Energy Transfer (NYSE:ET) Price Target Raised to $22.00

Energy Transfer (NYSE:ET - Get Free Report) had its target price increased by analysts at Barclays from $18.00 to $22.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has an "overweight" rating on the pipeline company's stock. Barclays's target price would indicate a potential upside of 16.65% from the stock's previous close.

Several other analysts also recently issued reports on the stock. Royal Bank of Canada raised their price objective on shares of Energy Transfer from $20.00 to $23.00 and gave the stock an "outperform" rating in a research note on Monday, December 9th. Bank of America assumed coverage on Energy Transfer in a research note on Thursday, October 17th. They set a "buy" rating and a $20.00 price target for the company. UBS Group increased their target price on Energy Transfer from $22.00 to $23.00 and gave the stock a "buy" rating in a research note on Wednesday, September 18th. The Goldman Sachs Group raised their price target on shares of Energy Transfer from $17.00 to $20.00 and gave the stock a "neutral" rating in a research note on Thursday. Finally, Wells Fargo & Company boosted their price target on Energy Transfer from $20.00 to $21.00 and gave the company an "overweight" rating in a report on Wednesday. One investment 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, the company presently has an average rating of "Moderate Buy" and a consensus target price of $20.55.

Energy Transfer Stock Performance

Shares of Energy Transfer stock traded up $0.59 during trading hours on Friday, reaching $18.86. 23,234,305 shares of the stock traded hands, compared to its average volume of 13,773,204. Energy Transfer has a one year low of $13.60 and a one year high of $20.02. The firm has a market capitalization of $64.58 billion, a price-to-earnings ratio of 13.87, a P/E/G ratio of 0.63 and a beta of 1.70. The company has a quick ratio of 0.88, a current ratio of 1.08 and a debt-to-equity ratio of 1.40. The company has a 50 day moving average price of $17.80 and a 200 day moving average price of $16.63.

Energy Transfer (NYSE:ET - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 EPS for the quarter, hitting the consensus estimate of $0.32. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The firm had revenue of $20.77 billion for the quarter, compared to the consensus estimate of $21.59 billion. During the same quarter last year, the company earned $0.31 earnings per share. The business's revenue for the quarter was up .2% compared to the same quarter last year. On average, equities research analysts expect that Energy Transfer will post 1.32 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. FFG Partners LLC raised its stake in shares of Energy Transfer by 3.3% in the 3rd quarter. FFG Partners LLC now owns 1,636,626 shares of the pipeline company's stock valued at $26,268,000 after acquiring an additional 52,302 shares during the period. Fidelity D & D Bancorp Inc. acquired a new stake in Energy Transfer in the 3rd quarter valued at $1,207,000. Peapack Gladstone Financial Corp raised its position in Energy Transfer by 6.8% in the third quarter. Peapack Gladstone Financial Corp now owns 15,675 shares of the pipeline company's stock valued at $251,000 after purchasing an additional 1,000 shares during the period. Synovus Financial Corp lifted its stake in shares of Energy Transfer by 69.8% during the third quarter. Synovus Financial Corp now owns 84,530 shares of the pipeline company's stock worth $1,357,000 after purchasing an additional 34,749 shares in the last quarter. Finally, Tidal Investments LLC boosted its position in shares of Energy Transfer by 1.2% in the third quarter. Tidal Investments LLC now owns 101,738 shares of the pipeline company's stock worth $1,633,000 after buying an additional 1,248 shares during the period. 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.