Energy Transfer's (ET) Buy (B) Rating Reiterated at Weiss Ratings

Key Points

• Energy Transfer's stock received a reiterated "buy" rating from Weiss Ratings, reflecting analyst confidence in its future performance.
• Several investment firms have recently set price targets for Energy Transfer, with TD Cowen forecasting a price of $22.00 and Wells Fargo raising its target to $23.00.
• Energy Transfer reported a net margin of 5.80% and quarterly revenue of $19.24 billion, which was lower than analysts' estimates of $24.07 billion.

Energy Transfer (NYSE:ET - Get Free Report)'s stock had its "buy (b)" rating reiterated by Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

Other equities analysts have also issued research reports about the company. TD Cowen began coverage on Energy Transfer in a report on Monday, July 7th. They set a "buy" rating and a $22.00 price target on the stock. Wells Fargo & Company reissued 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. Cowen began coverage on Energy Transfer in a report on Monday, July 7th. They set a "buy" rating on the stock. Morgan Stanley lowered their price target on Energy Transfer from $24.00 to $23.00 and set an "overweight" rating on the stock in a report on Tuesday, August 26th. Finally, Scotiabank started coverage on shares of Energy Transfer in a research report on Tuesday, September 2nd. They issued a "sector outperform" rating and a $23.00 price objective for the company. Fourteen investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $22.50.

Energy Transfer Stock Performance

Shares of ET stock traded up $0.03 during mid-day trading on Wednesday, hitting $16.70. 20,859,571 shares of the stock were exchanged, compared to its average volume of 12,090,979. The stock's fifty day simple moving average is $17.39 and its two-hundred day simple moving average is $17.50. The stock has a market capitalization of $57.33 billion, a price-to-earnings ratio of 12.95, a P/E/G ratio of 0.98 and a beta of 0.78. Energy Transfer has a 12-month low of $14.60 and a 12-month high of $21.45. 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 (NYSE:ET - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.32. Energy Transfer had a return on equity of 11.08% and a net margin of 5.80%.The company had revenue of $19.24 billion for the quarter, compared to analyst estimates of $24.07 billion. During the same quarter last year, the company posted $0.35 earnings per share. The business's quarterly revenue was down 7.2% compared to the same quarter last year. On average, analysts forecast that Energy Transfer will post 1.46 EPS for the current year.

Insider Activity

In related news, Director Kelcy L. Warren bought 1,350,000 shares of the business's stock in a transaction dated Wednesday, August 20th. The shares were acquired at an average price of $17.36 per share, for a total transaction of $23,436,000.00. Following the purchase, the director owned 69,178,477 shares in the company, valued at $1,200,938,360.72. This trade represents a 1.99% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 3.28% of the company's stock.

Institutional Investors Weigh In On Energy Transfer

Institutional investors and hedge funds have recently bought and sold shares of the business. Chelsea Counsel Co. raised its stake in Energy Transfer by 370.3% during the second quarter. Chelsea Counsel Co. now owns 94,050 shares of the pipeline company's stock worth $1,705,000 after acquiring an additional 74,050 shares during the period. Prevail Innovative Wealth Advisors LLC increased its stake in shares of Energy Transfer by 316.9% in the first quarter. Prevail Innovative Wealth Advisors LLC now owns 117,312 shares of the pipeline company's stock valued at $2,181,000 after purchasing an additional 89,173 shares during the period. Northern Trust Corp increased its stake in shares of Energy Transfer by 223.5% in the first quarter. Northern Trust Corp now owns 1,069,534 shares of the pipeline company's stock valued at $19,883,000 after purchasing an additional 738,885 shares during the period. Highland Capital Management LLC acquired a new stake in shares of Energy Transfer in the second quarter valued at approximately $930,000. Finally, Appaloosa LP increased its stake in shares of Energy Transfer by 0.9% in the first quarter. Appaloosa LP now owns 4,957,235 shares of the pipeline company's stock valued at $92,155,000 after purchasing an additional 42,500 shares during the period. Institutional investors and hedge funds own 38.22% of the company's stock.

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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