Energy Transfer (NYSE:ET – Get Free Report) had its target price raised by stock analysts at Scotiabank from $22.00 to $24.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “sector outperform” rating on the pipeline company’s stock. Scotiabank’s target price indicates a potential upside of 20.94% from the stock’s current price.
Other equities research analysts also recently issued research reports about the company. Raymond James Financial reiterated a “strong-buy” rating on shares of Energy Transfer in a research report on Wednesday, May 6th. Morgan Stanley increased their target price on Energy Transfer from $19.00 to $21.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 10th. Stifel Nicolaus increased their target price on Energy Transfer from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Jefferies Financial Group reissued a “hold” rating on shares of Energy Transfer in a research note on Wednesday, May 6th. Finally, Wells Fargo & Company increased their target price on Energy Transfer from $23.00 to $25.00 and gave the company an “overweight” rating in a research note on Friday, March 13th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $22.50.
Get Our Latest Stock Report on Energy Transfer
Energy Transfer Price Performance
Energy Transfer (NYSE:ET – Get Free Report) last issued its quarterly earnings data on Tuesday, May 5th. The pipeline company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.05). Energy Transfer had a return on equity of 9.77% and a net margin of 4.66%.The business had revenue of $27.77 billion during the quarter, compared to analysts’ expectations of $25.78 billion. During the same quarter last year, the business posted $0.36 EPS. The company’s quarterly revenue was up 32.1% on a year-over-year basis. As a group, equities analysts predict that Energy Transfer will post 1.47 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Keybank National Association OH grew its stake in shares of Energy Transfer by 0.3% during the first quarter. Keybank National Association OH now owns 219,232 shares of the pipeline company’s stock valued at $4,231,000 after buying an additional 556 shares during the last quarter. Mountain Capital Investment Advisors Inc. boosted its holdings in Energy Transfer by 4.9% during the 4th quarter. Mountain Capital Investment Advisors Inc. now owns 12,007 shares of the pipeline company’s stock valued at $216,000 after acquiring an additional 560 shares during the period. Marks Wealth LLC boosted its holdings in Energy Transfer by 4.7% during the 4th quarter. Marks Wealth LLC now owns 12,560 shares of the pipeline company’s stock valued at $207,000 after acquiring an additional 560 shares during the period. Citizens Financial Group Inc. RI boosted its holdings in Energy Transfer by 2.4% during the 1st quarter. Citizens Financial Group Inc. RI now owns 23,978 shares of the pipeline company’s stock valued at $463,000 after acquiring an additional 562 shares during the period. Finally, Avos Capital Management LLC boosted its holdings in Energy Transfer by 0.8% during the 4th quarter. Avos Capital Management LLC now owns 76,695 shares of the pipeline company’s stock valued at $1,265,000 after acquiring an additional 583 shares during the period. 38.22% of the stock is owned by institutional investors.
About Energy Transfer
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.
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