Energy Transfer (NYSE:ET) Price Target Raised to $25.00

Energy Transfer (NYSE:ET) had its price target boosted by investment analysts at JPMorgan Chase & Co. from $24.00 to $25.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the pipeline company’s stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 16.80% from the stock’s current price.

Several other research analysts also recently commented on the company. Scotiabank reissued an “outperform” rating on shares of Energy Transfer in a research note on Tuesday, May 12th. Citigroup restated a “buy” rating and issued a $24.00 price target (up from $23.00) on shares of Energy Transfer in a research note on Friday, August 7th. Zacks Research lowered shares of Energy Transfer from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 11th. Barclays reiterated an “overweight” rating and set a $24.00 price objective (up from $23.00) on shares of Energy Transfer in a research report on Wednesday, August 5th. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $23.00 price objective (up from $21.00) on shares of Energy Transfer in a research note on Tuesday, July 21st. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Energy Transfer currently has an average rating of “Moderate Buy” and a consensus price target of $24.17.

Energy Transfer Price Performance

Shares of ET traded down $0.04 during midday trading on Friday, hitting $21.41. The company’s stock had a trading volume of 2,518,169 shares, compared to its average volume of 12,905,345. Energy Transfer has a one year low of $16.18 and a one year high of $21.77. The company’s fifty day simple moving average is $20.41 and its two-hundred day simple moving average is $19.62. The company has a quick ratio of 0.94, a current ratio of 1.16 and a debt-to-equity ratio of 1.45. The stock has a market capitalization of $73.70 billion, a price-to-earnings ratio of 14.55, a price-to-earnings-growth ratio of 0.73 and a beta of 0.57.

Energy Transfer (NYSE:ET) last posted its quarterly earnings results on Tuesday, August 4th. The pipeline company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.21. Energy Transfer had a return on equity of 11.55% and a net margin of 4.87%.The company had revenue of $34.33 billion during the quarter, compared to analysts’ expectations of $27.71 billion. During the same quarter in the previous year, the firm earned $0.32 EPS. Energy Transfer’s revenue was up 78.4% on a year-over-year basis. As a group, equities analysts expect that Energy Transfer will post 1.7 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Energy Transfer news, Director Kelcy Warren purchased 647,968 shares of the firm’s stock in a transaction on Wednesday, August 19th. The stock was purchased at an average cost of $21.26 per share, for a total transaction of $13,775,799.68. Following the transaction, the director owned 147,901,879 shares in the company, valued at $3,144,393,947.54. The trade was a 0.44% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director James Perry purchased 12,359 shares of the company’s stock in a transaction dated Friday, August 7th. The shares were acquired at an average cost of $20.23 per share, with a total value of $250,022.57. Following the purchase, the director directly owned 208,046 shares of the company’s stock, valued at approximately $4,208,770.58. The trade was a 6.32% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have acquired a total of 1,012,359 shares of company stock worth $21,513,543 over the last three months. Insiders own 3.28% of the company’s stock.

Institutional Investors Weigh In On Energy Transfer

Institutional investors and hedge funds have recently made changes to their positions in the stock. Arrow Investment Advisors LLC lifted its stake in shares of Energy Transfer by 4.9% in the second quarter. Arrow Investment Advisors LLC now owns 10,866 shares of the pipeline company’s stock worth $208,000 after acquiring an additional 505 shares during the period. Argent Trust Co increased its position in shares of Energy Transfer by 2.1% during the second quarter. Argent Trust Co now owns 26,035 shares of the pipeline company’s stock worth $498,000 after buying an additional 529 shares during the period. State of Wyoming raised its stake in Energy Transfer by 2.5% during the second quarter. State of Wyoming now owns 22,822 shares of the pipeline company’s stock worth $436,000 after buying an additional 548 shares during the last quarter. Keybank National Association OH raised its stake in Energy Transfer by 0.3% during the first quarter. Keybank National Association OH now owns 219,232 shares of the pipeline company’s stock worth $4,231,000 after buying an additional 556 shares during the last quarter. Finally, Cascade Financial Partners LLC raised its stake in Energy Transfer by 0.8% during the second quarter. Cascade Financial Partners LLC now owns 72,645 shares of the pipeline company’s stock worth $1,389,000 after buying an additional 560 shares during the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

Energy Transfer Company Profile

Energy Transfer (NYSE: ET) is a Dallas-based midstream energy company that develops and operates infrastructure for the transportation, storage and processing of hydrocarbons. The company’s operations focus on moving and storing natural gas, natural gas liquids (NGLs), crude oil and refined products through an integrated network of pipelines, terminals, storage facilities and processing plants. Energy Transfer provides core midstream services such as gathering, compression, fractionation, processing, and bulk transportation to support production and downstream supply chains.

Its asset base spans an extensive network across the United States, connecting producing regions, processing centers, petrochemical hubs and coastal and inland markets.