UBS Group Raises Energy Transfer (NYSE:ET) Price Target to $23.00

Energy Transfer (NYSE:ET) had its target price upped by UBS Group from $22.00 to $23.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the pipeline company’s stock. UBS Group’s price target suggests a potential upside of 43.30% from the company’s previous close.

Several other equities analysts have also recently commented on the stock. Morgan Stanley boosted their target price on shares of Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a research report on Monday, June 10th. Mizuho boosted their price objective on shares of Energy Transfer from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, June 18th. Finally, JPMorgan Chase & Co. raised their target price on Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a report on Thursday, June 20th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $19.14.

Energy Transfer Price Performance

Shares of NYSE ET traded up $0.03 during midday trading on Wednesday, reaching $16.05. The company’s stock had a trading volume of 1,068,821 shares, compared to its average volume of 13,309,360. The company has a market cap of $54.09 billion, a P/E ratio of 14.74, a P/E/G ratio of 0.46 and a beta of 1.66. Energy Transfer has a fifty-two week low of $12.90 and a fifty-two week high of $16.50. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.92 and a current ratio of 1.14. The business’s 50 day moving average price is $16.06 and its two-hundred day moving average price is $15.81.

Energy Transfer (NYSE:ET) last released its earnings results on Wednesday, August 7th. The pipeline company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). Energy Transfer had a net margin of 5.19% and a return on equity of 12.74%. The company had revenue of $20.73 billion for the quarter, compared to the consensus estimate of $22.01 billion. During the same quarter in the previous year, the company posted $0.25 earnings per share. The business’s revenue was up 13.1% compared to the same quarter last year. On average, analysts forecast that Energy Transfer will post 1.4 EPS for the current fiscal year.

Insider Activity at Energy Transfer

In other news, Director Kelcy L. Warren bought 3,000,000 shares of the company’s stock in a transaction on Monday, August 12th. The stock was purchased at an average cost of $15.68 per share, for a total transaction of $47,040,000.00. Following the completion of the transaction, the director now owns 123,385,650 shares of the company’s stock, valued at $1,934,686,992. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. In other Energy Transfer news, Director Kelcy L. Warren purchased 3,000,000 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was purchased at an average cost of $15.68 per share, for a total transaction of $47,040,000.00. Following the transaction, the director now owns 123,385,650 shares in the company, valued at approximately $1,934,686,992. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Gregory G. Mcilwain purchased 20,000 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were acquired at an average cost of $15.68 per share, with a total value of $313,600.00. Following the purchase, the executive vice president now directly owns 591,211 shares of the company’s stock, valued at approximately $9,270,188.48. The disclosure for this purchase can be found here. Insiders have bought a total of 3,040,000 shares of company stock valued at $47,667,200 in the last 90 days. 3.28% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Energy Transfer

Institutional investors and hedge funds have recently made changes to their positions in the stock. Rehmann Capital Advisory Group raised its stake in Energy Transfer by 2.0% during the first quarter. Rehmann Capital Advisory Group now owns 32,080 shares of the pipeline company’s stock worth $505,000 after buying an additional 633 shares during the last quarter. Veracity Capital LLC lifted its stake in shares of Energy Transfer by 2.0% in the 2nd quarter. Veracity Capital LLC now owns 33,575 shares of the pipeline company’s stock valued at $545,000 after purchasing an additional 659 shares during the period. Sfmg LLC boosted its position in shares of Energy Transfer by 2.2% during the 1st quarter. Sfmg LLC now owns 31,406 shares of the pipeline company’s stock valued at $494,000 after purchasing an additional 674 shares in the last quarter. Morton Capital Management LLC CA grew its stake in Energy Transfer by 1.6% during the second quarter. Morton Capital Management LLC CA now owns 44,383 shares of the pipeline company’s stock worth $720,000 after purchasing an additional 699 shares during the period. Finally, FinTrust Capital Advisors LLC increased its holdings in Energy Transfer by 3.6% in the first quarter. FinTrust Capital Advisors LLC now owns 20,201 shares of the pipeline company’s stock worth $318,000 after purchasing an additional 700 shares in the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

About Energy Transfer

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.