Energy Transfer LP [NYSE: ET] stock went on an upward path that rose over 1.22% on Thursday, amounting to a one-week price increase of more than 0.90%. The company report on March 20, 2024 at 4:05 PM that Energy Transfer LP Announces Full Redemption Of Series E Preferred Units.
Energy Transfer LP (NYSE: ET) today issued a notice to redeem all of its outstanding Series E Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units (the “Units”) on May 15, 2024 at a redemption price per Unit of $25.00. Holders of Units as of May 1, 2024, the record date for quarterly distributions on the Units, will separately receive accrued distributions to, but excluding, May 15, 2024, in an amount of $0.4750 per Unit.
This press release shall not constitute a notice of redemption or an offer to sell or the solicitation of an offer to buy the securities described herein.
Over the last 12 months, ET stock rose by 30.54%. The one-year Energy Transfer LP stock forecast points to a potential upside of 13.57. The average equity rating for ET stock is currently 1.39, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $52.97 billion, with 3.37 billion shares outstanding and 2.87 billion shares in the current float. Compared to the average trading volume of 12.50M shares, ET stock reached a trading volume of 12312539 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on 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 $18.20 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 1.39. 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.
Goldman have made an estimate for Energy Transfer LP shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on October 06, 2023. While these analysts kept the previous recommendation, Pickering Energy Partners raised their target price to Outperform. The new note on the price target was released on October 03, 2023, representing the official price target for Energy Transfer LP stock. Previously, the target price had yet another raise to $16, while Citigroup analysts kept a Buy rating on ET stock.
The Average True Range (ATR) for Energy Transfer LP is set at 0.21, with the Price to Sales ratio for ET stock in the period of the last 12 months amounting to 0.67. The Price to Book ratio for the last quarter was 1.75, with the Price to Cash per share for the same quarter was set at 0.07. Price to Free Cash Flow for ET in the course of the last twelve months was 8.17 with Quick ratio for the last quarter at 0.86.
ET Stock Performance Analysis:
Energy Transfer LP [ET] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.90. With this latest performance, ET shares gained by 8.26% in over the last four-week period, additionally plugging by 12.76% over the last 6 months – not to mention a rise of 30.54% 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 71.07, with the RSI for the last a single of trading hit 73.60, and the three-weeks RSI is set at 68.94 for Energy Transfer LP [ET]. The present Moving Average for the last 50 days of trading for this stock 14.70, while it was recorded at 15.58 for the last single week of trading, and 13.73 for the last 200 days.
Insight into Energy Transfer LP Fundamentals:
Energy Transfer LP’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.86 and a Current Ratio set at 1.10.
ET Stock EPS
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 0.37/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -13.50%. 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 8.20%.
Energy Transfer LP [ET] Institutonal Ownership Details
The top three institutional holders of ET stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in ET stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in ET stock with ownership which is approximately 5.8325%.
