Barclays Reaffirms Overweight Rating for Energy Transfer (NYSE:ET)

Key Points

• Barclays has reiterated an "overweight" rating for Energy Transfer (NYSE:ET) with a price target of $25.00, indicating a potential upside of 49.48% from the current trading price.
• Energy Transfer's stock recently traded at $16.73, reflecting an increase of 1.2% during mid-day trading, with a market capitalization of $57.41 billion.
• Director Kelcy L. Warren made a significant investment, purchasing 1,350,000 shares at an average price of $17.36, raising his total holdings to approximately $1.2 billion.

Energy Transfer (NYSE:ET - Get Free Report)'s stock had its "overweight" rating restated by analysts at Barclays in a report issued on Wednesday,Benzinga reports. They currently have a $25.00 price target on the pipeline company's stock. Barclays's target price would suggest a potential upside of 49.48% from the stock's previous close.

Several other research analysts have also commented on ET. Scotiabank started coverage on shares of Energy Transfer in a report on Tuesday, September 2nd. They issued a "sector outperform" rating and a $23.00 price target for the company. UBS Group restated a "buy" rating and set a $22.00 price target on shares of Energy Transfer in a research report on Wednesday. TD Cowen started coverage on shares of Energy Transfer in a research report on Monday, July 7th. They set a "buy" rating and a $22.00 price target on the stock. Morgan Stanley dropped their target price on shares of Energy Transfer from $24.00 to $23.00 and set an "overweight" rating on the stock in a report on Tuesday, August 26th. Finally, Wells Fargo & Company restated an "overweight" rating and set a $23.00 price target (up previously from $21.00) on shares of Energy Transfer in a report on Tuesday, August 12th. Fourteen investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Energy Transfer currently has an average rating of "Moderate Buy" and an average price target of $22.46.

Energy Transfer Stock Up 1.2%

ET stock traded up $0.20 during mid-day trading on Wednesday, hitting $16.73. 7,666,305 shares of the company were exchanged, compared to its average volume of 14,891,089. The company has a market capitalization of $57.41 billion, a PE ratio of 12.97, a price-to-earnings-growth ratio of 0.97 and a beta of 0.78. The company has a current ratio of 1.15, a quick ratio of 0.92 and a debt-to-equity ratio of 1.44. Energy Transfer has a twelve month low of $14.60 and a twelve month high of $21.45. The firm has a fifty day simple moving average of $17.29 and a 200 day simple moving average of $17.43.

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

Insider Buying and Selling

In other Energy Transfer news, Director Kelcy L. Warren bought 1,350,000 shares of the firm's stock in a transaction on Wednesday, August 20th. The stock was bought at an average cost of $17.36 per share, with a total value of $23,436,000.00. Following the completion of the transaction, the director directly owned 69,178,477 shares of the company's stock, valued at approximately $1,200,938,360.72. The trade was a 1.99% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 3.28% of the stock is owned by corporate insiders.

Institutional Trading of Energy Transfer

A number of institutional investors and hedge funds have recently modified their holdings of the company. Alps Advisors Inc. lifted its stake in shares of Energy Transfer by 12.9% in the first quarter. Alps Advisors Inc. now owns 75,353,994 shares of the pipeline company's stock worth $1,400,831,000 after buying an additional 8,613,645 shares during the last quarter. Tortoise Capital Advisors L.L.C. lifted its stake in shares of Energy Transfer by 2.6% in the first quarter. Tortoise Capital Advisors L.L.C. now owns 38,205,495 shares of the pipeline company's stock worth $710,240,000 after buying an additional 951,656 shares during the last quarter. Kayne Anderson Capital Advisors LP lifted its stake in shares of Energy Transfer by 0.8% in the first quarter. Kayne Anderson Capital Advisors LP now owns 24,170,455 shares of the pipeline company's stock worth $449,329,000 after buying an additional 182,705 shares during the last quarter. Energy Income Partners LLC raised its stake in Energy Transfer by 12.0% during the 1st quarter. Energy Income Partners LLC now owns 23,120,066 shares of the pipeline company's stock valued at $429,802,000 after purchasing an additional 2,471,401 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Energy Transfer by 9.3% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,353,476 shares of the pipeline company's stock valued at $387,139,000 after purchasing an additional 1,825,391 shares during the last quarter. 38.22% of the stock is currently owned by institutional investors and hedge funds.

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.

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