Barclays Increases Energy Transfer (NYSE:ET) Price Target to $15.00

Energy Transfer (NYSE:ET – Get Rating) had its target price upped by equities researchers at Barclays from $14.00 to $15.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the pipeline company’s stock. Barclays‘s target price points to a potential upside of 19.05% from the stock’s previous close.

ET has been the topic of a number of other reports. Citigroup started coverage on Energy Transfer in a research note on Thursday, December 8th. They issued a “buy” rating and a $16.00 price target on the stock. Mizuho boosted their target price on Energy Transfer from $15.00 to $17.00 and gave the company a “buy” rating in a research note on Friday, November 4th. Finally, Morgan Stanley boosted their target price on Energy Transfer from $17.00 to $18.00 and gave the company an “overweight” rating in a research note on Monday, January 9th. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $16.00.

Energy Transfer Price Performance

Shares of Energy Transfer stock opened at $12.60 on Wednesday. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.08 and a quick ratio of 0.86. The business’s 50 day simple moving average is $12.09 and its two-hundred day simple moving average is $11.64. The stock has a market capitalization of $38.91 billion, a P/E ratio of 9.40 and a beta of 1.75. Energy Transfer has a one year low of $8.75 and a one year high of $12.95.

Energy Transfer (NYSE:ET – Get Rating) last announced its quarterly earnings results on Tuesday, November 1st. The pipeline company reported $0.30 EPS for the quarter, hitting analysts’ consensus estimates of $0.30. The business had revenue of $22.94 billion for the quarter, compared to analysts’ expectations of $27.57 billion. Energy Transfer had a return on equity of 13.01% and a net margin of 5.02%. Analysts forecast that Energy Transfer will post 1.41 EPS for the current year.

Insider Activity at Energy Transfer

In other news, Director Richard D. Brannon purchased 80,000 shares of the company’s stock in a transaction that occurred on Thursday, December 15th. The shares were bought at an average cost of $11.55 per share, for a total transaction of $924,000.00. Following the completion of the transaction, the director now directly owns 580,000 shares of the company’s stock, valued at approximately $6,699,000. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Richard D. Brannon purchased 80,000 shares of the company’s stock in a transaction that occurred on Thursday, December 15th. The shares were bought at an average cost of $11.55 per share, for a total transaction of $924,000.00. Following the completion of the transaction, the director now directly owns 580,000 shares of the company’s stock, valued at approximately $6,699,000. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Bradford D. Whitehurst purchased 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 6th. The shares were purchased at an average price of $12.00 per share, for a total transaction of $60,000.00. Following the completion of the transaction, the chief financial officer now directly owns 1,048,305 shares of the company’s stock, valued at $12,579,660. The disclosure for this purchase can be found here. Insiders have bought 740,000 shares of company stock worth $9,082,900 over the last ninety days. 3.28% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Energy Transfer

Hedge funds have recently added to or reduced their stakes in the stock. Proficio Capital Partners LLC bought a new stake in Energy Transfer in the third quarter worth $220,000. Glassy Mountain Advisors Inc. bought a new stake in Energy Transfer in the fourth quarter worth $27,000. EdgeRock Capital LLC bought a new stake in Energy Transfer in the third quarter worth $29,000. MinichMacGregor Wealth Management LLC bought a new stake in Energy Transfer in the fourth quarter worth $33,000. Finally, Ronald Blue Trust Inc. bought a new stake in Energy Transfer in the second quarter worth $31,000. 37.81% of the stock is owned by institutional investors.

About Energy Transfer

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Energy Transfer LP provides natural gas pipeline transportation and transmission services. It operates through the following segments: Intrastate Transportation and Storage, Interstate Transportation and Storage, Midstream, NGL and Refined Products Transportation and Services, Crude Oil Transportation and Services, Investment in Sunoco LP, Investment in USAC, and All Other.