Energy Transfer LP (NYSE:ET) sank as low as $14.85 Friday before getting settled at $15.04. The -0.4 percent decrease called for market cap to move at $39.52B. The price went up as high as $14.85 before retreating. Trading activity significantly weakened as the volume at ready counter decreased to 16,140,231 shares versus 18,677,936 in average daily trading volume over the past 20 days. So far this year, the volume has averaged about 18,829,863 shares. The stock is now 28.77% above against its bear-market low of $11.68 on December 24, 2018. It has retreated -28.59% since it’s 52-week high of $19.34 reached in January. Now the market price is down -13.11% on the year and up 13.85% YTD.
ET’s 50 day simple moving average (SMA 50) price is $14.38 and its 200-day simple moving average (SMA 200) price is $16.35. The company’s stock currently has a total float of 2.27B shares. Its weekly volatility is hovering around 2.55% and felt 4.5% volatility in price over a month. On the upside, the share price will test short term resistance at around $15.15. On a downside, the stock is likely to find some support, which begins at $14.89. The failure to get near-term support could push it to $14.74.
Separately, it has been reported that multiple insider activity took place at Energy Transfer LP (ET). CFO Long Thomas E acquired 24,500 shares for $499,698 in transaction occurred on 2018/12/24. After making this transaction, the CFO owns a direct stake of 295,225 shares, worth $7,515,458, as per the last closing price. On 2018/11/19 Warren Kelcy L, CEO at ET, purchased 1,000,000 shares at an average price of $14.93 per share. The new stake is valued at $3,630,000,000.
CEO, Warren Kelcy L had invested in 2,000,000 shares for $240,000,000 through a trade on 2018/11/13. Following this activity, the insider holds 31,100,000 shares worth $3,620,000,000 as of recent close. Wall Street’s most bullish Energy Transfer LP (NYSE:ET) analysts are predicting the share price to blow past $28 per share during the next 12 months. The current median share price forecast by them is $21, suggesting that the stock could increase 39.63% in that time frame. The average price target of $21.44 calls for a nearly 42.55% increase in the stock price.
It had seen a new analyst call from Citigroup, which initiated the stock at Buy on November 29.
Moreover, it trades for 9.41 times the next 12 months of expected earnings. Compared to others, Energy Transfer LP is in a different league with regards to profitability, having net margins of 2.6%. To put some perspective around this, the industry’s average net margin is 10.59%. ET’s ROE is -99.7%, which is also considerably worse than the industry’s ROE of 8.66%. It’s also not liquid in the near term, with a current ratio of 0.7. The stock has a debt/capital of 0.
ET last reported earnings on November 07, 2018 when it released Sep-18 results that receded expectations. The company raked in $0.32 per share, -99.23% change on the same period last year. That was worse than consensus for $0.55. Revenue for the recent quarter stood at $14.51 billion, up 53% on last year and above the $13.72 billion predicted by analysts. For this quarter, Wall Street analysts forecast revenue in a range of $12.62 billion to $17 billion, which should be compared with $13.31 billion generated last year. EPS is seen in a range of $0.09 to $0.61, against the $0.43 reported a year ago.