Energy Transfer (NYSE:ET) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Energy Transfer (NYSE:ET) had its price objective lifted by stock analysts at Wells Fargo & Company from $20.00 to $21.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the pipeline company’s stock. Wells Fargo & Company‘s target price suggests a potential upside of 12.72% from the stock’s current price.

Other equities analysts have also issued research reports about the company. Bank of America began coverage on shares of Energy Transfer in a report on Thursday, October 17th. They set a “buy” rating and a $20.00 target price on the stock. Royal Bank of Canada boosted their price target on Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Finally, UBS Group boosted their price target on shares of Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $20.44.

Energy Transfer Stock Performance

Shares of Energy Transfer stock opened at $18.63 on Wednesday. The firm has a market capitalization of $63.79 billion, a P/E ratio of 13.70, a price-to-earnings-growth ratio of 0.63 and a beta of 1.70. Energy Transfer has a 12 month low of $13.60 and a 12 month high of $20.02. The company has a current ratio of 1.08, a quick ratio of 0.88 and a debt-to-equity ratio of 1.40. The business’s fifty day simple moving average is $17.68 and its 200 day simple moving average is $16.59.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share for the quarter, hitting the consensus estimate of $0.32. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The company had revenue of $20.77 billion for the quarter, compared to analysts’ expectations of $21.59 billion. During the same period in the prior year, the business earned $0.31 earnings per share. Energy Transfer’s revenue for the quarter was up .2% compared to the same quarter last year. As a group, analysts anticipate that Energy Transfer will post 1.32 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ET. Princeton Global Asset Management LLC increased its position in Energy Transfer by 65.0% during the third quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock worth $26,000 after buying an additional 650 shares during the last quarter. Assetmark Inc. boosted its stake in Energy Transfer by 2,138.5% in the 3rd quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock valued at $28,000 after buying an additional 1,668 shares in the last quarter. HWG Holdings LP acquired a new position in Energy Transfer in the second quarter valued at about $33,000. Sugarloaf Wealth Management LLC lifted its position in shares of Energy Transfer by 43.6% during the third quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company’s stock worth $40,000 after purchasing an additional 750 shares in the last quarter. Finally, Continuum Advisory LLC lifted its holdings in Energy Transfer by 44.8% in the third quarter. Continuum Advisory LLC now owns 2,357 shares of the pipeline company’s stock valued at $40,000 after buying an additional 729 shares during the period. 38.22% of the stock is currently owned by institutional investors.

Energy Transfer Company Profile

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.