Shares of Energy Transfer LP (NYSE:ET – Get Rating) have been given an average recommendation of “Buy” by the seven brokerages that are presently covering the firm, Marketbeat Ratings reports. Six analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $16.00.
ET has been the subject of a number of research reports. Citigroup assumed coverage on Energy Transfer in a research note on Thursday, December 8th. They set a “buy” rating and a $16.00 price target for the company. Mizuho boosted their price target on shares of Energy Transfer from $15.00 to $17.00 and gave the stock a “buy” rating in a research report on Friday, November 4th. Morgan Stanley increased their price objective on shares of Energy Transfer from $17.00 to $18.00 and gave the company an “overweight” rating in a research report on Monday, January 9th. Finally, Barclays boosted their target price on shares of Energy Transfer from $14.00 to $15.00 and gave the stock an “overweight” rating in a report on Wednesday, January 18th.
Energy Transfer Price Performance
NYSE ET opened at $13.07 on Wednesday. The company has a current ratio of 1.08, a quick ratio of 0.86 and a debt-to-equity ratio of 1.37. Energy Transfer has a 12 month low of $9.02 and a 12 month high of $13.67. The stock has a market cap of $40.37 billion, a price-to-earnings ratio of 9.75 and a beta of 1.75. The company’s 50 day moving average is $12.15 and its two-hundred day moving average is $11.73.
Insider Buying and Selling
In other Energy Transfer news, Chairman Kelcy L. Warren purchased 500,000 shares of the stock in a transaction dated Tuesday, November 22nd. The stock was purchased at an average price of $12.36 per share, with a total value of $6,180,000.00. Following the transaction, the chairman now owns 54,278,477 shares of the company’s stock, valued at $670,881,975.72. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Chairman Kelcy L. Warren purchased 500,000 shares of Energy Transfer stock in a transaction dated Tuesday, November 22nd. The stock was purchased at an average cost of $12.36 per share, with a total value of $6,180,000.00. Following the transaction, the chairman now owns 54,278,477 shares in the company, valued at approximately $670,881,975.72. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Richard D. Brannon acquired 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 transaction, the director now owns 580,000 shares of the company’s stock, valued at $6,699,000. The disclosure for this purchase can be found here. Insiders acquired a total of 740,000 shares of company stock valued at $9,082,900 over the last three months. 3.28% of the stock is owned by company insiders.
Hedge Funds Weigh In On Energy Transfer
A number of large investors have recently made changes to their positions in ET. Proficio Capital Partners LLC acquired a new position in shares of Energy Transfer during the third quarter valued at about $220,000. Glassy Mountain Advisors Inc. acquired a new position in shares of Energy Transfer in the 4th quarter valued at $27,000. EdgeRock Capital LLC purchased a new position in Energy Transfer in the 3rd quarter worth $29,000. MinichMacGregor Wealth Management LLC purchased a new position in Energy Transfer in the 4th quarter worth $33,000. Finally, Ronald Blue Trust Inc. acquired a new stake in Energy Transfer during the 2nd quarter worth about $31,000. 37.81% of the stock is owned by institutional investors and hedge funds.
Energy Transfer Company Profile
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.
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