Barclays Issues Positive Forecast for Energy Transfer (NYSE:ET) Stock Price

Energy Transfer (NYSE:ET) had its price target increased by investment analysts at Barclays from $22.00 to $25.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has an “overweight” rating on the pipeline company’s stock. Barclays‘s price target would suggest a potential upside of 28.01% from the company’s current price.

ET has been the subject of a number of other research reports. Wells Fargo & Company boosted their price target on Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. The Goldman Sachs Group boosted their price target on Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a research report on Thursday, December 19th. Bank of America initiated coverage on Energy Transfer in a research report on Thursday, October 17th. They set a “buy” rating and a $20.00 price target for the company. 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 report on Monday, December 9th. Finally, UBS Group upped their target price on Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, Energy Transfer has an average rating of “Moderate Buy” and an average price target of $20.82.

Energy Transfer Price Performance

ET stock traded up $0.11 during midday trading on Monday, hitting $19.53. 1,157,448 shares of the stock were exchanged, compared to its average volume of 12,175,911. The stock’s 50-day moving average price is $18.73 and its 200-day moving average price is $17.07. The stock has a market cap of $66.87 billion, a price-to-earnings ratio of 14.36, a PEG ratio of 0.62 and a beta of 1.70. Energy Transfer has a fifty-two week low of $13.60 and a fifty-two week high of $20.02. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.88 and a current ratio of 1.08.

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

Institutional Trading of Energy Transfer

Several large investors have recently modified their holdings of ET. Private Client Services LLC boosted its position in shares of Energy Transfer by 3.1% during the 4th quarter. Private Client Services LLC now owns 16,915 shares of the pipeline company’s stock valued at $331,000 after acquiring an additional 511 shares in the last quarter. Fortis Capital Management LLC grew its stake in shares of Energy Transfer by 2.0% in the 3rd quarter. Fortis Capital Management LLC now owns 31,956 shares of the pipeline company’s stock valued at $513,000 after purchasing an additional 634 shares during the period. Princeton Global Asset Management LLC raised its holdings in shares of 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 in the last quarter. Haverford Trust Co lifted its position in shares of Energy Transfer by 0.7% during 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 period. Finally, Veracity Capital LLC boosted its stake in Energy Transfer by 2.0% in the 3rd quarter. Veracity Capital LLC now owns 34,255 shares of the pipeline company’s stock valued at $550,000 after buying an additional 680 shares in the last quarter. 38.22% of the stock is owned by institutional investors.

About Energy Transfer

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.