Brokerages Set Energy Transfer LP (NYSE:ET) Price Target at $22.67

Shares of Energy Transfer LP (NYSE:ET) have been given an average rating of “Moderate Buy” by the fourteen ratings firms that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a hold rating and thirteen have issued a buy rating on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $22.6667.

Several equities analysts recently weighed in on the stock. Wells Fargo & Company reaffirmed an “overweight” rating and set a $23.00 price objective (up previously from $21.00) on shares of Energy Transfer in a research report on Tuesday, August 12th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Energy Transfer in a research report on Friday. Scotiabank assumed coverage on shares of Energy Transfer in a research report on Tuesday, September 2nd. They set a “sector outperform” rating and a $23.00 price objective on the stock. Morgan Stanley cut their price objective on shares of Energy Transfer from $24.00 to $23.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 26th. Finally, UBS Group reaffirmed a “buy” rating and set a $22.00 price objective on shares of Energy Transfer in a research report on Wednesday, October 15th.

Insider Activity at Energy Transfer

In other news, Director Kelcy L. Warren purchased 1,350,000 shares of the company’s stock in a transaction dated Wednesday, August 20th. The shares were bought at an average price of $17.36 per share, with a total value of $23,436,000.00. Following the completion of the transaction, the director directly owned 69,178,477 shares in the company, valued at $1,200,938,360.72. This trade represents a 1.99% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.28% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Energy Transfer

Institutional investors have recently modified their holdings of the company. Ryan Investment Management Inc. bought a new position in shares of Energy Transfer in the second quarter valued at approximately $31,000. Vision Financial Markets LLC bought a new position in shares of Energy Transfer in the first quarter valued at approximately $33,000. CNB Bank raised its position in shares of Energy Transfer by 111.1% in the second quarter. CNB Bank now owns 1,900 shares of the pipeline company’s stock valued at $34,000 after purchasing an additional 1,000 shares during the period. HWG Holdings LP bought a new position in shares of Energy Transfer in the first quarter valued at approximately $38,000. Finally, Stone House Investment Management LLC bought a new position in shares of Energy Transfer in the first quarter valued at approximately $38,000. Institutional investors own 38.22% of the company’s stock.

Energy Transfer Price Performance

NYSE ET opened at $16.74 on Monday. The company has a 50 day simple moving average of $17.18 and a 200-day simple moving average of $17.41. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.15 and a quick ratio of 0.92. The firm has a market capitalization of $57.45 billion, a price-to-earnings ratio of 12.97, a price-to-earnings-growth ratio of 1.00 and a beta of 0.78. Energy Transfer has a 52-week low of $14.60 and a 52-week high of $21.45.

Energy Transfer (NYSE:ET) last posted its quarterly earnings results on Wednesday, August 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.32. The business had revenue of $19.24 billion during the quarter, compared to analyst estimates of $24.07 billion. Energy Transfer had a net margin of 5.80% and a return on equity of 11.08%. The firm’s revenue was down 7.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.35 earnings per share. Equities research analysts predict that Energy Transfer will post 1.46 earnings per share for the current fiscal year.

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.