Energy Transfer LP (ET) – Don’t Be So Quick to Call it Dead

Energy Transfer LP (NYSE: ET) is -48.56% lower on its value in year-to-date trading and has touched a low of $3.75 and a high of $14.07 in the current 52-week trading range. The ET stock was last observed hovering at around $6.53 in the last trading session, with the day’s gains setting it 0.07% off its average median price target of $10.00 for the next 12 months. It is also 56.0% off the consensus price target high of $15.00 offered by 20 analysts, but current levels are -10.0% lower than the price target low of $6.00 for the same period.

Currently trading at $6.60, the stock is -0.18% and -2.19% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 16.25 million and changing 1.07% at the moment leaves the stock -27.05% off its SMA200. ET registered -51.00% loss for a year compared to 6-month loss of -44.21%. The firm has a 50-day simple moving average (SMA 50) of $6.58 and a 200-day simple moving average (SMA200) of $7.47.

The stock witnessed a 1.23% gain in the last 1 month and extending the period to 3 months gives it a -19.61%, and is -0.75% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 3.10% over the week and 3.36% over the month.

Energy Transfer LP (ET) has around 12812 employees, a market worth around $17.60B and $46.18B in sales. Current P/E ratio is 12.94 and Fwd P/E is 6.24. Profit margin for the company is 2.90%. Distance from 52-week low is 76.00% and -53.09% from its 52-week high. The company has generated returns on investments over the last 12 months (9.70%).

Energy Transfer LP (ET) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Energy Transfer LP (ET) is a “Overweight”. 20 analysts offering their recommendations for the stock have an average rating of 1.90, where 7 rate it as a Hold and 1 think it is a “Overweight”. 12 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

Energy Transfer LP is expected to release its quarterly report on 11/04/2020 and quarterly earnings per share for the current quarter are estimated at $0.24 with sales reaching $10.57B over the same period.The EPS is expected to grow by 1.60% this year, but quarterly earnings will post -18.00% year-over-year. Quarterly sales are estimated to shrink -21.70% in year-over-year returns.

Energy Transfer LP (ET) Top Institutional Holders

870 institutions hold shares in Energy Transfer LP (ET), with 372.19M shares held by insiders accounting for 13.81% while institutional investors hold 69.22% of the company’s shares. The shares outstanding are 2.69B, and float is at 2.31B with Short Float at 1.94%. Institutions hold 59.67% of the Float.

The top institutional shareholder in the company is Blackstone Group Inc. with over 161.58 million shares valued at $1.15 billion. The investor’s holdings represent 5.99% of the ET Shares outstanding. As of Jun 29, 2020, the second largest holder is Tortoise Capital Advisors, LLC with 68.91 million shares valued at $490.67 million to account for 2.56% of the shares outstanding. The other top investors are Invesco Ltd. which holds 62.19 million shares representing 2.31% and valued at over $442.82 million, while Goldman Sachs Group, Inc. holds 2.08% of the shares totaling 55.98 million with a market value of $398.58 million.

Energy Transfer LP (ET) Insider Activity

A total of 37 insider transactions have happened at Energy Transfer LP (ET) in the last six months, with sales accounting for 1 and purchases happening 36 times. The most recent transaction is an insider purchase by Perry James Richard, the company’s Director. SEC filings show that Perry James Richard bought 120,000 shares of the company’s common stock on Mar 27 at a price of $4.89 per share for a total of $0.59 million. Following the purchase, the insider now owns 0.13 million shares.

Energy Transfer LP disclosed in a document filed with the SEC on Mar 18 that Long Thomas E (Chief Financial Officer) bought a total of 18,000 shares of the company’s common stock. The trade occurred on Mar 18 and was made at $4.26 per share for $76590.0. Following the transaction, the insider now directly holds 0.82 million shares of the ET stock.

Still, SEC filings show that on Mar 18, Brannon Richard D (Director) acquired 35,000 shares at an average price of $3.97 for $0.14 million. The insider now directly holds 399,598 shares of Energy Transfer LP (ET).

Energy Transfer LP (ET): Who are the competitors?

The company’s main competitors (and peers) include DCP Midstream LP (DCP) that is trading -47.29% down over the past 12 months. The Williams Companies Inc. (WMB) is -11.13% down on the 1-year trading charts. Short interest in the company’s stock has risen 35.28% from the last report on Jul 14, 2020 to stand at a total of 29.04 million short shares sold with a short interest ratio of 2.05.