Energy Transfer (NYSE:ET) Earns “Buy” Rating from Stifel Nicolaus

Energy Transfer (NYSE:ET)‘s stock had its “buy” rating reaffirmed by stock analysts at Stifel Nicolaus in a research report issued on Thursday, Benzinga reports. They presently have a $25.00 price target on the pipeline company’s stock. Stifel Nicolaus’ target price indicates a potential upside of 15.23% from the company’s previous close.

A number of other brokerages have also recently issued reports on ET. Truist Financial lifted their price objective on shares of Energy Transfer from $23.00 to $25.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. Wall Street Zen upgraded shares of Energy Transfer from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. JPMorgan Chase & Co. raised their price target on shares of Energy Transfer from $24.00 to $25.00 and gave the company an “overweight” rating in a research report on Friday, September 4th. Morgan Stanley lifted their price target on Energy Transfer from $23.00 to $25.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 18th. Finally, Citigroup reissued a “buy” rating and set a $24.00 price objective (up from $23.00) on shares of Energy Transfer in a report on Friday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $24.17.

Energy Transfer Trading Up 0.9%

ET opened at $21.70 on Thursday. The company has a fifty day moving average price of $20.61 and a two-hundred day moving average price of $19.70. Energy Transfer has a 1-year low of $16.18 and a 1-year high of $21.77. The company has a market cap of $74.70 billion, a P/E ratio of 14.76, a price-to-earnings-growth ratio of 0.73 and a beta of 0.57. 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 issued its earnings results on Tuesday, August 4th. The pipeline company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.21. The company had revenue of $34.33 billion for the quarter, compared to analysts’ expectations of $27.71 billion. Energy Transfer had a return on equity of 11.55% and a net margin of 4.87%.Energy Transfer’s quarterly revenue was up 78.4% compared to the same quarter last year. During the same period last year, the business earned $0.32 EPS. Analysts predict that Energy Transfer will post 1.7 EPS for the current fiscal year.

Insider Transactions at Energy Transfer

In other news, Director Kelcy Warren acquired 647,968 shares of the firm’s stock in a transaction 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 purchase, the director owned 147,901,879 shares in the company, valued at approximately $3,144,393,947.54. This represents a 0.44% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director James Perry bought 12,359 shares of the company’s stock in a transaction on Friday, August 7th. The shares were purchased at an average cost of $20.23 per share, for a total transaction of $250,022.57. Following the transaction, the director owned 208,046 shares in the company, valued at approximately $4,208,770.58. This represents a 6.32% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired a total of 1,012,359 shares of company stock valued at $21,513,543 over the last ninety days. 3.28% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Basepoint Wealth LLC purchased a new position in shares of Energy Transfer in the 4th quarter worth about $25,000. Osbon Capital Management LLC bought a new stake in Energy Transfer in the second quarter worth about $25,000. Gables Capital Management Inc. boosted its stake in Energy Transfer by 60.0% in the fourth quarter. Gables Capital Management Inc. now owns 1,600 shares of the pipeline company’s stock valued at $26,000 after acquiring an additional 600 shares during the last quarter. Sarver Vrooman Wealth Advisors bought a new position in shares of Energy Transfer during the 4th quarter valued at approximately $32,000. Finally, Cassaday & Co Wealth Management LLC bought a new position in shares of Energy Transfer during the 1st quarter valued at approximately $35,000. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Energy Transfer Company Profile

Energy Transfer LP (NYSE: ET) is a diversified midstream energy partnership that owns and operates infrastructure used to transport, store, process and market energy commodities. Its assets support the movement of natural gas, crude oil, natural gas liquids (NGLs), refined products and other hydrocarbon-based materials.

The company’s operations include natural gas gathering and processing, interstate and intrastate pipeline transportation, NGL fractionation and storage, crude oil and refined products transportation, and terminal services.