In the latest trading session, 2.73 million Energy Transfer LP (NYSE:ET) shares changed hands as the company’s beta touched 1.65. With the company’s most recent per share price at $16.10 changing hands around $0.04 or 0.28% at last look, the market valuation stands at $55.12B. ET’s current price is a discount, trading about -2.48% off its 52-week high of $16.50. The share price had its 52-week low at $12.89, which suggests the last value was 19.94% up since then. When we look at Energy Transfer LP’s average trading volume, we note the 10-day average is 22.35 million shares, with the 3-month average coming to 15.65 million.
Analysts gave the Energy Transfer LP (ET) stock a consensus recommendation rating of Buy, calculated at a mean rating of 1.45. If we narrow down to specifics, the data shows that 0 out of 7 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 1 recommended ET as a Hold, 6 felt it is a Buy and 0 rated the stock as Underweight. Energy Transfer LP’s EPS for the current quarter is expected to be 0.34.
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Energy Transfer LP (NYSE:ET) trade information
Instantly ET is in green as seen in intraday trades today. With action 0.85%, the performance over the past five days has been green. The company’s shares are showing year-to-date upside of 16.70%, with the 5-day performance at 0.85% in the green. However, in the 30-day time frame, Energy Transfer LP (NYSE:ET) is -1.80% down. Looking at the short shares, we see there were 34.86 million shares sold at short interest cover period of 1.97 days.
The consensus price target for the stock as assigned by Wall Street analysts is 15, meaning bulls need a downside of -7.33% from its recent market value. According to analyst projections, ET’s forecast low is 13 with 20 as the target high. To hit the forecast high, the stock’s price needs a -24.22% plunge from its current level, while the stock would need to tank 19.25% for it to hit the projected low.
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 8.45% over the past 6 months, a 28.44% in annual growth rate that is considerably higher than the industry average of 5.50%. Year-over-year growth is forecast to reach 11.10% 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 23.47B. 4 analysts are of the opinion that Energy Transfer LP’s revenue for the current quarter will be 23.9B. The company’s revenue for the corresponding quarters a year ago was 20.33B and 20.53B respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 15.40%. The estimates for the next quarter sales put growth at 16.40%.
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 25.15%, but the outlook for the next 5-year period is at 14.10% per year.
ET Dividends
Energy Transfer LP is expected to release its next quarterly earnings report on 2024-Oct-30. The 7.85% annual yield figure for the share gives it an annual dividend of 1.26. It is important to note, however, that the 7.85% 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. During the past 5 years, the average dividend yield was 10.02 per year.
Energy Transfer LP (NYSE:ET)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 10.00% of Energy Transfer LP shares while 33.08% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 36.75%. There are 33.08% institutions holding the Energy Transfer LP stock share, with BLACKSTONE INC. the top institutional holder. As of 2024-06-30, the company held 4.3004% of the shares, roughly 144.86 million ET shares worth $2.35 billion.
GOLDMAN SACHS GROUP INC holds the second largest percentage of outstanding shares, with 2.255% or 75.96 million shares worth $1.23 billion as of 2024-06-30.
Among Mutual Funds, the top two as of May 31, 2024 were Alps ETF Tr-Alerian MLP ETF and Invesco Steelpath MLP Income Fund. With 70.2 shares estimated at $1.13 billion under it, the former controlled 2.05% of total outstanding shares. On the other hand, Invesco Steelpath MLP Income Fund held about 1.02% of the shares, roughly 34.82 shares worth around $558.26 million.
