Energy Transfer (NYSE:ET) PT Raised to $10.00


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Energy Transfer (NYSE:ET) had its price target upped by equities research analysts at Raymond James from $9.00 to $10.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has a “strong-buy” rating on the pipeline company’s stock. Raymond James’ price objective suggests a potential upside of 27.06% from the stock’s current price.

Several other analysts also recently issued reports on ET. Piper Sandler raised shares of Energy Transfer from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $7.00 to $9.00 in a research note on Monday, March 1st. Barclays raised Energy Transfer from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $9.00 to $10.00 in a research note on Tuesday, January 12th. UBS Group lifted their target price on Energy Transfer from $15.00 to $16.00 and gave the company a “buy” rating in a research report on Thursday, February 25th. Credit Suisse Group lifted their target price on Energy Transfer from $10.00 to $11.00 and gave the company an “outperform” rating in a research report on Monday, March 8th. Finally, Zacks Investment Research raised Energy Transfer from a “sell” rating to a “hold” rating in a research report on Tuesday, March 23rd. Four analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. Energy Transfer has a consensus rating of “Buy” and a consensus price target of $10.25.

Shares of ET opened at $7.87 on Thursday. The company’s fifty day moving average is $7.99 and its 200 day moving average is $6.73. Energy Transfer has a fifty-two week low of $4.98 and a fifty-two week high of $9.55. The stock has a market capitalization of $21.27 billion, a PE ratio of -78.70 and a beta of 2.54. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.73 and a current ratio of 1.02.

Energy Transfer (NYSE:ET) last announced its quarterly earnings results on Tuesday, February 16th. The pipeline company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.07). The business had revenue of $10.03 billion during the quarter, compared to the consensus estimate of $10.33 billion. Energy Transfer had a positive return on equity of 8.23% and a negative net margin of 0.64%. As a group, research analysts forecast that Energy Transfer will post 0.88 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Miller Howard Investments Inc. NY raised its holdings in shares of Energy Transfer by 27.9% during the first quarter. Miller Howard Investments Inc. NY now owns 4,368,708 shares of the pipeline company’s stock worth $33,552,000 after purchasing an additional 952,957 shares during the last quarter. Alhambra Investment Partners LLC acquired a new position in shares of Energy Transfer in the 1st quarter valued at about $88,000. Bogart Wealth LLC boosted its stake in shares of Energy Transfer by 33.6% in the first quarter. Bogart Wealth LLC now owns 12,004 shares of the pipeline company’s stock worth $92,000 after buying an additional 3,019 shares during the last quarter. Crescent Capital Consulting LLC acquired a new stake in Energy Transfer during the first quarter worth about $28,000. Finally, Mcdonald Partners LLC acquired a new position in Energy Transfer in the first quarter valued at approximately $394,000. Institutional investors and hedge funds own 36.42% of the company’s stock.

Energy Transfer Company Profile

Energy Transfer LP provides energy-related services. The company owns and operates approximately 9,400 miles of natural gas transportation pipelines and three natural gas storage facilities in Texas; and 12,340 miles of interstate natural gas pipelines. It also sells natural gas to electric utilities, independent power plants, local distribution companies, industrial end-users, and other marketing companies.

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