In the last trading session, 9.86 million Energy Transfer LP (NYSE:ET) shares changed hands as the company’s beta touched 1.64. With the company’s per share price at $15.49 changed hands at -$0.07 or -0.45% during last session, the market valuation stood at $52.17B. ET’s last price was a discount, traded about -1.61% off its 52-week high of $15.74. The share price had its 52-week low at $11.59, which suggests the last value was 25.18% up since then. When we look at Energy Transfer LP’s average trading volume, we note the 10-day average is 10.32 million shares, with the 3-month average coming to 12.40 million.
Energy Transfer LP (NYSE:ET) trade information
Instantly ET was in red as seen at the end of in last trading. With action -1.21%, the performance over the past five days has been red. The drop to weekly highs of 15.74 subtracted -0.45% to the stock’s daily price. The company’s shares are showing year-to-date upside of 12.25%, with the 5-day performance at -1.21% in the red. However, in the 30-day time frame, Energy Transfer LP (NYSE:ET) is 5.45% up. Looking at the short shares, we see there were 38.81 million shares sold at short interest cover period of 2.71 days.
Energy Transfer LP (ET) estimates and forecasts
Data shows that the Energy Transfer LP share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 10.56% over the past 6 months, a 32.11% in annual growth rate that is considerably higher than the industry average of 7.00%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for Energy Transfer LP will rise 21.90%, while the growth in revenue is estimated to hit 36.00% for the next quarter. Year-over-year growth is forecast to reach 7.70% up from the last financial year.
Consensus estimates given by 4 financial analysts project the company’s revenue in the current quarter to hit an average of $22.5 billion. 3 analysts are of the opinion that Energy Transfer LP’s revenue for the quarter ending Jun 2024 will be $22.55 billion. The company’s revenue for the corresponding quarters a year ago was $21.45 billion. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 4.90%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -0.88%. The 2024 estimates are for Energy Transfer LP earnings to increase by 37.82%, but the outlook for the next 5-year period is at 8.20% per year.
ET Dividends
Energy Transfer LP is expected to release its next quarterly earnings report between April 30 and May 06. The 8.04% annual yield figure for the share gives it an annual dividend of 1.25. It is important to note, however, that the 8.04% dividend yield ratio should serve as a guide only, as you should also take into consideration many other aspects of a company’s operations and fundamentals before making any investment decision.
Energy Transfer LP (NYSE:ET)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 10.13% of Energy Transfer LP shares while 34.18% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 38.03%. There are 34.18% institutions holding the Energy Transfer LP stock share, with Blackstone Inc the top institutional holder. As of Jun 29, 2023, the company held 4.88% of the shares, roughly 153.27 million ET shares worth $1.95 billion.
Morgan Stanley holds the second largest percentage of outstanding shares, with 2.09% or 65.66 million shares worth $833.88 million as of Jun 29, 2023.
Among Mutual Funds, the top two as of May 30, 2023 were Alps ETF Tr-Alerian MLP ETF and Invesco Steelpath MLP Income Fund. With 62.02 million shares estimated at $769.06 million under it, the former controlled 1.97% of total outstanding shares. On the other hand, Invesco Steelpath MLP Income Fund held about 1.08% of the shares, roughly 33.81 million shares worth around $419.26 million.
