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Energy Transfer LP (NYSE: ET) Still Pointing Downwards

The trading price of Energy Transfer LP (NYSE:ET) floating lower at last check on Wednesday, June 22, closing at $10.10, -2.65% lower than its previous close.

Traders who pay close attention to intraday price movement should know that it has been fluctuating between $10.15 and $10.475. The company’s P/E ratio in the trailing 12-month period was 9.79, while its 5Y monthly beta was 2.06. In examining the 52-week price action we see that the stock hit a 52-week high of $12.48 and a 52-week low of $7.96. Over the past month, the stock has lost -6.15% in value.

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Energy Transfer LP, whose market valuation is $33.01 billion at the time of this writing, is expected to release its quarterly earnings report Feb 15, 2022 – Feb 21, 2022. The dividend yield on the company stock is 7.71%, while its Forward Dividend ratio is 0.80. Investors’ optimism about the company’s current quarter earnings report is understandable. Analysts have predicted the quarterly earnings per share to grow by $0.33 per share this quarter, however they have predicted annual earnings per share of $1.38 for 2022 and $1.52 for 2023. It means analysts are expecting annual earnings per share growth of -27.00% this year and 10.10% next year.

Analysts have forecast the company to bring in revenue of $20.19 billion for the current quarter, with the likely lows of $17.08 billion and highs of $23.57 billion. From the analysts’ viewpoint, the consensus estimate for the company’s annual revenue in 2022 is $79.14 billion. The company’s revenue is forecast to grow by 17.40% over what it did in 2022.

A company’s earnings reviews provide a brief indication of a stock’s direction in the short term, where in the case of Energy Transfer LP 2 upward and no downward comments were posted in the last 7 days. On the technical side, indicators suggest ET has a Hold on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 50% Buy, while an average of long term indicators suggests that the stock is currently Hold.

Here is the average analyst rating on the stock as represented by 1.00 to 5.00, with the extremes of 1.00 and 5.00 suggesting the stock should be considered as either strong buy or strong sell respectively. The number of analysts that have assigned ET a recommendation rating is 20. Out of them, 1 rate it a Hold, while 17 recommend Buy, whereas 2 assign an Overweight rating. 0 analyst(s) have tagged Energy Transfer LP (ET) as Underweight, while 0 advise Sell. Analysts have rated the stock Buy, likely urging investors to take advantage of the opportunity to add to their holdings of the company’s shares.

A quick review shows that ET’s price is currently -11.21% off the SMA20 and -10.99% off the SMA50. The RSI metric on the 14-day chart is currently showing 35.89, and weekly volatility stands at 4.40%. When measured over the past 30 days, the indicator reaches 3.21%. Energy Transfer LP (NYSE:ET)’s beta value is currently sitting at 1.83, while the Average True Range indicator is currently displaying 0.44. With analysts defining $14.00-$20.00 as the low and high price targets, we arrive at a consensus price target of $15.44 for the trailing 12-month period. The current price is about -38.61% off the estimated low and -98.02% off the forecast high, based on this estimate. Investors will be thrilled if ET’s share price rises to $15.00, which is the median consensus price. At that level, ET’s share price would be -48.51% below current price.

To see how Energy Transfer LP stock has been performing today in comparison to its peers in the industry, here are the numbers: ET stock’s performance was -2.65% at last check in today’s session, and -5.72% in the past year, while DCP Midstream LP (DCP) has been trading -5.18% in recent session and positioned 1.66% higher than it was a year ago. Another comparable company Enterprise Products Partners L.P. (EPD) saw its stock trading -1.23% lower in today’s session but was up 1.66% in a year. Furthermore, The Williams Companies Inc. (WMB) showed a decrease of -0.97% today while its price kept inclining at 15.63% over the past year. Energy Transfer LP has a P/E ratio of 9.79, compared to DCP Midstream LP’s 17.84 and Enterprise Products Partners L.P.’s 11.83. Also during today’s trading, the S&P 500 Index has surged 0.47%, while the Dow Jones Industrial also saw a positive session, up 0.23% today.

An evaluation of the daily trading volume of Energy Transfer LP (NYSE:ET) indicates that the 3-month average is 22.55 million.

Currently, records show that 3.08 billion of the company’s shares remain outstanding. The insiders hold 1.20% of outstanding shares, whereas institutions hold 39.50%. However, since the stock’s price has seen 26.12% year-to-date, investors’ interest is likely to be reignited due to its potential to move even higher.

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