Energy Transfer (NYSE:ET) Price Target Raised to $25.00

Energy Transfer (NYSE:ETGet Free Report) had its price target lifted by equities research analysts at Stifel Nicolaus from $23.00 to $25.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the pipeline company’s stock. Stifel Nicolaus’ price objective suggests a potential upside of 25.98% from the stock’s previous close.

Several other research firms have also recently issued reports on ET. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Energy Transfer in a research report on Wednesday. Scotiabank reaffirmed an “outperform” rating on shares of Energy Transfer in a research report on Friday, January 16th. Barclays reaffirmed an “overweight” rating and issued a $22.00 price objective (down from $25.00) on shares of Energy Transfer in a research report on Monday, January 12th. Jefferies Financial Group reaffirmed a “hold” rating on shares of Energy Transfer in a research report on Wednesday. Finally, Morgan Stanley upped their price objective on Energy Transfer from $19.00 to $21.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 10th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $21.91.

Check Out Our Latest Stock Report on Energy Transfer

Energy Transfer Stock Down 2.7%

Shares of Energy Transfer stock traded down $0.55 during midday trading on Wednesday, hitting $19.84. The company had a trading volume of 10,323,070 shares, compared to its average volume of 16,539,980. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.90 and a current ratio of 1.22. The stock has a market capitalization of $68.27 billion, a P/E ratio of 16.39, a P/E/G ratio of 1.09 and a beta of 0.57. The company has a 50 day moving average of $19.02 and a 200 day moving average of $17.78. Energy Transfer has a 52-week low of $16.18 and a 52-week high of $20.67.

Energy Transfer (NYSE:ETGet Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The pipeline company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.05). The company had revenue of $27.77 billion during the quarter, compared to analysts’ expectations of $25.58 billion. Energy Transfer had a return on equity of 10.17% and a net margin of 5.11%.The business’s quarterly revenue was up 32.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.36 EPS. On average, equities analysts predict that Energy Transfer will post 1.52 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Energy Transfer

A number of institutional investors have recently bought and sold shares of the business. Bessemer Group Inc. increased its stake in Energy Transfer by 5,272.3% in the 1st quarter. Bessemer Group Inc. now owns 14,935 shares of the pipeline company’s stock worth $288,000 after buying an additional 14,657 shares in the last quarter. SteelPeak Wealth LLC purchased a new stake in Energy Transfer in the 1st quarter worth $336,000. Independent Financial Group LLC purchased a new stake in Energy Transfer in the 1st quarter worth $2,170,000. Prosperity Consulting Group LLC increased its stake in Energy Transfer by 8.7% in the 1st quarter. Prosperity Consulting Group LLC now owns 36,888 shares of the pipeline company’s stock worth $712,000 after buying an additional 2,939 shares in the last quarter. Finally, Helium Advisors LLC increased its stake in Energy Transfer by 18.0% in the 1st quarter. Helium Advisors LLC now owns 16,033 shares of the pipeline company’s stock worth $309,000 after buying an additional 2,447 shares in the last quarter. Hedge funds and other institutional investors own 38.22% of the company’s stock.

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About Energy Transfer

(Get Free Report)

Energy Transfer (NYSE: ET) is a Dallas-based midstream energy company that develops and operates infrastructure for the transportation, storage and processing of hydrocarbons. The company’s operations focus on moving and storing natural gas, natural gas liquids (NGLs), crude oil and refined products through an integrated network of pipelines, terminals, storage facilities and processing plants. Energy Transfer provides core midstream services such as gathering, compression, fractionation, processing, and bulk transportation to support production and downstream supply chains.

Its asset base spans an extensive network across the United States, connecting producing regions, processing centers, petrochemical hubs and coastal and inland markets.

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Analyst Recommendations for Energy Transfer (NYSE:ET)

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