Energy Transfer (NYSE:ET) Price Target Increased to $23.00 by Analysts at UBS Group

Energy Transfer (NYSE:ET) had its price objective hoisted by equities research analysts at UBS Group from $22.00 to $23.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the pipeline company’s stock. UBS Group’s price objective suggests a potential upside of 43.30% from the stock’s previous close.

Several other research firms also recently weighed in on ET. Morgan Stanley upped their price objective on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Monday, June 10th. JPMorgan Chase & Co. raised their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a research report on Thursday, June 20th. Finally, Mizuho boosted their price objective on Energy Transfer from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, June 18th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $19.14.

Energy Transfer Stock Up 0.2 %

Shares of ET traded up $0.03 during trading hours on Wednesday, hitting $16.05. The stock had a trading volume of 1,068,821 shares, compared to its average volume of 13,309,360. Energy Transfer has a 1-year low of $12.90 and a 1-year high of $16.50. The firm has a market capitalization of $54.09 billion, a P/E ratio of 14.74, a price-to-earnings-growth ratio of 0.46 and a beta of 1.66. The firm has a 50 day simple moving average of $16.06 and a 200-day simple moving average of $15.81. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.14 and a quick ratio of 0.92.

Energy Transfer (NYSE:ET) last announced its quarterly earnings data on Wednesday, August 7th. The pipeline company reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). Energy Transfer had a net margin of 5.19% and a return on equity of 12.74%. The firm had revenue of $20.73 billion during the quarter, compared to analyst estimates of $22.01 billion. During the same period last year, the business posted $0.25 EPS. The company’s revenue was up 13.1% on a year-over-year basis. Sell-side analysts predict that Energy Transfer will post 1.4 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Gregory G. Mcilwain purchased 20,000 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were bought at an average cost of $15.68 per share, with a total value of $313,600.00. Following the acquisition, the executive vice president now owns 591,211 shares of the company’s stock, valued at $9,270,188.48. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Kelcy L. Warren bought 3,000,000 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was acquired at an average cost of $15.68 per share, with a total value of $47,040,000.00. Following the completion of the transaction, the director now directly owns 123,385,650 shares of the company’s stock, valued at approximately $1,934,686,992. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Gregory G. Mcilwain purchased 20,000 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were purchased at an average cost of $15.68 per share, for a total transaction of $313,600.00. Following the transaction, the executive vice president now directly owns 591,211 shares in the company, valued at $9,270,188.48. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 3,040,000 shares of company stock worth $47,667,200. 3.28% of the stock is owned by company insiders.

Institutional Investors Weigh In On Energy Transfer

Large investors have recently added to or reduced their stakes in the company. LRI Investments LLC purchased a new position in Energy Transfer in the 1st quarter valued at approximately $29,000. HWG Holdings LP purchased a new position in shares of Energy Transfer in the second quarter valued at $33,000. Ables Iannone Moore & Associates Inc. bought a new stake in shares of Energy Transfer during the 4th quarter valued at $34,000. Hudson Edge Investment Partners Inc. purchased a new stake in Energy Transfer during the 2nd quarter worth about $42,000. Finally, EdgeRock Capital LLC bought a new position in Energy Transfer in the 2nd quarter worth about $42,000. Hedge funds and other 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.