Energy Transfer (NYSE:ET) Stock Price Expected to Rise, Barclays Analyst Says

Energy Transfer (NYSE:ET) had its price objective lifted by Barclays from $18.00 to $22.00 in a research report report published on Friday morning,Benzinga reports. Barclays currently has an overweight rating on the pipeline company’s stock.

Other equities analysts have also issued research reports about the stock. Wells Fargo & Company upped their price target on shares of Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Bank of America started coverage on Energy Transfer in a research report on Thursday, October 17th. They issued a “buy” rating and a $20.00 target price for the company. The Goldman Sachs Group boosted their price target on Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Thursday. Royal Bank of Canada increased their price objective 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. Finally, UBS Group boosted their target price on shares of Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $20.55.

Energy Transfer Stock Performance

Shares of NYSE:ET opened at $18.86 on Friday. The business has a 50-day moving average of $17.80 and a two-hundred day moving average of $16.64. The firm has a market capitalization of $64.58 billion, a PE ratio of 13.87, a P/E/G ratio of 0.63 and a beta of 1.70. 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.

Energy Transfer (NYSE:ET) last posted its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.32 EPS for the quarter, meeting the consensus estimate of $0.32. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The firm had revenue of $20.77 billion for the quarter, compared to analyst estimates of $21.59 billion. During the same quarter last year, the firm posted $0.31 earnings per share. Energy Transfer’s revenue for the quarter was up .2% compared to the same quarter last year. As a group, research analysts forecast that Energy Transfer will post 1.32 earnings per share for the current year.

Energy Transfer Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th were paid a dividend of $0.3225 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.29 dividend on an annualized basis and a yield of 6.84%. Energy Transfer’s dividend payout ratio (DPR) is 94.85%.

Hedge Funds Weigh In On Energy Transfer

A number of hedge funds have recently bought and sold shares of ET. Empowered Funds LLC lifted its holdings in Energy Transfer by 15.0% during the 3rd quarter. Empowered Funds LLC now owns 346,825 shares of the pipeline company’s stock worth $5,567,000 after buying an additional 45,172 shares during the last quarter. Kingsview Wealth Management LLC raised its position in shares of Energy Transfer by 30.9% during the 3rd quarter. Kingsview Wealth Management LLC now owns 242,042 shares of the pipeline company’s stock valued at $3,885,000 after acquiring an additional 57,184 shares in the last quarter. FMR LLC boosted its holdings in Energy Transfer by 44.0% in the third quarter. FMR LLC now owns 33,379,297 shares of the pipeline company’s stock worth $535,738,000 after purchasing an additional 10,195,768 shares during the period. Clear Street Derivatives LLC bought a new stake in Energy Transfer during the third quarter valued at $2,565,000. Finally, GFS Advisors LLC raised its holdings in shares of Energy Transfer by 19,380.5% during the third quarter. GFS Advisors LLC now owns 60,000 shares of the pipeline company’s stock worth $963,000 after purchasing an additional 59,692 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.