Mizuho Reiterates Buy Rating for Energy Transfer (NYSE:ET)

Energy Transfer (NYSE:ET)‘s stock had its “buy” rating reiterated by Mizuho in a note issued to investors on Thursday, Benzinga reports. They currently have a $19.00 price target on the pipeline company’s stock, up from their prior price target of $18.00. Mizuho’s target price would indicate a potential upside of 20.52% from the company’s previous close.

Several other equities analysts also recently weighed in on ET. Citigroup lifted their target price on Energy Transfer from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. UBS Group lowered their target price on Energy Transfer from $23.00 to $22.00 and set a “buy” rating on the stock in a research report on Thursday, February 15th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.00.

Energy Transfer Stock Performance

ET stock opened at $15.77 on Thursday. The company has a market cap of $53.12 billion, a P/E ratio of 14.46 and a beta of 1.64. Energy Transfer has a 1 year low of $12.18 and a 1 year high of $16.04. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.10 and a quick ratio of 0.88. The stock’s fifty day moving average price is $15.19 and its 200-day moving average price is $14.24.

Energy Transfer (NYSE:ET) last released its quarterly earnings results on Wednesday, February 14th. The pipeline company reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.08. The firm had revenue of $20.53 billion for the quarter, compared to the consensus estimate of $21.46 billion. Energy Transfer had a return on equity of 12.17% and a net margin of 4.85%. The company’s revenue for the quarter was up .2% on a year-over-year basis. During the same period last year, the business posted $0.34 EPS. On average, equities analysts forecast that Energy Transfer will post 1.46 earnings per share for the current year.

Institutional Investors Weigh In On Energy Transfer

Institutional investors and hedge funds have recently bought and sold shares of the business. Northwest Financial Advisors bought a new stake in Energy Transfer during the fourth quarter valued at about $25,000. Rise Advisors LLC increased its holdings in shares of Energy Transfer by 88.2% in the fourth quarter. Rise Advisors LLC now owns 1,978 shares of the pipeline company’s stock worth $27,000 after purchasing an additional 927 shares during the last quarter. Strategic Investment Solutions Inc. IL bought a new stake in shares of Energy Transfer in the first quarter worth about $25,000. IMA Wealth Inc. increased its holdings in shares of Energy Transfer by 100.0% in the second quarter. IMA Wealth Inc. now owns 2,400 shares of the pipeline company’s stock worth $30,000 after purchasing an additional 1,200 shares during the last quarter. Finally, Atlantic Edge Private Wealth Management LLC bought a new stake in shares of Energy Transfer in the fourth quarter worth about $33,000. 38.22% of the stock is owned by institutional investors.

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.