Tortoise Capital Advisors LLC has recently announced that it has increased stake in Energy Transfer LP (NYSE:ET) by 6.26%. After grabbing 68.91 million shares, the institutional investor is now in possession of 4.06 million shares of the Energy Company. The new investment brought the stake of investor firm to 2.56% having worth around $451.39 million. Moreover, Invesco Advisers, Inc. increased its share by 1.75 million to have a control over 61.79 million shares. And Neuberger Berman Investment Advis.. raised its holdings to 0.41 million shares by acquiring 25.62 million shares or 0.95% of the stake.
Energy Transfer LP (ET) concluded trading on 08/27/20 at a closing price of $6.53, with 12.07 million shares of worth about $78.8 million changed hands on the day. Weekly performance of the stock remained negative as price took a plunge of -1.80% during that period and on Thursday the price saw a gain of about 1.08%. Currently the company’s common shares owned by public are about 2.69B shares, out of which, 2.31B shares are available for trading.
A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 20 analysts are covering the ET stock and their offered price forecasts bring an average price target of $10.47. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $15.00 and could fall to a lowest price of $6.00. Analysts also issued an outlook of 1.90 for the Energy Transfer LP stock for next 12 months. The stock’s current price level is 42.31% above of average price target set by the analysts, while a rise to estimated low would result in loss of -8.83 for the stock. However, touching the estimated high of $15.00 would mean a gain of 56.47% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 71 times over the past 12 months. They bought 13,892,804 shares in 66 of the transactions. In 5 selling transactions, insiders dumped 307,877 shares.
Alerian MLP ETF, Invesco Oppenheimer SteelPath MLP, and Invesco Oppenheimer SteelPath MLP are the top 3 mutual funds which are holding stakes in Energy Transfer LP Alerian MLP ETF is currently holding 50.2 million shares of worth totaling $328.82 million. The company recently came selling 16714.0 shares which brought its stake up to 1.86% of the company’s outstanding shares. Invesco Oppenheimer SteelPath MLP bought 3.38 million shares, after which its hold over company’s outstanding shares expand to 1.12%, leaving 30.04 million shares with the mutual fund that have a worth of about $196.77 million. Invesco Oppenheimer SteelPath MLP, after selling 15.85 million shares, have now control over 0.59% of the stake in the company. It holds -0.82 million shares of worth $103.84 million.
Energy Transfer LP (NYSE: ET) started trading at $6.40, below -$0.06 from concluding price of the previous day. However, the stock finished the trading on the day at a closing price of $6.53, or with a gain of 1.08%. Stock saw a price change of -1.80% in past 5 days and over the past one month there was a price change of -2.10%. Year-to-date (YTD), ET shares are showing a performance of -49.10% which decreased to -50.87% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $3.75 but also hit the highest price of $14.07 during that period. While comparing its average daily trading volume of 24.61 million shares, we see that about 12.07 million changed hands on the day. The stock is currently trading -1.23% below its 20-day simple moving average (SMA20), while that difference is down -3.67% for SMA50 and it goes to -28.04% lower than SMA200.
Tortoise Capital Advisors LLC acquired 68.91 million shares of Energy Transfer LP having value of about $451.39 million. Data submitted at the U.S SEC by Tortoise Capital Advisors LLC revealed that the firm now holds 4.06 million shares in the company valued at close to $26504904.32, or have control over 6.26% stake in the company. Energy Transfer LP (NYSE: ET) currently have 2.69B outstanding shares and institutions hold larger chunk of about 43.20% of that. Holding of mutual funds in the company is about 21.29% while other institutional holders and individual stake holders have control over 24.34% and 11.35% of the stake respectively.
The stock has a current market capitalization of $17.60B and its 3Y-monthly beta is at 2.68. PE ratio of stock for trailing 12 months is 12.80, while it has posted earnings per share of $0.51 in the same period. It has Quick Ratio of 0.70 while making debt-to-equity ratio of 2.59. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for ET, volatility over the week remained 2.90% while standing at 3.34% over the month.
Analysts are in expectations that Energy Transfer LP (ET) stock would likely to be making an EPS of $0.24 in the current quarter, while forecast for next quarter ESPS is $0.26 and it is $1.06 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.12 which is $0.3 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.32 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 1.60% while it is estimated to increase by 92.70% in next year. EPS is likely to shrink at an annualized rate of -6.90% for next 5-years, compared to annual growth of 19.00% made by the stock over the past 5-years.
Analysts at 20 brokerage firms have issued recommendations for the Energy Transfer LP (ET)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.90. Out of those 20 Wall Street analysts, 12 recommended a “Buy” rating, while 7 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by RBC Capital Mkts on July 27, 2020 offering an Outperform rating for the stock and assigned a target price range of between $11 and $10 to it. Coverage by Wells Fargo stated Energy Transfer LP (ET) stock as an Equal weight in their note to investors on July 22, 2020, suggesting a price target of $8 for the stock. On June 09, 2020, BMO Capital Markets Upgrade their recommendations, while on April 13, 2020, Wolfe Research Downgrade their ratings for the stock with a price target of. Stock get an Equal weight rating from Barclays on March 24, 2020.