Energy Transfer (NYSE:ET) Given New $26.00 Price Target at Morgan Stanley

Energy Transfer (NYSE:ET - Get Free Report) had its price objective upped by equities research analysts at Morgan Stanley from $20.00 to $26.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has an "overweight" rating on the pipeline company's stock. Morgan Stanley's target price would indicate a potential upside of 38.93% from the stock's current price.

Several other research analysts have also issued reports on ET. Wells Fargo & Company raised their target price on shares of Energy Transfer from $20.00 to $21.00 and gave the company an "overweight" rating in a research note on Wednesday, December 18th. The Goldman Sachs Group raised their price objective on shares of Energy Transfer from $17.00 to $20.00 and gave the company a "neutral" rating in a research note on Thursday, December 19th. Citigroup reiterated a "buy" rating on shares of Energy Transfer in a research report on Monday, March 24th. Barclays raised their price target on Energy Transfer from $22.00 to $25.00 and gave the stock an "overweight" rating in a research report on Monday, January 13th. Finally, UBS Group reiterated a "buy" rating on shares of Energy Transfer in a 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 MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $22.09.

Energy Transfer Trading Down 0.9 %

ET stock traded down $0.17 during trading on Tuesday, hitting $18.72. The company had a trading volume of 10,718,461 shares, compared to its average volume of 14,589,445. The stock has a market cap of $64.22 billion, a price-to-earnings ratio of 14.62, a PEG ratio of 0.64 and a beta of 1.72. The company has a quick ratio of 0.88, a current ratio of 1.12 and a debt-to-equity ratio of 1.42. The firm has a 50-day moving average price of $19.46 and a 200-day moving average price of $18.37. Energy Transfer has a 12 month low of $14.90 and a 12 month high of $21.45.

Energy Transfer (NYSE:ET - Get Free Report) last issued its quarterly earnings results on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.06). Energy Transfer had a net margin of 5.74% and a return on equity of 11.56%. As a group, analysts predict that Energy Transfer will post 1.46 earnings per share for the current year.

Hedge Funds Weigh In On Energy Transfer

Institutional investors and hedge funds have recently modified their holdings of the business. Mountain Hill Investment Partners Corp. bought a new position in Energy Transfer during the 4th quarter worth about $25,000. Capital A Wealth Management LLC bought a new position in shares of Energy Transfer during the fourth quarter worth about $26,000. GAMMA Investing LLC bought a new position in shares of Energy Transfer during the fourth quarter worth about $29,000. Fourth Dimension Wealth LLC bought a new stake in Energy Transfer in the 4th quarter valued at approximately $29,000. Finally, United Community Bank bought a new stake in Energy Transfer in the 4th quarter valued at approximately $35,000. 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.