Energy Transfer (TXSE:ET) Stock Price Target Raised at Citigroup

Key Points

• Citigroup raised Energy Transfer’s price target from $24 to $25 and maintained a Buy rating, implying about 32% upside from the prior close.
• Analyst sentiment is broadly positive: the stock has a Moderate Buy consensus rating and an average price target of $24.80.
• Energy Transfer reported quarterly EPS of $0.33, below the $0.40 consensus estimate, despite revenue of $37.1 billion exceeding expectations.

Energy Transfer (TXSE:ET - Get Free Report) had its price target increased by stock analysts at Citigroup from $24.00 to $25.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has a "buy" rating on the pipeline company's stock. Citigroup's target price would indicate a potential upside of 32.14% from the company's previous close.

Other analysts have also issued reports about the stock. JPMorgan Chase & Co. boosted their price objective on shares of Energy Transfer from $24.00 to $25.00 and gave the company an "overweight" rating in a report on Friday, September 4th. Weiss Ratings raised shares of Energy Transfer from a "buy (b)" rating to a "buy (a-)" rating in a research report on Tuesday, September 8th. Mizuho set a $26.00 target price on shares of Energy Transfer in a research note on Tuesday, October 13th. Zacks Research cut shares of Energy Transfer from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 11th. Finally, TD Cowen reissued a "buy" rating and issued a $25.00 price target (up from $24.00) on shares of Energy Transfer in a research note on Monday, August 10th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $24.80.

Energy Transfer Trading Down 1.4%

Shares of Energy Transfer stock traded down $0.27 during mid-day trading on Friday, hitting $18.92. The stock had a trading volume of 10,833,449 shares, compared to its average volume of 12,130,428. The firm has a 50-day moving average of $20.65 and a two-hundred day moving average of $19.70. Energy Transfer has a 12-month low of $16.18 and a 12-month high of $21.84. The company has a quick ratio of 0.94, a current ratio of 1.16 and a debt-to-equity ratio of 1.45. The firm has a market cap of $65.15 billion, a P/E ratio of 12.87, a price-to-earnings-growth ratio of 0.73 and a beta of 0.62.

Energy Transfer (TXSE:ET - Get Free Report) last posted its earnings results on Tuesday, November 3rd. The pipeline company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.07). The business had revenue of $37.10 billion for the quarter, compared to analyst estimates of $30.98 billion. Energy Transfer had a return on equity of 11.55% and a net margin of 4.87%. During the same period last year, the business earned $0.28 EPS. Sell-side analysts forecast that Energy Transfer will post 1.73 earnings per share for the current year.

Insider Transactions at Energy Transfer

In other Energy Transfer news, Director Kelcy Warren purchased 647,968 shares of the business's stock in a transaction on Wednesday, August 19th. The shares were bought at an average cost of $21.26 per share, for a total transaction of $13,775,799.68. Following the completion of the purchase, the director directly owned 147,901,879 shares of the company's stock, valued at approximately $3,144,393,947.54. This trade represents a 0.44% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.28% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ET. Allworth Financial LP lifted its stake in shares of Energy Transfer by 7.1% in the 3rd quarter. Allworth Financial LP now owns 133,898 shares of the pipeline company's stock worth $2,560,000 after acquiring an additional 8,869 shares during the period. Russell Investments Group Ltd. boosted its holdings in shares of Energy Transfer by 58.2% in the third quarter. Russell Investments Group Ltd. now owns 16,666 shares of the pipeline company's stock valued at $329,000 after acquiring an additional 6,131 shares in the last quarter. Alpha Wealth Funds LLC increased its stake in shares of Energy Transfer by 16.8% during the third quarter. Alpha Wealth Funds LLC now owns 104,500 shares of the pipeline company's stock worth $2,081,000 after acquiring an additional 15,000 shares during the period. Jefferies Financial Group Inc. purchased a new position in Energy Transfer during the third quarter worth about $4,459,000. Finally, Bahl & Gaynor LLC raised its holdings in Energy Transfer by 12.1% during the third quarter. Bahl & Gaynor LLC now owns 349,827 shares of the pipeline company's stock worth $6,916,000 after purchasing an additional 37,791 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 is a diversified energy infrastructure company headquartered in Dallas, Texas. The partnership owns and operates a broad network of pipelines, processing facilities, storage assets and terminals that support the movement of natural gas, natural gas liquids, crude oil and refined products across the United States.

The company’s operations include gathering and processing natural gas, transporting and storing natural gas and NGLs, fractionating NGLs into component products, and transporting crude oil and refined products.

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