Energy Transfer (NYSE:ET) Price Target Raised to $23.00 at Stifel Nicolaus

Energy Transfer (NYSE:ET) had its price target raised by analysts at Stifel Nicolaus from $21.00 to $23.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the pipeline company’s stock. Stifel Nicolaus’ price target suggests a potential upside of 15.96% from the stock’s current price.

Other analysts have also recently issued reports about the stock. Barclays lifted their target price on shares of Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Bank of America initiated coverage on shares of Energy Transfer in a research note on Thursday, October 17th. They issued a “buy” rating and a $20.00 price objective for the company. Royal Bank of Canada increased their target price on shares of Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Wells Fargo & Company boosted their price target on Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Finally, The Goldman Sachs Group increased their price objective on Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a report on Thursday, December 19th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, Energy Transfer presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.18.

Energy Transfer Price Performance

Shares of NYSE:ET opened at $19.84 on Wednesday. The firm has a market cap of $67.91 billion, a price-to-earnings ratio of 14.58, a P/E/G ratio of 0.52 and a beta of 1.69. Energy Transfer has a 1 year low of $13.99 and a 1 year high of $21.45. 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 has a fifty day simple moving average of $19.75 and a 200 day simple moving average of $17.72.

Energy Transfer (NYSE:ET) last posted its quarterly earnings results on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.06). Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. As a group, sell-side analysts predict that Energy Transfer will post 1.37 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Energy Transfer

Several hedge funds and other institutional investors have recently modified their holdings of ET. CWM LLC raised its stake in Energy Transfer by 60.6% during the 3rd quarter. CWM LLC now owns 98,436 shares of the pipeline company’s stock valued at $1,580,000 after purchasing an additional 37,136 shares during the last quarter. Wesbanco Bank Inc. increased its holdings in shares of Energy Transfer by 48.9% during the 3rd quarter. Wesbanco Bank Inc. now owns 36,521 shares of the pipeline company’s stock worth $586,000 after purchasing an additional 12,000 shares during the period. Creative Planning raised its position in shares of Energy Transfer by 16.9% during the third quarter. Creative Planning now owns 796,099 shares of the pipeline company’s stock valued at $12,777,000 after buying an additional 115,081 shares during the last quarter. NBC Securities Inc. lifted its stake in shares of Energy Transfer by 6.8% in the third quarter. NBC Securities Inc. now owns 68,738 shares of the pipeline company’s stock valued at $1,103,000 after buying an additional 4,381 shares during the period. Finally, Magnus Financial Group LLC grew its position in Energy Transfer by 19.0% during the third quarter. Magnus Financial Group LLC now owns 21,455 shares of the pipeline company’s stock worth $344,000 after buying an additional 3,429 shares in the last quarter. Institutional investors and hedge funds 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.