Energy Transfer (NYSE:ET) Now Covered by Analysts at TD Cowen

Investment analysts at TD Cowen assumed coverage on shares of Energy Transfer (NYSE:ET - Get Free Report) in a research note issued on Monday,Briefing.com Automated Import reports. The brokerage set a "buy" rating and a $22.00 price target on the pipeline company's stock. TD Cowen's price objective would indicate a potential upside of 22.63% from the company's previous close.

Several other research firms have also commented on ET. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $23.00 target price on shares of Energy Transfer in a report on Tuesday, March 25th. Cowen assumed coverage on Energy Transfer in a research note on Monday. They issued a "buy" rating for the company. Citigroup restated a "buy" rating on shares of Energy Transfer in a research report on Monday, March 24th. Mizuho boosted their price objective on Energy Transfer from $22.00 to $23.00 and gave the company an "outperform" rating in a research report on Tuesday, May 20th. Finally, Wells Fargo & Company cut their target price on shares of Energy Transfer from $22.00 to $21.00 and set an "overweight" rating on the stock in a report on Wednesday, May 7th. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $22.58.

Energy Transfer Trading Up 0.2%

Shares of ET opened at $17.94 on Monday. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.12 and a quick ratio of 0.92. Energy Transfer has a 1-year low of $14.60 and a 1-year high of $21.45. The company has a market capitalization of $61.57 billion, a P/E ratio of 13.59, a P/E/G ratio of 0.58 and a beta of 0.79. The firm's 50 day simple moving average is $17.66 and its 200 day simple moving average is $18.47.

Energy Transfer (NYSE:ET - Get Free Report) last announced its earnings results on Tuesday, May 6th. The pipeline company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.03. Energy Transfer had a net margin of 5.88% and a return on equity of 11.47%. The company had revenue of $21.02 billion during the quarter, compared to analyst estimates of $22.28 billion. During the same period in the previous year, the business earned $0.32 earnings per share. The firm's quarterly revenue was down 2.8% compared to the same quarter last year. Sell-side analysts forecast that Energy Transfer will post 1.46 earnings per share for the current fiscal year.

Insider Transactions at Energy Transfer

In other Energy Transfer news, Director James Richard Perry sold 1,369 shares of the company's stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $18.48, for a total transaction of $25,299.12. Following the transaction, the director owned 24,523 shares in the company, valued at approximately $453,185.04. This represents a 5.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.28% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Energy Transfer

Several hedge funds have recently made changes to their positions in ET. Mountain Hill Investment Partners Corp. purchased a new stake in shares of Energy Transfer in the fourth quarter worth $25,000. Capital A Wealth Management LLC purchased a new stake in Energy Transfer during the 4th quarter valued at about $26,000. Fourth Dimension Wealth LLC purchased a new stake in Energy Transfer during the 4th quarter valued at about $29,000. Vision Financial Markets LLC bought a new stake in Energy Transfer during the 1st quarter valued at about $33,000. Finally, United Community Bank purchased a new position in Energy Transfer in the fourth quarter worth about $35,000. 38.22% of the stock is currently owned by institutional investors.

Energy Transfer Company Profile

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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