Energy Transfer (NYSE:ET) Stock Price Expected to Rise, Barclays Analyst Says

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

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

Energy Transfer Stock Up 3.2 %

Energy Transfer stock opened at $18.86 on Friday. The company has a fifty day simple moving average of $17.80 and a 200 day simple moving average of $16.64. The company has a current ratio of 1.08, a quick ratio of 0.88 and a debt-to-equity ratio of 1.40. Energy Transfer has a 1-year low of $13.60 and a 1-year high of $20.02. The company has a market cap of $64.58 billion, a P/E ratio of 13.87, a price-to-earnings-growth ratio of 0.63 and a beta of 1.70.

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

Hedge Funds Weigh In On Energy Transfer

Institutional investors and hedge funds have recently modified their holdings of the business. FMR LLC boosted its holdings in Energy Transfer by 44.0% in the 3rd quarter. FMR LLC now owns 33,379,297 shares of the pipeline company’s stock valued at $535,738,000 after purchasing an additional 10,195,768 shares during the period. Tortoise Capital Advisors L.L.C. boosted its stake in shares of Energy Transfer by 12.7% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 36,668,846 shares of the pipeline company’s stock valued at $594,769,000 after buying an additional 4,141,715 shares during the period. International Assets Investment Management LLC boosted its stake in shares of Energy Transfer by 1,491.0% in the third quarter. International Assets Investment Management LLC now owns 4,175,731 shares of the pipeline company’s stock valued at $67,020,000 after buying an additional 3,913,266 shares during the period. BNP Paribas Financial Markets grew its position in Energy Transfer by 36.7% during the third quarter. BNP Paribas Financial Markets now owns 11,563,478 shares of the pipeline company’s stock worth $185,594,000 after buying an additional 3,106,631 shares in the last quarter. Finally, Citigroup Inc. increased its stake in Energy Transfer by 45.9% during the 3rd quarter. Citigroup Inc. now owns 9,581,762 shares of the pipeline company’s stock worth $153,787,000 after acquiring an additional 3,013,973 shares during the period. 38.22% of the stock is currently owned by institutional investors and hedge funds.

About Energy Transfer

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.