Morgan Stanley slashes price target on Energy Transfer LP [ET] – find out why.


Energy Transfer LP [NYSE: ET] closed the trading session at $10.10 on 06/24/22. The day’s price range saw the stock hit a low of $9.82, while the highest price level was $10.12. The company report on June 5, 2022 that Energy Transfer Signs LNG Sale and Purchase Agreement With China Gas.

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25-Year Agreement for LNG for Supply from Energy Transfer’s Lake Charles LNG Export Facility Represents First Long-Term LNG Contract Signed by China Gas.

Energy Transfer LP (NYSE: ET) and China Gas Holdings Limited (HKEX:00384) today announced that China Gas Hongda Energy Trading Co., LTD, a subsidiary of China Gas Holdings Limited (China Gas) has entered into an LNG Sale and Purchase Agreement with Energy Transfer LNG Export, LLC (Energy Transfer LNG), a subsidiary of Dallas-based Energy Transfer LP, related to its Lake Charles LNG project.

The stocks have a year to date performance of 22.72 percent and weekly performance of -0.30 percent. The stock has been moved at 23.02 percent over the last six months. The stock has performed -9.58 percent around the most recent 30 days and changed -1.46 percent over the most recent 3-months.

If compared to the average trading volume of 22.92M shares, ET reached to a volume of 22426381 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say 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 $15.47 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 1.70. 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.

Morgan Stanley have made an estimate for Energy Transfer LP shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on January 07, 2022. While these analysts kept the previous recommendation, BofA Securities raised their target price to Buy. The new note on the price target was released on September 28, 2021, representing the official price target for Energy Transfer LP stock. Previously, the target price had yet another raise to $14, while Tudor Pickering analysts kept a Buy rating on ET stock. On July 16, 2021, analysts increased their price target for ET shares from 12 to 13.

The Average True Range (ATR) for Energy Transfer LP is set at 0.45, with the Price to Sales ratio for ET stock in the period of the last 12 months amounting to 0.43. The Price to Book ratio for the last quarter was 1.20, with the Price to Cash per share for the same quarter was set at 0.37. Price to Free Cash Flow for ET in the course of the last twelve months was 8.88 with Quick ratio for the last quarter at 1.00.

ET stock trade performance evaluation

Energy Transfer LP [ET] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.30. With this latest performance, ET shares dropped by -9.58% in over the last four-week period, additionally plugging by 23.02% over the last 6 months – not to mention a drop of -7.59% 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 38.35, with the RSI for the last a single of trading hit 36.67, and the three-weeks RSI is set at 40.74 for Energy Transfer LP [ET]. The present Moving Average for the last 50 days of trading for this stock 11.28, while it was recorded at 10.02 for the last single week of trading, and 9.99 for the last 200 days.

Energy Transfer LP [ET]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Energy Transfer LP [ET] shares currently have an operating margin of +12.85 and a Gross Margin at +14.07. Energy Transfer LP’s Net Margin is presently recorded at +8.10.

Return on Equity for this stock inclined to 21.93, with Return on Assets sitting at 5.39.

Energy Transfer LP’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.00 and a Current Ratio set at 1.10.

Earnings per share (EPS) analysis for Energy Transfer LP [ET] stock

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 -11.98%.

Energy Transfer LP [ET]: Insider Ownership positions

There are presently around $12,360 million, or 39.50% of ET stock, in the hands of institutional investors. The top three institutional holders of ET stocks are: BLACKSTONE INC. with ownership of 184,681,477, which is approximately 7.653% of the company’s market cap and around 1.00% of the total institutional ownership; GOLDMAN SACHS GROUP INC, holding 89,916,375 shares of the stock with an approximate value of $908.15 million in ET stocks shares; and ALPS ADVISORS INC, currently with $652.24 million in ET stock with ownership of nearly 10.884% of the company’s market capitalization.

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 403 institutional holders increased their position in Energy Transfer LP [NYSE:ET] by around 116,605,802 shares. Additionally, 271 investors decreased positions by around 68,501,871 shares, while 218 investors held positions by with 1,038,654,352 shares. The mentioned changes placed institutional holdings at 1,223,762,025 shares, according to the latest SEC report filing. ET stock had 79 new institutional investments in for a total of 9,386,003 shares, while 65 institutional investors sold positions of 7,454,067 shares during the same period.