Energy Transfer (NYSE:ET) Price Target Lowered to $21.00 at Wells Fargo & Company

Energy Transfer (NYSE:ET - Get Free Report) had its price target reduced by Wells Fargo & Company from $22.00 to $21.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has an "overweight" rating on the pipeline company's stock. Wells Fargo & Company's price objective indicates a potential upside of 26.24% from the stock's current price.

Several other equities research analysts have also recently weighed in on ET. Royal Bank of Canada reiterated an "outperform" rating and set a $23.00 price objective on shares of Energy Transfer in a research report on Tuesday, March 25th. Morgan Stanley boosted their target price on Energy Transfer from $20.00 to $26.00 and gave the company an "overweight" rating in a research report on Tuesday, March 25th. Citigroup reiterated a "buy" rating on shares of Energy Transfer in a report on Monday, March 24th. Barclays raised their price objective on Energy Transfer from $22.00 to $25.00 and gave the company an "overweight" rating in a research note on Monday, January 13th. Finally, Stifel Nicolaus boosted their price target on shares of Energy Transfer from $21.00 to $23.00 and gave the stock a "buy" rating in a report on Wednesday, February 12th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $22.09.

Energy Transfer Stock Up 5.2 %

ET stock opened at $16.64 on Wednesday. The business's 50 day simple moving average is $17.57 and its 200 day simple moving average is $18.49. Energy Transfer has a 1-year low of $14.60 and a 1-year high of $21.45. The firm has a market capitalization of $57.08 billion, a PE ratio of 13.01, a PEG ratio of 0.64 and a beta of 0.77. The company has a current ratio of 1.12, a quick ratio of 0.88 and a debt-to-equity ratio of 1.42.

Energy Transfer (NYSE:ET - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The pipeline company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.03. The business had revenue of $21.02 billion during the quarter, compared to analysts' expectations of $22.28 billion. Energy Transfer had a return on equity of 11.56% and a net margin of 5.74%. The firm's revenue for the quarter was down 2.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.32 earnings per share. As a group, research analysts anticipate that Energy Transfer will post 1.46 EPS for the current year.

Hedge Funds Weigh In On Energy Transfer

Institutional investors and hedge funds have recently modified their holdings of the company. Caliber Wealth Management LLC KS acquired a new stake in Energy Transfer in the first quarter valued at $196,000. Assetmark Inc. grew its position in Energy Transfer by 32.6% in the 1st quarter. Assetmark Inc. now owns 11,615 shares of the pipeline company's stock valued at $216,000 after buying an additional 2,855 shares in the last quarter. Navellier & Associates Inc. acquired a new stake in shares of Energy Transfer during the first quarter worth approximately $349,000. Cetera Investment Advisers boosted its holdings in Energy Transfer by 15.2% during the first quarter. Cetera Investment Advisers now owns 1,609,401 shares of the pipeline company's stock valued at $29,919,000 after acquiring an additional 212,564 shares during the period. Finally, Avantax Advisory Services Inc. grew its holdings in shares of Energy Transfer by 4.2% in the 1st quarter. Avantax Advisory Services Inc. now owns 190,415 shares of the pipeline company's stock worth $3,540,000 after purchasing an additional 7,632 shares during the last quarter. Institutional investors and hedge funds own 38.22% of the company's stock.

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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