Energy Transfer LP [ET] gain 39.32% so far this year. What now?

Energy Transfer LP [NYSE: ET] loss -2.60% or -0.23 points to close at $8.61 with a heavy trading volume of 14803414 shares. The company report on April 30, 2021 that Cushing® Asset Management and Swank Capital Announce a Constituent Change to The Cushing® MLP Market Cap Index.

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Cushing® Asset Management, LP, and Swank Capital, LLC, announce an upcoming interim change to the constituents of The Cushing® MLP Market Cap Index (the “Index”). On February 16, 2021, Index constituents Enable Midstream Partners, LP (NYSE: ENBL) and Energy Transfer LP (NYSE: ET) announced that they had entered into an Agreement and Plan of Merger that, if approved by at least a majority of ENBL common unitholders, would result in ENBL common units ceasing to be publicly traded. The parties subsequently announced that a majority of ENBL common unitholders have delivered written consents approving the Merger Agreement and, accordingly, the merger closing may occur as early as May 10, 2021. Per the Index’s methodology guide, this event will result in a constituent replacement. Accordingly, after the market closes on May 7, 2021, and effective on May 10, 2021, Global Partners LP (NYSE: GLP) will replace ENBL as a constituent of the Index at ENBL’s then-current weight.


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There will be no changes to the remaining constituents of the Index due to this event.

It opened the trading session at $8.77, the shares rose to $8.90 and dropped to $8.55, the range by which the price of stock traded the whole day. The daily chart for ET points out that the company has recorded 63.38% gains over the past six months. However, it is still -72.89% lower than its most recent low trading price.

If we look at the average trading volume of 20.41M shares, ET reached to a volume of 14803414 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]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ET shares is $11.33 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ET stock is a recommendation set at 1.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Mizuho have made an estimate for Energy Transfer LP shares, keeping their opinion on the stock as Buy, with their previous recommendation back on April 29, 2021. While these analysts kept the previous recommendation, Evercore ISI raised their target price from $10 to $14. The new note on the price target was released on April 22, 2021, representing the official price target for Energy Transfer LP stock. Previously, the target price had yet another raise from $7 to $9, while Piper Sandler kept a Overweight rating on ET stock. On January 12, 2021, analysts increased their price target for ET shares from 9 to 10.

The Average True Range (ATR) for Energy Transfer LP is set at 0.25, with the Price to Sales ratio for ET stock in the period of the last 12 months amounting to 0.61. The Price to Book ratio for the last quarter was 1.25, with the Price to Cash per share for the same quarter was set at 0.13.

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 5.13. With this latest performance, ET shares gained by 12.11% in over the last four-week period, additionally plugging by 63.38% over the last 6 months – not to mention a rise of 2.50% 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 63.87, with the RSI for the last a single of trading hit 66.45, and the three-weeks RSI is set at 61.75 for Energy Transfer LP [ET]. The present Moving Average for the last 50 days of trading for this stock 8.01, while it was recorded at 8.53 for the last single week of trading, and 6.72 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 +14.98 and a Gross Margin at +16.80. Energy Transfer LP’s Net Margin is presently recorded at -1.66.

Return on Total Capital for ET is now 6.82, given the latest momentum, and Return on Invested Capital for the company is -0.90. Return on Equity for this stock declined to -3.21, with Return on Assets sitting at -0.66. When it comes to the capital structure of this company, Energy Transfer LP [ET] has a Total Debt to Total Equity ratio set at 282.30. Additionally, ET Total Debt to Total Capital is recorded at 73.84, with Total Debt to Total Assets ending up at 54.46. Long-Term Debt to Equity for the company is recorded at 281.90, with the Long-Term Debt to Total Capital now at 73.74.

Reflecting on the efficiency of the workforce at the company, Energy Transfer LP [ET] managed to generate an average of -$56,650 per employee. Receivables Turnover for the company is 8.35 with a Total Asset Turnover recorded at a value of 0.40.Energy Transfer LP’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.80 and a Current Ratio set at 1.10.

Energy Transfer LP [ET]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, Energy Transfer LP posted -0.32/share EPS, while the average EPS was predicted by analysts to be reported at 0.33/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -197.00%. 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 -6.90%.

An analysis of insider ownership at Energy Transfer LP [ET]

There are presently around $8,876 million, or 38.90% of ET stock, in the hands of institutional investors. The top three institutional holders of ET stocks are: BLACKSTONE GROUP INC with ownership of 133,615,682, which is approximately -7.837% of the company’s market cap and around 1.50% of the total institutional ownership; ALPS ADVISORS INC, holding 68,184,863 shares of the stock with an approximate value of $587.07 million in ET stocks shares; and GOLDMAN SACHS GROUP INC, currently with $572.0 million in ET stock with ownership of nearly 13.284% of the company’s market capitalization.

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Positions in Energy Transfer LP stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 340 institutional holders increased their position in Energy Transfer LP [NYSE:ET] by around 122,514,240 shares. Additionally, 347 investors decreased positions by around 72,466,342 shares, while 159 investors held positions by with 835,949,918 shares. The mentioned changes placed institutional holdings at 1,030,930,500 shares, according to the latest SEC report filing. ET stock had 109 new institutional investments in for a total of 13,565,154 shares, while 98 institutional investors sold positions of 15,917,254 shares during the same period.

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