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

Key Points

• Energy Transfer's stock received a "Buy (B)" rating from Weiss Ratings, indicating positive confidence in the company's future performance.
• Analysts have varied price targets for Energy Transfer, with recent upgrades suggesting a target price ranging from $22.00 to $25.00 from firms like Wells Fargo and Barclays.
• Institutional investors currently own 38.22% of Energy Transfer's stock, highlighting significant institutional interest and potential investment stability.

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

Other equities analysts have also issued research reports about the company. 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. TD Cowen started coverage on Energy Transfer in a report on Monday, July 7th. They issued a "buy" rating and a $22.00 price objective on the stock. Barclays reaffirmed an "overweight" rating and issued a $25.00 price objective on shares of Energy Transfer in a report on Wednesday, October 15th. Scotiabank initiated coverage on Energy Transfer in a research note on Tuesday, September 2nd. They set a "sector outperform" rating and a $23.00 price target on the stock. Finally, Morgan Stanley decreased their price target on Energy Transfer from $24.00 to $23.00 and set an "overweight" rating on the stock in a research note on Tuesday, August 26th. Thirteen investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, Energy Transfer presently has a consensus rating of "Moderate Buy" and an average price target of $22.67.

Energy Transfer Stock Performance

Shares of ET stock opened at $16.74 on Friday. 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 1 year low of $14.60 and a 1 year high of $21.45. The stock's 50-day moving average is $17.18 and its two-hundred day moving average is $17.39. The firm has a market cap of $57.45 billion, a price-to-earnings ratio of 12.97, a PEG ratio of 1.00 and a beta of 0.78.

Energy Transfer (NYSE:ET - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.32. Energy Transfer had a return on equity of 11.08% and a net margin of 5.80%.The firm 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 revenue was down 7.2% on a year-over-year basis. Analysts predict that Energy Transfer will post 1.46 earnings per share for the current year.

Insiders Place Their Bets

In other Energy Transfer news, Director Kelcy L. Warren purchased 1,350,000 shares of the business's stock in a transaction on Wednesday, August 20th. The stock was bought at an average cost of $17.36 per share, for a total transaction of $23,436,000.00. Following the acquisition, the director owned 69,178,477 shares of the company's stock, valued at approximately $1,200,938,360.72. The trade was a 1.99% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 3.28% of the company's stock.

Institutional Trading of Energy Transfer

Institutional investors and hedge funds have recently made changes to their positions in the company. Ryan Investment Management Inc. acquired a new stake in shares of Energy Transfer during the 2nd quarter worth $31,000. Vision Financial Markets LLC acquired a new stake in shares of Energy Transfer during the 1st quarter worth $33,000. CNB Bank increased its holdings in shares of Energy Transfer by 111.1% during the 2nd quarter. CNB Bank now owns 1,900 shares of the pipeline company's stock worth $34,000 after buying an additional 1,000 shares during the last quarter. Stone House Investment Management LLC purchased a new stake in Energy Transfer during the 1st quarter worth $38,000. Finally, N.E.W. Advisory Services LLC purchased a new stake in Energy Transfer during the 1st quarter worth $40,000. 38.22% of the stock is currently 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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