Barclays Forecasts Strong Price Appreciation for Energy Transfer (NYSE:ET) Stock

Energy Transfer (NYSE:ET) had its price objective boosted by analysts at Barclays from $18.00 to $22.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the pipeline company’s stock. Barclays‘s price target points to a potential upside of 20.42% from the stock’s current price.

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

Energy Transfer Trading Up 0.4 %

Shares of Energy Transfer stock opened at $18.27 on Friday. Energy Transfer has a 1 year low of $13.60 and a 1 year high of $20.02. The company has a current ratio of 1.08, a quick ratio of 0.88 and a debt-to-equity ratio of 1.40. The firm has a market capitalization of $62.55 billion, a PE ratio of 13.43, a price-to-earnings-growth ratio of 0.63 and a beta of 1.70. The firm’s 50 day moving average is $17.75 and its 200 day moving average is $16.61.

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

Hedge Funds Weigh In On Energy Transfer

A number of large investors have recently bought and sold shares of ET. FFG Partners LLC increased its position in shares of Energy Transfer by 3.3% during the third quarter. FFG Partners LLC now owns 1,636,626 shares of the pipeline company’s stock worth $26,268,000 after purchasing an additional 52,302 shares in the last quarter. Fidelity D & D Bancorp Inc. purchased a new position in Energy Transfer in the third quarter valued at $1,207,000. Peapack Gladstone Financial Corp increased its position in shares of Energy Transfer by 6.8% in the third quarter. Peapack Gladstone Financial Corp now owns 15,675 shares of the pipeline company’s stock valued at $251,000 after buying an additional 1,000 shares in the last quarter. Synovus Financial Corp lifted its holdings in Energy Transfer by 69.8% during the third quarter. Synovus Financial Corp now owns 84,530 shares of the pipeline company’s stock valued at $1,357,000 after purchasing an additional 34,749 shares in the last quarter. Finally, Tidal Investments LLC lifted its position in shares of Energy Transfer by 1.2% in the third quarter. Tidal Investments LLC now owns 101,738 shares of the pipeline company’s stock valued at $1,633,000 after acquiring an additional 1,248 shares in the last quarter. Hedge funds and other institutional investors own 38.22% of the company’s stock.

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.