59.29 million shares. This is just over 1.92% of the total shares, with a market valuation of $743.53 million. Data from the same date shows that the other fund manager holds a little less at 34.21 million, or 1.11% of the shares, all valued at about 429.01 million.

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