uploads/2017/06/ETP-fell-8-percent-last-week-1.jpg

Energy Transfer Partners Has Fallen 20% in 2017

By

Updated

Moving averages

So far, Energy Transfer Partners (ETP) has fallen 20% in 2017. In comparison, the Alerian MLP ETF (AMLP) has fallen 8% during the same period. Energy Transfer Partners, which fell 8% last week, is trading 16% below its 50-day moving average and 22% below its 200-day moving average. The two averages might act as resistance for the stock’s price in the short term.

The above chart shows Energy Transfer Partners stock along with its 50-day and 200-day moving averages. Read Energy Transfer Partners Merged with Sunoco Logistics: Now What? for an in-depth analysis of Energy Transfer Partners.

Article continues below advertisement

Analysts’ recommendations

Analysts surveyed by Reuters gave Energy Transfer Partners a median price target of $30.7 in one year. If Energy Transfer Partners attains its target price, it will mean a massive 60% price return from its current price of $19.19.

Of the surveyed analysts, nearly 86% rated Energy Transfer Partners as a “buy,” while 14% rated it as a “hold.” None of the analysts rated Energy Transfer Partners as a “sell.”

Advertisement

More From Market Realist