Energy Transfer LP [ET] stock Initiated by Citigroup analyst, price target now $16

Energy Transfer LP [NYSE: ET] loss -0.63% or -0.08 points to close at $12.69 with a heavy trading volume of 8269601 shares. The company report on April 20, 2023 at 4:15 PM that Energy Transfer LP Announces Cash Distributions on Series C, D and E Preferred Units.

Energy Transfer LP (“ET”) today announced the quarterly cash distribution of $0.4609375 per Series C Preferred Unit (NYSE: ETprC), the quarterly cash distribution of $0.4765625 per Series D Preferred Unit (NYSE: ETprD), and the quarterly cash distribution of $0.4750000 per Series E Preferred Unit (NYSE: ETprE). These cash distributions will be paid on May 15, 2023 to Series C, Series D and Series E unitholders of record as of the close of business on May 1, 2023.

Energy Transfer LP (NYSE: ET) owns and operates one of the largest and most diversified portfolios of energy assets in the United States, with approximately 120,000 miles of pipeline and associated energy infrastructure. Energy Transfer’s strategic network spans 41 states with assets in all of the major U.S. production basins. Energy Transfer is a publicly traded limited partnership with core operations that include complementary natural gas midstream, intrastate and interstate transportation and storage assets; crude oil, natural gas liquids (“NGL”) and refined product transportation and terminalling assets; and NGL fractionation. Energy Transfer also owns Lake Charles LNG Company, as well as the general partner interests, the incentive distribution rights and approximately 34% of the outstanding common units of Sunoco LP (NYSE: SUN), and the general partner interests and approximately 47% of the outstanding common units of USA Compression Partners, LP (NYSE: USAC). For more information, visit the Energy Transfer LP website at www.energytransfer.com.

It opened the trading session at $12.78, the shares rose to $12.81 and dropped to $12.63, the range by which the price of stock traded the whole day. The daily chart for ET points out that the company has recorded 6.73% gains over the past six months. However, it is still -38.69% lower than its most recent low trading price.

If we look at the average trading volume of 12.77M shares, ET reached to a volume of 8269601 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 $16.93 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 1.60. 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.

Citigroup have made an estimate for Energy Transfer LP shares, keeping their opinion on the stock as Buy, with their previous recommendation back on December 09, 2022. While these analysts kept the previous recommendation, Morgan Stanley raised their target price to Overweight. The new note on the price target was released on January 07, 2022, representing the official price target for Energy Transfer LP stock. Previously, the target price had yet another raise to $14, while BofA Securities analysts kept a Buy rating on ET stock.

The Average True Range (ATR) for Energy Transfer LP is set at 0.24, 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 1.45, with the Price to Cash per share for the same quarter was set at 0.08. Price to Free Cash Flow for ET in the course of the last twelve months was 14.85 with Quick ratio for the last quarter at 0.90.

Trading performance analysis for ET stock

Energy Transfer LP [ET] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.48. With this latest performance, ET shares gained by 8.65% in over the last four-week period, additionally plugging by 6.73% over the last 6 months – not to mention a rise of 8.93% 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 52.97, with the RSI for the last a single of trading hit 52.85, and the three-weeks RSI is set at 52.24 for Energy Transfer LP [ET]. The present Moving Average for the last 50 days of trading for this stock 12.61, while it was recorded at 12.74 for the last single week of trading, and 12.02 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 +8.90 and a Gross Margin at +10.03. Energy Transfer LP’s Net Margin is presently recorded at +5.29.

Return on Total Capital for ET is now 8.84, given the latest momentum, and Return on Invested Capital for the company is 5.82. Return on Equity for this stock inclined to 14.77, with Return on Assets sitting at 4.46. When it comes to the capital structure of this company, Energy Transfer LP [ET] has a Total Debt to Total Equity ratio set at 148.69. Additionally, ET Total Debt to Total Capital is recorded at 59.79, with Total Debt to Total Assets ending up at 46.20. Long-Term Debt to Equity for the company is recorded at 181.86, with the Long-Term Debt to Total Capital now at 59.73.

Reflecting on the efficiency of the workforce at the company, Energy Transfer LP [ET] managed to generate an average of $378,193 per employee. Receivables Turnover for the company is 10.98 with a Total Asset Turnover recorded at a value of 0.84.Energy Transfer LP’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.90 and a Current Ratio set at 1.20.

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 -4.10%.

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

There are presently around $14,821 million, or 43.90% of ET stock, in the hands of institutional investors. The top three institutional holders of ET stocks are: BLACKSTONE INC. with ownership of 160,737,127, which is approximately -9.79% of the company’s market cap and around 2.20% of the total institutional ownership; GOLDMAN SACHS GROUP INC, holding 77,158,243 shares of the stock with an approximate value of $979.14 million in ET stocks shares; and MORGAN STANLEY, currently with $968.74 million in ET stock with ownership of nearly 20.945% of the company’s market capitalization.

Positions in Energy Transfer LP stocks held by institutional investors increased at the end of Tuesday and at the time of the Tuesday reporting period, where 496 institutional holders increased their position in Energy Transfer LP [NYSE:ET] by around 78,897,905 shares. Additionally, 279 investors decreased positions by around 80,218,442 shares, while 216 investors held positions by with 1,008,824,546 shares. The mentioned changes placed institutional holdings at 1,167,940,893 shares, according to the latest SEC report filing. ET stock had 122 new institutional investments in for a total of 5,627,492 shares, while 63 institutional investors sold positions of 6,316,481 shares during the same period.