Energy Transfer (NYSE:ET) Price Target Raised to $22.00

Energy Transfer (NYSE:ET) had its price objective hoisted by Barclays from $18.00 to $22.00 in a research report report published on Friday morning,Benzinga reports. They currently have an overweight rating on the pipeline company’s stock.

A number of other equities analysts also recently issued reports on the company. Wells Fargo & Company increased their target price on Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. UBS Group increased their price objective on Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Royal Bank of Canada boosted their target price on shares of Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. The Goldman Sachs Group increased their price target on shares of Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a report on Thursday. Finally, Bank of America assumed coverage on shares of Energy Transfer in a report on Thursday, October 17th. They set a “buy” rating and a $20.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $20.55.

Energy Transfer Stock Performance

NYSE:ET opened at $18.86 on Friday. 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 firm has a market cap of $64.58 billion, a price-to-earnings ratio of 13.87, a price-to-earnings-growth ratio of 0.63 and a beta of 1.70. The firm’s fifty day moving average price is $17.80 and its 200 day moving average price is $16.64. Energy Transfer has a 1-year low of $13.60 and a 1-year high of $20.02.

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

Energy Transfer Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Friday, November 8th were paid a dividend of $0.3225 per share. This represents a $1.29 dividend on an annualized basis and a dividend yield of 6.84%. The ex-dividend date was Friday, November 8th. Energy Transfer’s payout ratio is currently 94.85%.

Hedge Funds Weigh In On Energy Transfer

Institutional investors have recently modified their holdings of the company. Fortis Capital Management LLC grew its stake in Energy Transfer by 2.0% in the 3rd quarter. Fortis Capital Management LLC now owns 31,956 shares of the pipeline company’s stock worth $513,000 after acquiring an additional 634 shares during the period. Princeton Global Asset Management LLC boosted its stake in Energy Transfer by 65.0% in the 3rd quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock worth $26,000 after buying an additional 650 shares during the last quarter. Haverford Trust Co boosted its stake in Energy Transfer by 0.7% in the 3rd quarter. Haverford Trust Co now owns 102,176 shares of the pipeline company’s stock worth $1,640,000 after buying an additional 675 shares during the last quarter. Veracity Capital LLC increased its stake in shares of Energy Transfer by 2.0% during the 3rd quarter. Veracity Capital LLC now owns 34,255 shares of the pipeline company’s stock valued at $550,000 after acquiring an additional 680 shares during the last quarter. Finally, Rockwood Wealth Management LLC increased its stake in shares of Energy Transfer by 0.5% during the 2nd quarter. Rockwood Wealth Management LLC now owns 128,122 shares of the pipeline company’s stock valued at $2,078,000 after acquiring an additional 700 shares during the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

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.