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

Energy Transfer (NYSE:ET - Free Report) had its target price hoisted by Wells Fargo & Company from $20.00 to $21.00 in a report released on Wednesday morning,Benzinga reports. They currently have an overweight rating on the pipeline company's stock.

Other research analysts have also issued research reports about the company. UBS Group upped their price target on Energy Transfer from $22.00 to $23.00 and gave the company a "buy" rating in a research report on Wednesday, September 18th. Bank of America started coverage on shares of Energy Transfer in a report on Thursday, October 17th. They issued a "buy" rating and a $20.00 price target on the stock. Finally, Royal Bank of Canada boosted their price target on shares of Energy Transfer from $20.00 to $23.00 and gave the company an "outperform" rating in a research report on Monday, December 9th. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Energy Transfer presently has an average rating of "Buy" and a consensus price target of $20.44.

Energy Transfer Price Performance

Energy Transfer stock traded down $0.44 during mid-day trading on Wednesday, reaching $18.20. 13,872,729 shares of the company were exchanged, compared to its average volume of 13,730,203. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.08 and a quick ratio of 0.88. Energy Transfer has a 12 month low of $13.60 and a 12 month high of $20.02. The firm has a market cap of $62.32 billion, a PE ratio of 13.38, a PEG ratio of 0.63 and a beta of 1.70. The company has a fifty day simple moving average of $17.68 and a 200-day simple moving average of $16.59.

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

Energy Transfer Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Friday, November 8th were issued a $0.3225 dividend. This represents a $1.29 dividend on an annualized basis and a dividend yield of 7.09%. The ex-dividend date of this dividend was Friday, November 8th. Energy Transfer's payout ratio is 94.85%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ET. Princeton Global Asset Management LLC raised its stake in Energy Transfer by 65.0% during the 3rd quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company's stock worth $26,000 after acquiring an additional 650 shares during the period. Assetmark Inc. lifted its stake in shares of Energy Transfer by 2,138.5% during the 3rd quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company's stock valued at $28,000 after buying an additional 1,668 shares in the last quarter. HWG Holdings LP bought a new position in Energy Transfer in the 2nd quarter worth $33,000. Continuum Advisory LLC increased its stake in Energy Transfer by 44.8% in the 3rd quarter. Continuum Advisory LLC now owns 2,357 shares of the pipeline company's stock worth $40,000 after buying an additional 729 shares in the last quarter. Finally, Sugarloaf Wealth Management LLC raised its holdings in Energy Transfer by 43.6% during the third quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company's stock valued at $40,000 after acquiring an additional 750 shares during the period. 38.22% of the stock is currently owned by institutional investors.

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.