Kayne Anderson Capital Advisors L recently announced the acquisition of new stake in Energy Transfer LP (NYSE:ET). The institutional investor has increased its shareholding in the Energy company by 3.06% to 26.14 million shares with purchase of 0.78 million shares. This fresh investment now brings its stake to 0.85% valued currently at $333.76 million. In addition, Energy Income Partners LLC raised its holdings by 1.95 million to 25.53 million shares. And Fidelity Management & Research Co has lifted its position by 2.36% or 0.58 million shares – to 25.07 million shares.
With over 13.86 million Energy Transfer LP (ET) shares trading Friday and a closing price of $12.17 on the day, the dollar volume was approximately $168.7 million. The shares have shown a positive half year performance of 9.54% and its price on 11/18/22 gained nearly 1.84%. Currently, there are 3.09B common shares owned by the public and among those 2.48B shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 19 analysts who have offered their price forecasts for ET have a consensus price objective of $16.19. The analysts have set the share’s price value over the next 12 months at a high of $21.00 and a low of $14.00. The average price target is 24.83% above its recent price level and an upside to the estimated low will see the stock gain 13.07% over that period. But an upside of 42.05% will see the stock hit the forecast high price target while median target price for the stock is $16.00.
Insiders at the company have transacted a total of 40 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 34 of these insider trades were purchases, accounting for 25,830,855 shares. Insider sales of the common stock occurred on 6 occasions, with total insider shares sold totaling 398,632 shares.
The top 3 mutual fund holders in Energy Transfer LP are Alerian MLP ETF, Invesco SteelPath MLP Income Fund, and Kayne Anderson MLP/Midstream Inve. Alerian MLP ETF owns 59.04 million shares of the company’s stock, all valued at over $753.89 million. The company bought an additional 0.2 million shares recently to bring their total holdings to about 1.91% of the shares outstanding. Invesco SteelPath MLP Income Fund bought 0.35 million shares to see its total holdings expand to 34.21 million shares valued at over $436.87 million and representing 1.11% of the shares outstanding. Kayne Anderson MLP/Midstream Inve bought 1.01 million shares to bring its total holdings to over 16.79 million shares at a value of $214.38 million. Kayne Anderson MLP/Midstream Inve now owns shares totaling to 0.54% of the shares outstanding.
Shares of Energy Transfer LP (NYSE: ET) opened at $11.94, down -$0.01 from a prior closing price of $11.95. However, the script later moved the day high at 12.19, up 1.84%. The company’s stock has a 5-day price change of -0.25% and 2.96% over the past three months. ET shares are trading 47.87% year to date (YTD), with the 12-month market performance up to 37.05% higher. It has a 12-month low price of $7.96 and touched a high of $12.95 over the same period. ET has an average intraday trading volume of 19.04 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -0.69%, 2.99%, and 9.47% respectively.
Institutional ownership of Energy Transfer LP (NYSE: ET) shares accounts for 44.00% of the company’s 3.09B shares outstanding. Mutual fund holders own 20.22%, while other institutional holders and individual stakeholders account for 22.02% and 12.01% respectively.
It has a market capitalization of $36.91B and a beta (3y monthly) value of 1.78. The stock’s trailing 12-month PE ratio is 9.03, while the earnings-per-share (ttm) stands at $1.35. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.29% over the week and 2.43% over the month.
Analysts forecast that Energy Transfer LP (ET) will achieve an EPS of $0.37 for the current quarter, $0.39 for the next quarter and $1.6 for 2023. The lowest estimate earnings-per-share for the quarter is $0.25 while analysts give the company a high EPS estimate of $0.59. Comparatively, EPS for the current quarter was $0.2 a year ago. Earnings per share for the fiscal year are expected to increase by 889.10%, and 6.78% over the next financial year. EPS should shrink at an annualized rate of -4.10% over the next five years, compared to 7.10% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 19 brokerage firm advisors rate Energy Transfer LP (ET) as a “Strong Buy” at a consensus score of 1.60. Specifically, 16 Wall Street analysts polled rate the stock as a buy, while 1 of the 19 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the ET, a number of firms have released research notes about the stock. Morgan Stanley stated their Overweight rating for the stock in a research note on January 07, 2022, with the firm’s price target at $12. BofA Securities coverage for the Energy Transfer LP (ET) stock in a research note released on September 28, 2021 offered a Buy rating with a price target of $14. Tudor Pickering was of a view on September 21, 2021 that the stock is Buy, while Wolfe Research gave the stock Outperform rating on July 16, 2021, issuing a price target of $12- $13. Citigroup on their part issued Buy rating on May 21, 2021.