Energy Transfer (NYSE:ET) Now Covered by Capital One Financial

Key Points

• Capital One Financial initiated coverage of Energy Transfer with an “overweight” rating and a $26 price target, implying 24.4% upside from the prior close.
• Analyst sentiment is broadly positive, with Energy Transfer carrying a “Moderate Buy” consensus rating and an average price target of $24.36.
• The company reported strong quarterly results, including $0.59 in earnings per share versus a $0.38 estimate and 78.4% year-over-year revenue growth; insiders also purchased more than $21.5 million of stock over the past 90 days.

Research analysts at Capital One Financial began coverage on shares of Energy Transfer (NYSE:ET - Get Free Report) in a report issued on Tuesday, Briefing.com reports. The firm set an "overweight" rating and a $26.00 price target on the pipeline company's stock. Capital One Financial's target price indicates a potential upside of 24.40% from the company's previous close.

Several other equities research analysts have also recently issued reports on ET. Barclays restated an "overweight" rating and issued a $24.00 target price (up from $23.00) on shares of Energy Transfer in a report on Wednesday, August 5th. Royal Bank Of Canada reissued an "outperform" rating and set a $23.00 price target (up from $21.00) on shares of Energy Transfer in a report on Tuesday, July 21st. Jefferies Financial Group reaffirmed a "buy" rating on shares of Energy Transfer in a report on Wednesday, August 5th. Melius Research started coverage on Energy Transfer in a research report on Tuesday. They set a "hold" rating and a $25.00 price objective for the company. Finally, Citigroup reissued a "buy" rating and issued a $24.00 target price (up from $23.00) on shares of Energy Transfer in a research report on Friday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, Energy Transfer has an average rating of "Moderate Buy" and a consensus price target of $24.36.

Energy Transfer Trading Down 1.1%

Shares of NYSE ET opened at $20.90 on Tuesday. The firm's 50 day moving average price is $20.87 and its 200-day moving average price is $19.84. Energy Transfer has a 52-week low of $16.18 and a 52-week high of $21.84. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.94 and a current ratio of 1.16. The company has a market cap of $71.96 billion, a PE ratio of 14.22, a P/E/G ratio of 0.70 and a beta of 0.57.

Energy Transfer (NYSE:ET - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The pipeline company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.21. Energy Transfer had a net margin of 4.87% and a return on equity of 11.55%. The company had revenue of $34.33 billion during the quarter, compared to the consensus estimate of $27.71 billion. During the same quarter last year, the firm earned $0.32 earnings per share. The firm's quarterly revenue was up 78.4% compared to the same quarter last year. On average, equities research analysts expect that Energy Transfer will post 1.74 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director James Perry acquired 12,359 shares of the business's stock in a transaction on Friday, August 7th. The stock was acquired at an average cost of $20.23 per share, with a total value of $250,022.57. Following the acquisition, the director directly owned 208,046 shares in the company, valued at $4,208,770.58. This represents a 6.32% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Kelcy Warren acquired 647,968 shares of Energy Transfer stock in a transaction dated Wednesday, August 19th. The shares were bought at an average price of $21.26 per share, for a total transaction of $13,775,799.68. Following the transaction, the director owned 147,901,879 shares of the company's stock, valued at approximately $3,144,393,947.54. The trade was a 0.44% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders have acquired 1,012,359 shares of company stock valued at $21,513,543. Insiders own 3.28% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Basepoint Wealth LLC purchased a new position in Energy Transfer during the 4th quarter valued at approximately $25,000. Osbon Capital Management LLC bought a new position in shares of Energy Transfer during the 2nd quarter valued at approximately $25,000. Sarver Vrooman Wealth Advisors bought a new position in shares of Energy Transfer during the 4th quarter valued at approximately $32,000. Cassaday & Co Wealth Management LLC purchased a new position in shares of Energy Transfer in the first quarter valued at $35,000. Finally, Vermillion Wealth Management Inc. grew its holdings in shares of Energy Transfer by 69.5% in the fourth quarter. Vermillion Wealth Management Inc. now owns 2,351 shares of the pipeline company's stock valued at $39,000 after purchasing an additional 964 shares in the last quarter. Hedge funds and other institutional investors own 38.22% of the company's stock.

Energy Transfer Company Profile

Energy Transfer LP NYSE: ET is a diversified midstream energy partnership that owns and operates infrastructure used to transport, store, process and market energy commodities. Its assets support the movement of natural gas, crude oil, natural gas liquids (NGLs), refined products and other hydrocarbon-based materials.

The company's operations include natural gas gathering and processing, interstate and intrastate pipeline transportation, NGL fractionation and storage, crude oil and refined products transportation, and terminal services.

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