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

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

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

Energy Transfer Trading Up 0.6 %

NYSE ET traded up $0.11 on Monday, reaching $19.53. The company had a trading volume of 1,157,448 shares, compared to its average volume of 12,175,911. 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 52 week low of $13.60 and a 52 week high of $20.02. The stock’s 50 day moving average is $18.73 and its 200-day moving average is $17.07. The company has a quick ratio of 0.88, a current ratio of 1.08 and a debt-to-equity ratio of 1.40.

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

Institutional Trading of Energy Transfer

A number of hedge funds and other institutional investors have recently bought and sold shares of ET. Princeton Global Asset Management LLC lifted its holdings 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 period. Assetmark Inc. boosted its position in Energy Transfer by 2,138.5% during the 3rd quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock valued at $28,000 after acquiring an additional 1,668 shares in the last quarter. GAMMA Investing LLC purchased a new position in shares of Energy Transfer in the 4th quarter valued at approximately $29,000. HWG Holdings LP bought a new position in Energy Transfer in the 2nd quarter worth about $33,000. Finally, Sugarloaf Wealth Management LLC lifted its holdings in shares of Energy Transfer by 43.6% during the third quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company’s stock valued at $40,000 after purchasing an additional 750 shares in the last quarter. Institutional investors own 38.22% of the company’s stock.

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.