Energy Transfer (NYSE:ET) Price Target Raised to $25.00

Energy Transfer (NYSE:ET - Free Report) had its price objective increased by Barclays from $22.00 to $25.00 in a report issued on Monday,Benzinga reports. The firm currently has an overweight rating on the pipeline company's stock.

A number of other analysts have also issued reports on the company. Bank of America initiated coverage on Energy Transfer in a research note on Thursday, October 17th. They issued a "buy" rating and a $20.00 price target on the stock. Royal Bank of Canada raised their price target on shares of Energy Transfer from $20.00 to $23.00 and gave the stock an "outperform" rating in a research note on Monday, December 9th. The Goldman Sachs Group boosted their target price on Energy Transfer from $17.00 to $20.00 and gave the stock a "neutral" rating in a report on Thursday, December 19th. Wells Fargo & Company increased their target price on shares of Energy Transfer from $20.00 to $21.00 and gave the stock an "overweight" rating in a research note on Wednesday, December 18th. Finally, UBS Group boosted their price target on shares of Energy Transfer from $22.00 to $23.00 and gave the company a "buy" rating in a research note on Wednesday, September 18th. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $20.82.

Energy Transfer Stock Performance

Shares of Energy Transfer stock traded up $0.03 on Monday, reaching $19.45. 17,302,151 shares of the stock were exchanged, compared to its average volume of 14,535,696. The firm has a market capitalization of $66.60 billion, a price-to-earnings ratio of 14.30, a PEG ratio of 0.62 and a beta of 1.70. The business has a 50 day moving average price of $18.79 and a two-hundred day moving average price of $17.09. The company has a quick ratio of 0.88, a current ratio of 1.08 and a debt-to-equity ratio of 1.40. Energy Transfer has a twelve month low of $13.60 and a twelve month high of $20.02.

Energy Transfer (NYSE:ET - Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.32. The firm had revenue of $20.77 billion for the quarter, compared to the consensus estimate of $21.59 billion. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The firm's quarterly revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.31 earnings per share. Analysts anticipate that Energy Transfer will post 1.32 earnings per share for the current fiscal year.

Energy Transfer Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th were issued a $0.3225 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.29 dividend on an annualized basis and a dividend yield of 6.63%. Energy Transfer's payout ratio is currently 94.85%.

Institutional Investors Weigh In On Energy Transfer

Institutional investors and hedge funds have recently bought and sold shares of the stock. Empowered Funds LLC raised its position in Energy Transfer by 15.0% in the 3rd quarter. Empowered Funds LLC now owns 346,825 shares of the pipeline company's stock valued at $5,567,000 after purchasing an additional 45,172 shares during the last quarter. Watts Gwilliam & Co. LLC purchased a new position in shares of Energy Transfer during the fourth quarter worth about $1,297,000. Kingsview Wealth Management LLC increased its position in Energy Transfer by 30.9% in the 3rd quarter. Kingsview Wealth Management LLC now owns 242,042 shares of the pipeline company's stock valued at $3,885,000 after acquiring an additional 57,184 shares during the period. FMR LLC increased its position in Energy Transfer by 44.0% in the 3rd quarter. FMR LLC now owns 33,379,297 shares of the pipeline company's stock valued at $535,738,000 after acquiring an additional 10,195,768 shares during the period. Finally, Clear Street Derivatives LLC acquired a new stake in Energy Transfer during the 3rd quarter worth approximately $2,565,000. 38.22% of the stock is owned by hedge funds and other 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.