Energy Transfer (NYSE:ET) Coverage Initiated by Analysts at Melius Research

Melius Research assumed coverage on shares of Energy Transfer (NYSE:ET) in a report issued on Tuesday, Briefing.com reports. The firm set a “hold” rating and a $25.00 price target on the pipeline company’s stock. Melius Research’s price objective suggests a potential upside of 19.62% from the company’s current price.

A number of other equities analysts have also weighed in on the company. Stifel Nicolaus assumed coverage on Energy Transfer in a research note on Thursday, September 10th. They issued a “buy” rating and a $25.00 price objective for the company. JPMorgan Chase & Co. boosted their price target on Energy Transfer from $24.00 to $25.00 and gave the stock an “overweight” rating in a report on Friday, September 4th. Morgan Stanley upped their price target on Energy Transfer from $23.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 18th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Energy Transfer in a report on Wednesday, August 5th. Finally, Citigroup reissued a “buy” rating and issued a $24.00 target price (up from $23.00) on shares of Energy Transfer in a report on Friday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Energy Transfer currently has a consensus rating of “Moderate Buy” and a consensus price target of $24.23.

Energy Transfer Stock Performance

Shares of NYSE ET opened at $20.90 on Tuesday. The stock has a market cap of $71.96 billion, a PE ratio of 14.22, a price-to-earnings-growth ratio of 0.70 and a beta of 0.57. Energy Transfer has a 1 year low of $16.18 and a 1 year high of $21.84. The firm has a fifty day moving average price of $20.87 and a 200-day moving average price of $19.84. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.16 and a quick ratio of 0.94.

Energy Transfer (NYSE:ET) last issued its earnings results on Tuesday, August 4th. The pipeline company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.21. Energy Transfer had a net margin of 4.87% and a return on equity of 11.55%. The company had revenue of $34.33 billion during the quarter, compared to the consensus estimate of $27.71 billion. During the same quarter in the prior year, the firm posted $0.32 EPS. Energy Transfer’s quarterly revenue was up 78.4% compared to the same quarter last year. Equities analysts anticipate that Energy Transfer will post 1.74 earnings per share for the current fiscal year.

Insider Transactions at Energy Transfer

In other news, Director James Perry purchased 12,359 shares of the company’s stock in a transaction that occurred on Friday, August 7th. The stock was bought at an average cost of $20.23 per share, with a total value of $250,022.57. Following the completion of the purchase, the director owned 208,046 shares in the company, valued at approximately $4,208,770.58. This represents a 6.32% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Kelcy Warren purchased 647,968 shares of the business’s stock in a transaction on Wednesday, August 19th. The shares were purchased at an average price of $21.26 per share, with a total value of $13,775,799.68. Following the acquisition, the director directly owned 147,901,879 shares in the company, valued at $3,144,393,947.54. This represents a 0.44% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders purchased 1,012,359 shares of company stock worth $21,513,543 over the last quarter. 3.28% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of ET. Bullseye Investment Management LLC purchased a new stake in Energy Transfer during the second quarter valued at $42,000. Talon Private Wealth LLC grew its stake in shares of Energy Transfer by 1.7% in the 2nd quarter. Talon Private Wealth LLC now owns 53,343 shares of the pipeline company’s stock worth $1,020,000 after buying an additional 888 shares in the last quarter. Sequoia Financial Advisors LLC grew its stake in shares of Energy Transfer by 6.1% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 78,368 shares of the pipeline company’s stock worth $1,498,000 after buying an additional 4,491 shares in the last quarter. Tidal Investments LLC increased its holdings in shares of Energy Transfer by 56.7% in the 2nd quarter. Tidal Investments LLC now owns 1,611,509 shares of the pipeline company’s stock worth $30,812,000 after buying an additional 583,196 shares during the last quarter. Finally, M.E. Allison & CO. Inc. increased its holdings in shares of Energy Transfer by 3.4% in the 2nd quarter. M.E. Allison & CO. Inc. now owns 25,535 shares of the pipeline company’s stock worth $488,000 after buying an additional 843 shares during the last quarter. 38.22% of the stock is owned by hedge funds and other institutional investors.

Energy Transfer Company Profile

Energy Transfer LP (NYSE: ET) is a diversified midstream energy partnership that owns and operates infrastructure used to transport, store, process and market energy commodities. Its assets support the movement of natural gas, crude oil, natural gas liquids (NGLs), refined products and other hydrocarbon-based materials.

The company’s operations include natural gas gathering and processing, interstate and intrastate pipeline transportation, NGL fractionation and storage, crude oil and refined products transportation, and terminal services.