Energy Transfer (NYSE:ET) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Energy Transfer (NYSE:ET) had its price target lifted by stock analysts at Morgan Stanley from $20.00 to $26.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the pipeline company’s stock. Morgan Stanley’s target price would suggest a potential upside of 37.86% from the stock’s previous close.

ET has been the topic of a number of other research reports. UBS Group reaffirmed a “buy” rating on shares of Energy Transfer in a research note on Tuesday, March 4th. Citigroup reiterated a “buy” rating on shares of Energy Transfer in a report on Monday. Stifel Nicolaus raised their price target on shares of Energy Transfer from $21.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. 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 report on Thursday, December 19th. Finally, Barclays increased their price objective on shares of Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $22.09.

Energy Transfer Stock Up 1.4 %

Shares of Energy Transfer stock opened at $18.86 on Tuesday. The business has a fifty day simple moving average of $19.56 and a 200 day simple moving average of $18.31. The stock has a market cap of $64.71 billion, a PE ratio of 14.73, a price-to-earnings-growth ratio of 0.64 and a beta of 1.72. The company has a quick ratio of 0.88, a current ratio of 1.12 and a debt-to-equity ratio of 1.42. Energy Transfer has a 12 month low of $14.90 and a 12 month high of $21.45.

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

Hedge Funds Weigh In On Energy Transfer

A number of hedge funds have recently bought and sold shares of the business. Stonegate Investment Group LLC raised its position in shares of Energy Transfer by 1.4% in the fourth quarter. Stonegate Investment Group LLC now owns 34,320 shares of the pipeline company’s stock valued at $672,000 after buying an additional 482 shares in the last quarter. Private Client Services LLC increased its stake in Energy Transfer by 3.1% in the fourth 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 during the last quarter. United Advisor Group LLC lifted its stake in Energy Transfer by 3.0% during the fourth quarter. United Advisor Group LLC now owns 18,540 shares of the pipeline company’s stock worth $363,000 after purchasing an additional 534 shares during the last quarter. Wealthspire Advisors LLC increased its stake in shares of Energy Transfer by 0.4% in the 4th quarter. Wealthspire Advisors LLC now owns 130,202 shares of the pipeline company’s stock valued at $2,551,000 after purchasing an additional 535 shares during the last quarter. Finally, Cannell & Spears LLC lifted its position in shares of Energy Transfer by 0.4% during the 4th quarter. Cannell & Spears LLC now owns 135,647 shares of the pipeline company’s stock worth $2,657,000 after buying an additional 546 shares during the last quarter. 38.22% of the stock is owned by institutional investors.

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.