Energy Transfer (NYSE:ET) Earns "Buy" Rating from UBS Group

Key Points

• UBS Group has reaffirmed its "buy" rating for Energy Transfer, with a price target of $22.00, indicating a potential upside of 31.03% from the current stock price.
• The stock has experienced recent fluctuations, trading at $16.79 with a 52-week range of $14.60 to $21.45, and an average target price of $22.46 from analysts.
• Director Kelcy L. Warren recently acquired 1.35 million shares of Energy Transfer, increasing his ownership stake and reflecting confidence in the company's future prospects.

Energy Transfer (NYSE:ET - Get Free Report)'s stock had its "buy" rating reaffirmed by UBS Group in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $22.00 price target on the pipeline company's stock. UBS Group's price target suggests a potential upside of 31.03% from the stock's current price.

A number of other equities research analysts have also recently commented on the stock. Cowen initiated coverage on shares of Energy Transfer in a research note on Monday, July 7th. They issued a "buy" rating on the stock. Morgan Stanley decreased their price target on shares of Energy Transfer from $24.00 to $23.00 and set an "overweight" rating on the stock in a research note on Tuesday, August 26th. TD Cowen assumed coverage on shares of Energy Transfer in a research note on Monday, July 7th. They set a "buy" rating and a $22.00 price target on the stock. Wells Fargo & Company reaffirmed an "overweight" rating and set a $23.00 price target (up from $21.00) on shares of Energy Transfer in a research note on Tuesday, August 12th. Finally, Scotiabank initiated coverage on shares of Energy Transfer in a report on Tuesday, September 2nd. They set a "sector outperform" rating and a $23.00 price objective on the stock. Fourteen equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $22.46.

Energy Transfer Stock Performance

Energy Transfer stock traded up $0.26 during trading hours on Wednesday, reaching $16.79. 6,401,133 shares of the stock were exchanged, compared to its average volume of 14,876,454. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.92 and a current ratio of 1.15. Energy Transfer has a 52-week low of $14.60 and a 52-week high of $21.45. The stock has a market cap of $57.63 billion, a P/E ratio of 13.00, a P/E/G ratio of 0.97 and a beta of 0.78. The firm's 50 day moving average is $17.29 and its 200 day moving average is $17.43.

Energy Transfer (NYSE:ET - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The pipeline company reported $0.32 earnings per share for the quarter, hitting analysts' consensus estimates of $0.32. Energy Transfer had a net margin of 5.80% and a return on equity of 11.08%. The business had revenue of $19.24 billion for the quarter, compared to analysts' expectations of $24.07 billion. During the same period in the prior year, the company posted $0.35 EPS. The business's revenue for the quarter was down 7.2% on a year-over-year basis. Analysts predict that Energy Transfer will post 1.46 EPS for the current fiscal year.

Insider Activity

In related news, Director Kelcy L. Warren acquired 1,350,000 shares of Energy Transfer stock in a transaction that occurred on Wednesday, August 20th. The stock was acquired at an average price of $17.36 per share, with a total value of $23,436,000.00. Following the completion of the acquisition, the director directly owned 69,178,477 shares of the company's stock, valued at $1,200,938,360.72. This trade represents a 1.99% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 3.28% of the company's stock.

Institutional Trading of Energy Transfer

A number of hedge funds have recently bought and sold shares of ET. Brighton Jones LLC lifted its position in shares of Energy Transfer by 93.4% in the fourth quarter. Brighton Jones LLC now owns 24,530 shares of the pipeline company's stock worth $481,000 after purchasing an additional 11,844 shares in the last quarter. GAMMA Investing LLC increased its holdings in Energy Transfer by 1,139.3% in the first quarter. GAMMA Investing LLC now owns 18,590 shares of the pipeline company's stock worth $346,000 after buying an additional 17,090 shares during the last quarter. CX Institutional bought a new stake in shares of Energy Transfer in the first quarter valued at approximately $50,000. Wealth Enhancement Advisory Services LLC lifted its position in Energy Transfer by 23.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 941,444 shares of the pipeline company's stock worth $17,501,000 after purchasing an additional 176,812 shares during the period. Finally, Mission Wealth Management LP lifted its holdings in shares of Energy Transfer by 1.8% during the first quarter. Mission Wealth Management LP now owns 52,981 shares of the pipeline company's stock valued at $985,000 after acquiring an additional 953 shares during the period. 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.

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