Wolfe Research slashes price target on Energy Transfer LP [ET] – find out why.

Energy Transfer LP [NYSE: ET] gained 0.60% on the last trading session, reaching $10.00 price per share at the time. The company report on July 23, 2021 that Energy Transfer Announces Quarterly Cash Distribution and Earnings Release and Earnings Call Dates.

Energy Transfer LP (NYSE: ET) announced a quarterly cash distribution of $0.1525 per ET common unit ($0.61 on an annualized basis) for the second quarter ended June 30, 2021. The announced quarterly distribution is consistent with the distribution for the first quarter of 2021 and will be paid on August 19, 2021 to unitholders of record as of the close of business on August 6, 2021.

Second Quarter 2021 Earnings Release and Conference Call.

Energy Transfer LP represents 2.70 billion in outstanding shares, while the company has a total market value of $26.87 billion with the latest information. ET stock price has been found in the range of $9.75 to $10.03.

If compared to the average trading volume of 16.72M shares, ET reached a trading volume of 12251151 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 $13.06 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 1.80. 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.

Wolfe Research have made an estimate for Energy Transfer LP shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on July 16, 2021. While these analysts kept the previous recommendation, Citigroup raised their target price to Buy. The new note on the price target was released on May 21, 2021, representing the official price target for Energy Transfer LP stock. Previously, the target price had yet another raise from $12 to $13, while Wells Fargo kept a Overweight rating on ET stock.

The Average True Range (ATR) for Energy Transfer LP is set at 0.36, 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 1.26, with the Price to Cash per share for the same quarter was set at 0.13. Price to Free Cash Flow for ET in the course of the last twelve months was 6.65 with Quick ratio for the last quarter at 0.80.

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 3.31. With this latest performance, ET shares dropped by -7.58% in over the last four-week period, additionally plugging by 53.85% over the last 6 months – not to mention a rise of 51.06% 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 45.44, with the RSI for the last a single of trading hit 45.77, and the three-weeks RSI is set at 47.32 for Energy Transfer LP [ET]. The present Moving Average for the last 50 days of trading for this stock 10.44, while it was recorded at 9.80 for the last single week of trading, and 7.89 for the last 200 days.

Energy Transfer LP [ET]: A deeper dive into fundamental analysis

Energy Transfer LP’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.80 and a Current Ratio set at 1.00.

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

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 $10,219 million, or 38.50% of ET stock, in the hands of institutional investors. The top three institutional holders of ET stocks are: BLACKSTONE GROUP INC with ownership of 131,590,591, which is approximately -1.516% of the company’s market cap and around 14.31% of the total institutional ownership; GOLDMAN SACHS GROUP INC, holding 74,872,227 shares of the stock with an approximate value of $748.72 million in ET stocks shares; and ALPS ADVISORS INC, currently with $633.05 million in ET stock with ownership of nearly -7.157% 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 August and at the time of the August reporting period, where 319 institutional holders increased their position in Energy Transfer LP [NYSE:ET] by around 66,922,401 shares. Additionally, 324 investors decreased positions by around 75,293,429 shares, while 180 investors held positions by with 879,656,256 shares. The mentioned changes placed institutional holdings at 1,021,872,086 shares, according to the latest SEC report filing. ET stock had 72 new institutional investments in for a total of 6,675,046 shares, while 84 institutional investors sold positions of 9,096,383 shares during the same period.

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