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

Energy Transfer (NYSE:ET) had its price target hoisted by JPMorgan Chase & Co. from $24.00 to $25.00 in a research report sent to investors on Friday,Benzinga reports. The brokerage currently has an overweight rating on the pipeline company’s stock.

Other equities analysts also recently issued reports about the stock. Wall Street Zen raised shares of Energy Transfer from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Royal Bank Of Canada restated an “outperform” rating and set a $23.00 price target (up from $21.00) on shares of Energy Transfer in a research report on Tuesday, July 21st. UBS Group restated a “buy” rating on shares of Energy Transfer in a report on Tuesday, May 12th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Energy Transfer in a research report on Wednesday, August 5th. Finally, Zacks Research cut shares of Energy Transfer from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Energy Transfer currently has an average rating of “Moderate Buy” and a consensus target price of $24.17.

Energy Transfer Stock Performance

Shares of Energy Transfer stock opened at $21.52 on Friday. The business’s fifty day simple moving average is $20.46 and its 200 day simple moving average is $19.64. The firm has a market capitalization of $74.10 billion, a P/E ratio of 14.64, a price-to-earnings-growth ratio of 0.73 and a beta of 0.57. Energy Transfer has a 12 month low of $16.18 and a 12 month high of $21.77. The company has a current ratio of 1.16, a quick ratio of 0.94 and a debt-to-equity ratio of 1.45.

Energy Transfer (NYSE:ET) last announced its quarterly earnings data on Tuesday, August 4th. The pipeline company reported $0.59 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $34.33 billion during the quarter, compared to the consensus estimate of $27.71 billion. During the same quarter in the prior year, the company earned $0.32 EPS. The business’s revenue for the quarter was up 78.4% on a year-over-year basis. As a group, analysts anticipate that Energy Transfer will post 1.7 EPS for the current year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 19th. Stockholders of record on Friday, August 7th were given a dividend of $0.34 per share. The ex-dividend date of this dividend was Friday, August 7th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 6.3%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.34. Energy Transfer’s payout ratio is currently 92.52%.

Insider Buying and Selling at Energy Transfer

In other Energy Transfer news, Director James Perry bought 12,359 shares of Energy Transfer stock in a transaction dated Friday, August 7th. The stock was purchased at an average price of $20.23 per share, for a total transaction of $250,022.57. Following the completion of the purchase, the director directly owned 208,046 shares of the company’s stock, valued at approximately $4,208,770.58. This trade represents a 6.32% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Kelcy Warren purchased 647,968 shares of Energy Transfer stock in a transaction dated Wednesday, August 19th. The stock was bought at an average price of $21.26 per share, with a total value of $13,775,799.68. Following the completion of the transaction, the director owned 147,901,879 shares of the company’s stock, valued at $3,144,393,947.54. This represents a 0.44% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought a total of 1,012,359 shares of company stock valued at $21,513,543 in the last quarter. 3.28% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Energy Transfer

A number of institutional investors and hedge funds have recently bought and sold shares of ET. Osbon Capital Management LLC bought a new position in shares of Energy Transfer in the 2nd quarter worth $25,000. Basepoint Wealth LLC purchased a new stake in shares of Energy Transfer during the 4th quarter valued at $25,000. Gables Capital Management Inc. lifted its holdings in shares of Energy Transfer by 60.0% during the 4th quarter. Gables Capital Management Inc. now owns 1,600 shares of the pipeline company’s stock worth $26,000 after acquiring an additional 600 shares during the last quarter. Cassaday & Co Wealth Management LLC bought a new stake in shares of Energy Transfer during the 1st quarter worth $35,000. Finally, Sarver Vrooman Wealth Advisors bought a new stake in shares of Energy Transfer during the 4th quarter worth $32,000. 38.22% of the stock is owned by hedge funds and other institutional investors.

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.