In today’s recent session, 3.7 million shares of the Energy Transfer LP (NYSE:ET) have been traded, and its beta is 1.65. Most recently the company’s share price was $15.82, and it changed around -$0.09 or -0.53% from the last close, which brings the market valuation of the company to $54.16B. ET at last check was trading at a discount to its 52-week high of $16.50, offering almost -4.3% off that amount. The share price’s 52-week low was $12.90, which indicates that the recent value has risen by an impressive 18.46% since then. We note from Energy Transfer LP’s average daily trading volume that its 10-day average is 13.75 million shares, with the 3-month average coming to 15.41 million.
Energy Transfer LP stock received a consensus recommendation rating of Buy, based on a mean score of 1.45. If we narrow it down even further, the data shows that 0 out of 16 analysts rate the stock as a Sell; another 7 rate it as Overweight. Among the rest, 1 recommended ET as a Hold, whereas 8 deemed it a Buy, and 0 rated it as Underweight. Energy Transfer LP is expected to report earnings per share of 0.34 for the current quarter.
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Energy Transfer LP (NYSE:ET) trade information
Instantly ET has been showing red trend so far today with a performance of -0.53% on intraday trading today. The performance over the last five days has remained in the red territory. The rise to weekly highs of 16.31 on recent trading dayincreased the stock’s daily price by 3.0%. The company’s shares are currently up 14.67% year-to-date, but still down -1.22% over the last five days. On the other hand, Energy Transfer LP (NYSE:ET) is -2.38% down in the 30-day period. We can see from the shorts that 31.79 million shares have been sold at a short interest cover period of 1.37 day(s).
The consensus price target as assigned by Wall Street analysts is $15, which translates to bulls needing to decrease their stock price by -5.47% from its current value. Analyst projections state that ET is forecast to be at a low of $13 and a high of $20.
Energy Transfer LP (ET) estimates and forecasts
Energy Transfer LP share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 8.91 percent over the past six months and at a 28.44% annual growth rate that is well above the industry average of 5.10%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 126.70% in revenue this quarter, and will report a decrease of -2.70% in the next quarter. The year-over-year growth rate is expected to be 11.10%, up from the previous year.
Consensus estimates provided by 4 financial analysts predict the company will bring in an average of 23.47B in revenue for the current quarter. 4 analysts expect Energy Transfer LP to make 23.9B in revenue for the current ending quarter. The company’s sales for the same quarters a year ago were 20.33B and 20.53B respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 15.40%. Forecasts for the next quarter put sales growth at 16.40%.
Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -0.88%. Energy Transfer LP earnings are expected to increase by 24.87% in 2024, but the outlook is positive 14.10% per year for the next five years.
ET Dividends
Energy Transfer LP’s next quarterly earnings report is expected to be released in September. The annual dividend yield of the stock is 7.99 percent and its annual dividend per share was 1.26. It is important to note, however, that the 7.99% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision. The average dividend yield for the past five years averaged 10.02 per year.
Energy Transfer LP (NYSE:ET)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 10.00% of Energy Transfer LP shares, and 33.08% of them are in the hands of institutional investors. The stock currently has a share float of 36.75%. Energy Transfer LP stock is held by 1180.0 institutions, with BLACKSTONE INC. being the largest institutional investor. By 2024-06-30, it held 4.3004% of the shares, which is about 144.86 million shares worth $2.35 billion.
GOLDMAN SACHS GROUP INC, with 2.255% or 75.96 million shares worth $1.23 billion as of 2024-06-30, holds the second largest percentage of outstanding shares.
Alps ETF Tr-Alerian MLP ETF and Invesco Steelpath MLP Income Fund were the top two Mutual Funds as of May 31, 2024 . The former held 70.2 shares worth $1.11 billion, making up 2.05% of all outstanding shares. On the other hand, Invesco Steelpath MLP Income Fund held roughly 34.82 shares worth around $550.95 million, which represents about 1.02% of the total shares outstanding.
