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

Energy Transfer (NYSE:ET) had its price objective lifted by analysts at Morgan Stanley from $20.00 to $26.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the pipeline company’s stock. Morgan Stanley’s price target indicates a potential upside of 37.33% from the stock’s previous close.

Other research analysts have also recently issued reports about the company. UBS Group reissued a “buy” rating on shares of Energy Transfer in a research note on Tuesday, March 4th. Barclays lifted their price objective on Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Citigroup reissued a “buy” rating on shares of Energy Transfer in a research note on Monday. Royal Bank of Canada raised their target price on shares of Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Finally, The Goldman Sachs Group upped their price target on shares of Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a report on Thursday, December 19th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.09.

Energy Transfer Stock Up 0.3 %

NYSE:ET opened at $18.93 on Tuesday. The firm has a market capitalization of $64.96 billion, a P/E ratio of 14.79, a P/E/G ratio of 0.64 and a beta of 1.72. The stock’s fifty day simple moving average is $19.52 and its 200-day simple moving average is $18.33. The company has a quick ratio of 0.88, a current ratio of 1.12 and a debt-to-equity ratio of 1.42. Energy Transfer has a 12-month low of $14.90 and a 12-month high of $21.45.

Energy Transfer (NYSE:ET) last posted its earnings results on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.06). Energy Transfer had a return on equity of 11.56% and a net margin of 5.74%. Equities research analysts expect that Energy Transfer will post 1.46 earnings per share for the current year.

Hedge Funds Weigh In On Energy Transfer

Institutional investors have recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans raised its stake in Energy Transfer by 57.0% in the 3rd quarter. Thrivent Financial for Lutherans now owns 21,671 shares of the pipeline company’s stock valued at $348,000 after acquiring an additional 7,870 shares during the period. Cerity Partners LLC raised its position in Energy Transfer by 29.1% during the third quarter. Cerity Partners LLC now owns 242,531 shares of the pipeline company’s stock valued at $3,893,000 after purchasing an additional 54,611 shares in the last quarter. Brown Brothers Harriman & Co. boosted its holdings in shares of Energy Transfer by 111.9% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 67,401 shares of the pipeline company’s stock valued at $1,082,000 after purchasing an additional 35,595 shares in the last quarter. Private Trust Co. NA increased its stake in shares of Energy Transfer by 19.7% in the 3rd quarter. Private Trust Co. NA now owns 24,213 shares of the pipeline company’s stock valued at $389,000 after purchasing an additional 3,983 shares during the last quarter. Finally, FMR LLC raised its stake in Energy Transfer by 44.0% during the third quarter. FMR LLC now owns 33,379,297 shares of the pipeline company’s stock worth $535,738,000 after acquiring an additional 10,195,768 shares in the last quarter. 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.