Energy Transfer (NYSE:ET) Research Coverage Started at Bank of America

Bank of America started coverage on shares of Energy Transfer (NYSE:ET) in a report issued on Thursday, StockNewsAPI reports. The firm set a “buy” rating and a $20.00 price target on the pipeline company’s stock. Bank of America‘s price target suggests a potential upside of 21.95% from the company’s current price.

A number of other research firms also recently issued reports on ET. UBS Group boosted their price objective on shares of Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Royal Bank of Canada boosted their price objective on shares of Energy Transfer from $19.00 to $20.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a report on Thursday, June 20th. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $20.00.

Energy Transfer Stock Up 0.2 %

Shares of ET opened at $16.40 on Thursday. Energy Transfer has a 52 week low of $12.90 and a 52 week high of $16.64. The firm has a market cap of $55.27 billion, a P/E ratio of 15.05, a price-to-earnings-growth ratio of 0.50 and a beta of 1.66. The firm’s 50-day simple moving average is $16.09 and its 200 day simple moving average is $15.94. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.92 and a current ratio of 1.14.

Energy Transfer (NYSE:ET) last announced its quarterly earnings results on Wednesday, August 7th. The pipeline company reported $0.35 EPS 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 during the quarter, compared to analyst estimates of $22.01 billion. During the same quarter last year, the company posted $0.25 EPS. The firm’s quarterly revenue was up 13.1% on a year-over-year basis. On average, analysts forecast that Energy Transfer will post 1.35 earnings per share for the current year.

Insider Buying and Selling at Energy Transfer

In other Energy Transfer news, CEO Thomas E. Long purchased 20,000 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were bought at an average price of $15.68 per share, for a total transaction of $313,600.00. Following the completion of the acquisition, the chief executive officer now owns 4,308,859 shares in the company, valued at approximately $67,562,909.12. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Energy Transfer news, CEO Thomas E. Long purchased 20,000 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were bought at an average price of $15.68 per share, for a total transaction of $313,600.00. Following the completion of the acquisition, the chief executive officer now owns 4,308,859 shares in the company, valued at approximately $67,562,909.12. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kelcy L. Warren purchased 3,000,000 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were acquired at an average price of $15.68 per share, for a total transaction of $47,040,000.00. Following the acquisition, the director now owns 123,385,650 shares of the company’s stock, valued at $1,934,686,992. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 3,040,000 shares of company stock worth $47,667,200 over the last quarter. Corporate insiders own 3.28% of the company’s stock.

Hedge Funds Weigh In On Energy Transfer

Hedge funds have recently bought and sold shares of the company. LRI Investments LLC bought a new position in Energy Transfer during the first quarter worth $29,000. HWG Holdings LP bought a new position in Energy Transfer during the second quarter worth $33,000. Sugarloaf Wealth Management LLC raised its stake in 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 buying an additional 750 shares during the last quarter. EdgeRock Capital LLC bought a new stake in Energy Transfer in the second quarter valued at $42,000. Finally, Hudson Edge Investment Partners Inc. bought a new stake in Energy Transfer in the second quarter valued at $42,000. Institutional investors own 38.22% of the company’s stock.

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.