Energy Transfer LP [NYSE: ET] gained 3.49% or 0.19 points to close at $5.63 with a heavy trading volume of 26563773 shares. The company report on November 10, 2020 that Sunoco LP Announces Removal of Tender Cap for its Previously Announced Cash Tender Offer for its 4.875% Senior Notes due 2023.
Sunoco LP (NYSE: SUN) (“Sunoco”) announced that it has removed the tender cap of $500.0 million for its previously announced cash tender offer (the “tender offer”) of its outstanding 4.875% Senior Notes due 2023 (CUSIP Nos. 86765LAH0, U86759AE4 and 86765LAJ6) (the “2023 notes”) and will instead offer to purchase any and all of its outstanding 2023 notes. The tender offer is being made pursuant to Sunoco’s Offer to Purchase dated November 9, 2020 (the “Offer to Purchase”). Sunoco intends to fund the tender offer with the net proceeds from its previously announced senior notes offering, which was upsized from $500 million to $800 million, and borrowings under its revolving credit facility. The maximum amount of the 2023 notes subject to the redemption described in the Offer to Purchase, if it occurs, will correspondingly increase.
Except as described in this press release, all other terms of the tender offer as described in the Offer to Purchase remain unchanged, including the Early Tender Deadline, Early Tender Payment, Tender Offer Consideration, Total Consideration, Withdrawal Time and Expiration Date. Capitalized terms used in this press release and not defined herein have the meanings given to them in the Offer to Purchase.
It opened the trading session at $5.42, the shares rose to $5.68 and dropped to $5.37, the range by which the price of stock traded the whole day. The daily chart for ET points out that the company has recorded -32.09% loss over the past six months. However, it is still -50.13% lower than its most recent low trading price.
If we look at the average trading volume of 20.64M shares, ET reached to a volume of 26563773 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Energy Transfer LP [ET]:
RBC Capital Mkts have made an estimate for Energy Transfer LP shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on July 27, 2020. The new note on the price target was released on July 22, 2020, representing the official price target for Energy Transfer LP stock. Previously, the target price had yet another raise to $13, while BMO Capital Markets analysts kept a Outperform rating on ET stock.
The Average True Range (ATR) for Energy Transfer LP is set at 0.28, with the Price to Sales ratio for ET stock in the period of the last 12 months amounting to 0.35. The Price to Book ratio for the last quarter was 0.83, with the Price to Cash per share for the same quarter was set at 0.10. Price to Free Cash Flow for ET in the course of the last twelve months was 9.47 with Quick ratio for the last quarter at 0.70.
Trading performance analysis for ET stock
Energy Transfer LP [ET] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.49. With this latest performance, ET shares dropped by -4.25% in over the last four-week period, additionally sinking by -32.09% over the last 6 months – not to mention a drop of -50.31% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ET stock in for the last two-week period is set at 51.25, with the RSI for the last a single of trading hit 55.66, and the three-weeks RSI is set at 49.38 for Energy Transfer LP [ET]. The present Moving Average for the last 50 days of trading for this stock 5.70, while it was recorded at 5.42 for the last single week of trading, and 7.12 for the last 200 days.
Energy Transfer LP [ET]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and Energy Transfer LP [ET] shares currently have an operating margin of +13.67 and a Gross Margin at +14.95. Energy Transfer LP’s Net Margin is presently recorded at +6.62.
Return on Total Capital for ET is now 9.04, given the latest momentum, and Return on Invested Capital for the company is 5.21. Return on Equity for this stock inclined to 16.93, with Return on Assets sitting at 3.80. When it comes to the capital structure of this company, Energy Transfer LP [ET] has a Total Debt to Total Equity ratio set at 238.28. Additionally, ET Total Debt to Total Capital is recorded at 70.44, with Total Debt to Total Assets ending up at 52.12. Long-Term Debt to Equity for the company is recorded at 237.88, with the Long-Term Debt to Total Capital now at 70.32.
Reflecting on the efficiency of the workforce at the company, Energy Transfer LP [ET] managed to generate an average of $280,050 per employee. Receivables Turnover for the company is 11.37 with a Total Asset Turnover recorded at a value of 0.57.Energy Transfer LP’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.70 and a Current Ratio set at 1.00.
Energy Transfer LP [ET]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Energy Transfer LP posted 0.38/share EPS, while the average EPS was predicted by analysts to be reported at 0.36/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 5.60%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ET. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Energy Transfer LP go to -6.44%.
An analysis of insider ownership at Energy Transfer LP [ET]
There are presently around $6,250 million, or 43.20% of ET stock, in the hands of institutional investors. The top three institutional holders of ET stocks are: BLACKSTONE GROUP INC with ownership of 144,976,830, which is approximately -10.276% of the company’s market cap and around 14.19% of the total institutional ownership; HARVEST FUND ADVISORS LLC, holding 102,422,972 shares of the stock with an approximate value of $576.64 million in ET stocks shares; and INVESCO LTD., currently with $369.79 million in ET stock with ownership of nearly 5.61% of the company’s market capitalization.
Positions in Energy Transfer LP stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 289 institutional holders increased their position in Energy Transfer LP [NYSE:ET] by around 56,420,890 shares. Additionally, 366 investors decreased positions by around 166,242,130 shares, while 179 investors held positions by with 887,422,943 shares. The mentioned changes placed institutional holdings at 1,110,085,963 shares, according to the latest SEC report filing. ET stock had 58 new institutional investments in for a total of 7,341,724 shares, while 98 institutional investors sold positions of 18,548,963 shares during the same period.