Energy Transfer (NYSE:ET) Price Target Raised to $22.00

Energy Transfer (NYSE:ET) had its price target upped by analysts at Barclays from $18.00 to $22.00 in a research note issued on Friday,Benzinga reports. The firm presently has an “overweight” rating on the pipeline company’s stock. Barclays‘s price target would suggest a potential upside of 16.65% from the company’s previous close.

Other equities research analysts also recently issued reports about the stock. Royal Bank of Canada raised their price target on shares of Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Wells Fargo & Company boosted their target price on shares of Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Wednesday. Bank of America began coverage on Energy Transfer in a report on Thursday, October 17th. They set a “buy” rating and a $20.00 price objective on the stock. The Goldman Sachs Group upped their target price on Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, UBS Group lifted their price target on Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, Energy Transfer has an average rating of “Moderate Buy” and an average target price of $20.55.

Energy Transfer Stock Performance

Shares of NYSE:ET opened at $18.86 on Friday. The company’s 50 day simple moving average is $17.80 and its 200 day simple moving average is $16.64. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.08 and a quick ratio of 0.88. Energy Transfer has a 1 year low of $13.60 and a 1 year high of $20.02. The stock has a market capitalization of $64.58 billion, a price-to-earnings ratio of 13.87, a price-to-earnings-growth ratio of 0.63 and a beta of 1.70.

Energy Transfer (NYSE:ET) last posted its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.32 EPS for the quarter, hitting analysts’ consensus estimates of $0.32. The company had revenue of $20.77 billion during the quarter, compared to analysts’ expectations of $21.59 billion. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. Energy Transfer’s revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.31 EPS. As a group, research analysts predict that Energy Transfer will post 1.32 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ET. Tortoise Capital Advisors L.L.C. increased its position in shares of Energy Transfer by 12.7% during the second quarter. Tortoise Capital Advisors L.L.C. now owns 36,668,846 shares of the pipeline company’s stock worth $594,769,000 after buying an additional 4,141,715 shares during the period. FMR LLC grew its holdings in Energy Transfer by 44.0% during the 3rd quarter. FMR LLC now owns 33,379,297 shares of the pipeline company’s stock worth $535,738,000 after acquiring an additional 10,195,768 shares during the period. Westwood Holdings Group Inc. lifted its stake in shares of Energy Transfer by 1.1% in the 2nd quarter. Westwood Holdings Group Inc. now owns 16,107,470 shares of the pipeline company’s stock valued at $261,263,000 after purchasing an additional 171,720 shares during the period. Chickasaw Capital Management LLC boosted its position in shares of Energy Transfer by 3.1% during the 3rd quarter. Chickasaw Capital Management LLC now owns 15,350,521 shares of the pipeline company’s stock valued at $246,376,000 after purchasing an additional 466,565 shares in the last quarter. Finally, Brookfield Corp ON grew its stake in Energy Transfer by 2.8% during the third quarter. Brookfield Corp ON now owns 13,139,924 shares of the pipeline company’s stock worth $210,896,000 after purchasing an additional 352,625 shares during the period. Institutional investors own 38.22% of the company’s stock.

Energy Transfer Company Profile

Energy Transfer LP provides energy-related services. The company owns and operates natural gas transportation pipeline, and natural gas storage facilities in Texas and Oklahoma; and approximately 20,090 miles of interstate natural gas pipeline. It also sells natural gas to electric utilities, independent power plants, local distribution and other marketing companies, and industrial end-users.