Energy Transfer (NYSE:ET) Price Target Raised to $23.00 at Mizuho

Energy Transfer (NYSE:ET - Get Free Report) had its price target lifted by equities researchers at Mizuho from $22.00 to $23.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has an "outperform" rating on the pipeline company's stock. Mizuho's target price points to a potential upside of 26.69% from the stock's previous close.

A number of other analysts also recently issued reports on the company. Morgan Stanley raised their target price on Energy Transfer from $20.00 to $26.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 25th. Stifel Nicolaus raised their target price on Energy Transfer from $21.00 to $23.00 and gave the stock a "buy" rating in a research note on Wednesday, February 12th. JPMorgan Chase & Co. cut their target price on Energy Transfer from $25.00 to $23.00 and set an "overweight" rating for the company in a research note on Monday. Wells Fargo & Company cut their target price on Energy Transfer from $22.00 to $21.00 and set an "overweight" rating for the company in a research note on Wednesday, May 7th. Finally, UBS Group reissued a "buy" rating on shares of Energy Transfer in a research report on Tuesday, March 4th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $22.64.

Energy Transfer Stock Up 0.9%

NYSE ET opened at $18.15 on Tuesday. The business has a fifty day moving average price of $17.47 and a 200 day moving average price of $18.59. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.88 and a current ratio of 1.12. The company has a market cap of $62.29 billion, a P/E ratio of 14.14, a P/E/G ratio of 0.64 and a beta of 0.77. Energy Transfer has a one year low of $14.60 and a one year high of $21.45.

Energy Transfer (NYSE:ET - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The pipeline company reported $0.36 earnings per share for the quarter, beating analysts' consensus estimates of $0.33 by $0.03. The company had revenue of $21.02 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the firm posted $0.32 EPS. Research analysts anticipate that Energy Transfer will post 1.46 EPS for the current fiscal year.

Hedge Funds Weigh In On Energy Transfer

Several institutional investors have recently bought and sold shares of the company. Mountain Hill Investment Partners Corp. purchased a new stake in Energy Transfer during the fourth quarter worth approximately $25,000. Capital A Wealth Management LLC purchased a new stake in Energy Transfer during the fourth quarter worth approximately $26,000. Fourth Dimension Wealth LLC purchased a new stake in Energy Transfer during the fourth quarter worth approximately $29,000. United Community Bank purchased a new stake in Energy Transfer during the fourth quarter worth approximately $35,000. Finally, Vision Financial Markets LLC purchased a new stake in Energy Transfer in the first quarter valued at approximately $33,000. 38.22% of the stock is 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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