During the recent session, Energy Transfer LP (NYSE:ET)’s traded shares were 2.0 million, with the beta value of the company hitting 1.65. At the last check today, the stock’s price was $16.52, reflecting an intraday gain of 0.98% or $0.16. The 52-week high for the ET share is $16.50, that puts it up 0.12 from that peak though still a striking 21.91% gain since the share price plummeted to a 52-week low of $12.90. The company’s market capitalization is $56.54B, and the average intraday trading volume over the past 10 days was 9.48 million shares, and the average trade volume was 15.70 million shares over the past three months.
Energy Transfer LP (ET) received a consensus recommendation of Buy from analysts. That translates to a mean rating of 1.45. ET has a Sell rating from 0 analyst(s) out of 7 analysts who have looked at this stock. 1 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 6 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be 0.34.
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Energy Transfer LP (NYSE:ET) trade information
Energy Transfer LP (ET) registered a 0.98% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 0.98% in intraday trading to $16.52, hitting a weekly high. The stock’s 5-day price performance is 1.35%, and it has moved by 3.25% in 30 days. Based on these gigs, the overall price performance for the year is 20.06%. The short interest in Energy Transfer LP (NYSE:ET) is 24.77 million shares and it means that shorts have 2.14 day(s) to cover.
The consensus price target of analysts on Wall Street is $15, which implies a decrease of -10.13% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $13 and $20 respectively. As a result, ET is trading at a discount of -21.07% off the target high and 21.31% off the low.
Energy Transfer LP (ET) estimates and forecasts
Statistics show that Energy Transfer LP has outperformed its competitors in share price, compared to the industry in which it operates. Energy Transfer LP (ET) shares have gone up 7.13% during the last six months, with a year-to-date growth rate more than the industry average at 21.10% against 5.20. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to grow 126.70% this quarter and then drop -5.40% in the quarter after that. In the rating firms’ projections, revenue will increase 11.50% compared to the previous financial year.
As companies strive to predict their financial trajectories, we turn our attention to the forthcoming financial quarter. Here are the insights gathered from industry analysts. Revenue for the current quarter is expected to be 23.52B as predicted by 4 analyst(s). Meanwhile, a consensus of 4 analyst(s) estimates revenue growth to 23.96B by the end of current fiscal year. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled 20.33B and 20.53B respectively. In this case, analysts expect current quarter sales to grow by 15.70% and then jump by 16.70% in the coming quarter.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings shrunk an estimated -0.88%. While earnings are projected to return 22.31% in 2024, the next five years will return 16.22% per annum.
ET Dividends
Energy Transfer LP is due to release its next quarterly earnings on 2024-Nov-06. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance. Investors should also take the other fundamental and operational aspects into account before investing in the stock. The forward dividend ratio for Energy Transfer LP is 1.26, with the dividend yield indicating at 7.66 percent, continuing the trend of increasing dividends in recent years. The average dividend yield of the company for the last 5 years is 9.98%.
Energy Transfer LP (NYSE:ET)’s Major holders
Energy Transfer LP insiders own 10.08% of total outstanding shares while institutional holders control 33.12%, with the float percentage being 36.83%. BLACKSTONE INC. is the largest shareholder of the company, while 1170.0 institutions own stock in it. As of 2024-06-30, the company held over 144.86 million shares (or 4.3004% of all shares), a total value of $2.35 billion in shares.
The next largest institutional holding, with 75.96 million shares, is of GOLDMAN SACHS GROUP INC’s that is approximately 2.255% of outstanding shares. At the market price on 2024-06-30, these shares were valued at $1.23 billion.
Also, the Mutual Funds coming in first place with the largest holdings of Energy Transfer LP (ET) shares are Alps ETF Tr-Alerian MLP ETF and Invesco Steelpath MLP Income Fund. Data provided on May 31, 2024 indicates that Alps ETF Tr-Alerian MLP ETF owns about 70.2 shares. This amounts to just over 2.05 percent of the company’s overall shares, with a $1.16 billion market value. The same data shows that the other fund manager holds slightly less at 34.82, or about 1.02% of the stock, which is worth about $575.5 million.
