Energy Transfer (TXSE:ET) Stock Gets Price Target Bump from Citigroup

Energy Transfer (TXSE:ET) had its price objective lifted by stock analysts at Citigroup from $24.00 to $25.00 in a report issued on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the pipeline company’s stock. Citigroup‘s target price would suggest a potential upside of 32.14% from the stock’s current price.

A number of other research firms have also recently weighed in on ET. Melius Research assumed coverage on shares of Energy Transfer in a research note on Tuesday, September 22nd. They set a “hold” rating and a $25.00 price target on the stock. Zacks Research cut shares of Energy Transfer from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 11th. Capital One Financial initiated coverage on shares of Energy Transfer in a research report on Tuesday, September 22nd. They set an “overweight” rating and a $26.00 price target for the company. Weiss Ratings raised Energy Transfer from a “buy (b)” rating to a “buy (a-)” rating in a research note on Tuesday, September 8th. Finally, Truist Financial upped their price target on Energy Transfer from $23.00 to $25.00 and gave the stock a “buy” rating in a report on Wednesday, August 12th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Energy Transfer presently has a consensus rating of “Moderate Buy” and an average price target of $24.80.

Energy Transfer Price Performance

ET stock traded down $0.27 on Friday, reaching $18.92. 10,833,449 shares of the company’s stock were exchanged, compared to its average volume of 12,130,428. The stock has a fifty day moving average of $20.65 and a 200-day moving average of $19.70. Energy Transfer has a twelve month low of $16.18 and a twelve month high of $21.84. The firm has a market cap of $65.15 billion, a PE ratio of 12.87, a P/E/G ratio of 0.73 and a beta of 0.62. The company has a quick ratio of 0.94, a current ratio of 1.16 and a debt-to-equity ratio of 1.45.

Energy Transfer (TXSE:ET) last released its quarterly earnings data on Tuesday, November 3rd. The pipeline company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.07). Energy Transfer had a return on equity of 11.55% and a net margin of 4.87%. The business had revenue of $37.10 billion during the quarter, compared to analysts’ expectations of $30.98 billion. During the same quarter in the previous year, the company posted $0.28 EPS. As a group, equities analysts predict that Energy Transfer will post 1.73 EPS for the current fiscal year.

Insider Activity at Energy Transfer

In related news, Director Kelcy Warren acquired 647,968 shares of the company’s stock in a transaction that occurred on Wednesday, August 19th. The stock was purchased at an average price 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. This trade represents a 0.44% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 3.28% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ET. Bank of America Corp DE grew its stake in Energy Transfer by 5.7% in the 1st quarter. Bank of America Corp DE now owns 30,956,358 shares of the pipeline company’s stock worth $597,458,000 after acquiring an additional 1,656,609 shares during the period. Energy Income Partners LLC grew its holdings in Energy Transfer by 1.8% in the 2nd quarter. Energy Income Partners LLC now owns 25,654,536 shares of the pipeline company’s stock valued at $490,515,000 after buying an additional 447,081 shares during the period. Miller Howard Investments Inc. NY increased its stake in shares of Energy Transfer by 6.9% during the 3rd quarter. Miller Howard Investments Inc. NY now owns 5,679,174 shares of the pipeline company’s stock valued at $112,277,000 after acquiring an additional 364,190 shares during the last quarter. Recurrent Investment Advisors LLC increased its stake in shares of Energy Transfer by 3.9% during the 1st quarter. Recurrent Investment Advisors LLC now owns 5,562,381 shares of the pipeline company’s stock valued at $107,354,000 after acquiring an additional 211,026 shares during the last quarter. Finally, BlackRock Inc. lifted its holdings in shares of Energy Transfer by 0.4% during the 2nd quarter. BlackRock Inc. now owns 4,017,925 shares of the pipeline company’s stock worth $76,823,000 after acquiring an additional 16,926 shares during the period. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

Energy Transfer Company Profile

Energy Transfer LP is a diversified energy infrastructure company headquartered in Dallas, Texas. The partnership owns and operates a broad network of pipelines, processing facilities, storage assets and terminals that support the movement of natural gas, natural gas liquids, crude oil and refined products across the United States.

The company’s operations include gathering and processing natural gas, transporting and storing natural gas and NGLs, fractionating NGLs into component products, and transporting crude oil and refined products.