Energy Transfer (NYSE:ET) Earns “Buy” Rating from UBS Group

Energy Transfer (NYSE:ET)‘s stock had its “buy” rating reiterated by equities researchers at UBS Group in a note issued to investors on Wednesday,Benzinga reports. They currently have a $22.00 target price on the pipeline company’s stock. UBS Group’s price objective would indicate a potential upside of 31.97% from the company’s previous close.

Several other research firms also recently issued reports on ET. Morgan Stanley reduced their price target on shares of Energy Transfer from $24.00 to $23.00 and set an “overweight” rating for the company in a research report on Tuesday, August 26th. Weiss Ratings reiterated a “buy (b)” rating on shares of Energy Transfer in a report on Wednesday, October 8th. Cowen initiated coverage on shares of Energy Transfer in a report on Monday, July 7th. They issued a “buy” rating on the stock. Scotiabank started coverage on shares of Energy Transfer in a research report on Tuesday, September 2nd. They issued a “sector outperform” rating and a $23.00 price target on the stock. Finally, TD Cowen initiated coverage on Energy Transfer in a report on Monday, July 7th. They set a “buy” rating and a $22.00 price objective for the company. Thirteen investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Energy Transfer currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.67.

Energy Transfer Stock Performance

Shares of ET stock opened at $16.67 on Wednesday. The company has a market cap of $57.22 billion, a price-to-earnings ratio of 12.92, a price-to-earnings-growth ratio of 1.00 and a beta of 0.78. Energy Transfer has a 52 week low of $14.60 and a 52 week high of $21.45. The company has a quick ratio of 0.92, a current ratio of 1.15 and a debt-to-equity ratio of 1.44. The firm has a 50 day moving average of $17.25 and a 200-day moving average of $17.41.

Energy Transfer (NYSE:ET) last announced its quarterly earnings data on Wednesday, August 6th. The pipeline company reported $0.32 EPS for the quarter, hitting the consensus estimate of $0.32. The company had revenue of $19.24 billion during the quarter, compared to the consensus estimate of $24.07 billion. Energy Transfer had a net margin of 5.80% and a return on equity of 11.08%. The company’s quarterly revenue was down 7.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.35 EPS. On average, equities analysts forecast that Energy Transfer will post 1.46 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Kelcy L. Warren acquired 1,350,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 20th. The stock was bought at an average price of $17.36 per share, with a total value of $23,436,000.00. Following the acquisition, the director owned 69,178,477 shares in the company, valued at $1,200,938,360.72. The trade was a 1.99% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 3.28% of the company’s stock.

Institutional Investors Weigh In On Energy Transfer

Several hedge funds and other institutional investors have recently modified their holdings of ET. Vanguard Personalized Indexing Management LLC grew its holdings in Energy Transfer by 1.4% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 39,845 shares of the pipeline company’s stock worth $723,000 after acquiring an additional 565 shares during the period. Indiana Trust & Investment Management Co grew its holdings in Energy Transfer by 5.1% during the first quarter. Indiana Trust & Investment Management Co now owns 11,796 shares of the pipeline company’s stock worth $219,000 after acquiring an additional 576 shares during the period. Beam Wealth Advisors Inc. grew its holdings in Energy Transfer by 1.5% during the first quarter. Beam Wealth Advisors Inc. now owns 39,934 shares of the pipeline company’s stock worth $742,000 after acquiring an additional 585 shares during the period. Bogart Wealth LLC grew its holdings in Energy Transfer by 1.9% during the second quarter. Bogart Wealth LLC now owns 32,788 shares of the pipeline company’s stock worth $594,000 after acquiring an additional 604 shares during the period. Finally, MCF Advisors LLC grew its holdings in Energy Transfer by 7.2% during the second quarter. MCF Advisors LLC now owns 9,195 shares of the pipeline company’s stock worth $167,000 after acquiring an additional 616 shares during the period. 38.22% of the stock is currently owned by institutional investors.

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.