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

Energy Transfer (NYSE:ET) had its price target raised by equities research analysts at Barclays from $22.00 to $25.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the pipeline company’s stock. Barclays‘s target price points to a potential upside of 25.69% from the company’s previous close.

Several other analysts have also commented on ET. UBS Group raised their price objective on shares of Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Bank of America assumed coverage on shares of Energy Transfer in a report on Thursday, October 17th. They issued a “buy” rating and a $20.00 price objective for the company. Royal Bank of Canada raised their price objective on shares of Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Wells Fargo & Company raised their price objective on shares of Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Finally, The Goldman Sachs Group raised their price objective on shares of Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a report on Thursday, December 19th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $20.82.

Energy Transfer Stock Up 2.2 %

NYSE ET opened at $19.89 on Monday. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.08 and a quick ratio of 0.88. The stock has a market capitalization of $68.10 billion, a PE ratio of 14.63, a PEG ratio of 0.62 and a beta of 1.70. Energy Transfer has a 1 year low of $13.60 and a 1 year high of $20.02. The business’s 50-day moving average is $18.85 and its 200 day moving average is $17.12.

Energy Transfer (NYSE:ET) last posted its earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.32. The company had revenue of $20.77 billion for the quarter, compared to analysts’ expectations of $21.59 billion. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. Energy Transfer’s quarterly revenue was up .2% on a year-over-year basis. During the same period last year, the firm earned $0.31 earnings per share. Sell-side analysts forecast that Energy Transfer will post 1.32 earnings per share for the current year.

Hedge Funds Weigh In On Energy Transfer

Hedge funds have recently added to or reduced their stakes in the company. Empowered Funds LLC raised its holdings in Energy Transfer by 15.0% in the 3rd quarter. Empowered Funds LLC now owns 346,825 shares of the pipeline company’s stock worth $5,567,000 after acquiring an additional 45,172 shares during the last quarter. Watts Gwilliam & Co. LLC bought a new stake in Energy Transfer in the 4th quarter worth approximately $1,297,000. Kingsview Wealth Management LLC grew its position in Energy Transfer by 30.9% in the 3rd quarter. Kingsview Wealth Management LLC now owns 242,042 shares of the pipeline company’s stock worth $3,885,000 after purchasing an additional 57,184 shares during the period. FMR LLC grew its position in Energy Transfer by 44.0% in the 3rd quarter. FMR LLC now owns 33,379,297 shares of the pipeline company’s stock worth $535,738,000 after purchasing an additional 10,195,768 shares during the period. Finally, Clear Street Derivatives LLC bought a new stake in Energy Transfer in the 3rd quarter worth approximately $2,565,000. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

Energy Transfer Company Profile

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.