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

Energy Transfer (NYSE:ET) had its price objective raised by investment analysts at Citigroup from $20.00 to $22.00 in a note issued to investors on Tuesday, Marketbeat Ratings reports. The firm presently has a “buy” rating on the pipeline company’s stock. Citigroup’s price objective suggests a potential upside of 14.91% from the company’s previous close.

Other equities analysts have also recently issued reports about the stock. Wells Fargo & Company boosted their price objective on shares of Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Royal Bank of Canada increased their price objective on shares of Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Stifel Nicolaus upped their target price on shares of Energy Transfer from $21.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Barclays upped their target price on shares of Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Finally, The Goldman Sachs Group increased 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 analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $21.55.

Energy Transfer Price Performance

Shares of ET opened at $19.15 on Tuesday. Energy Transfer has a 1-year low of $14.52 and a 1-year high of $21.45. The stock has a market cap of $65.69 billion, a PE ratio of 14.96, a P/E/G ratio of 0.64 and a beta of 1.69. The firm has a 50-day simple moving average of $19.90 and a two-hundred day simple moving average of $17.98. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.12 and a quick ratio of 0.88.

Energy Transfer (NYSE:ET) last issued its quarterly earnings results on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.06). Energy Transfer had a return on equity of 11.56% and a net margin of 5.74%. As a group, analysts forecast that Energy Transfer will post 1.46 EPS for the current year.

Institutional Trading of Energy Transfer

Several large investors have recently made changes to their positions in the business. Empowered Funds LLC boosted its holdings in Energy Transfer by 15.0% in the third quarter. Empowered Funds LLC now owns 346,825 shares of the pipeline company’s stock valued at $5,567,000 after acquiring an additional 45,172 shares during the last quarter. Watts Gwilliam & Co. LLC bought a new position in Energy Transfer in the fourth quarter valued at about $1,297,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT boosted its holdings in Energy Transfer by 4.0% in the fourth quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 7,586,598 shares of the pipeline company’s stock valued at $148,621,000 after acquiring an additional 293,088 shares during the last quarter. Forvis Mazars Wealth Advisors LLC boosted its holdings in Energy Transfer by 164.1% in the fourth quarter. Forvis Mazars Wealth Advisors LLC now owns 60,566 shares of the pipeline company’s stock valued at $1,186,000 after acquiring an additional 37,633 shares during the last quarter. Finally, Kingsview Wealth Management LLC boosted its holdings in Energy Transfer by 30.9% in the third quarter. Kingsview Wealth Management LLC now owns 242,042 shares of the pipeline company’s stock valued at $3,885,000 after acquiring an additional 57,184 shares during the last quarter. Institutional investors 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.