Citigroup Forecasts Strong Price Appreciation for Energy Transfer (NYSE:ET) Stock

Energy Transfer (NYSE:ET) had its target price boosted by equities researchers at Citigroup from $20.00 to $22.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the pipeline company’s stock. Citigroup’s target price would suggest a potential upside of 16.06% from the company’s previous close.

A number of other equities analysts also recently weighed in on ET. Barclays lifted their target price on shares of Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Stifel Nicolaus lifted their price objective on Energy Transfer from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. The Goldman Sachs Group upped their target price on Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a research report on Thursday, December 19th. Wells Fargo & Company lifted their target price on Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Finally, Royal Bank of Canada boosted their price target on Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $21.55.

Energy Transfer Trading Down 2.2 %

Shares of ET stock opened at $18.96 on Tuesday. The stock has a 50-day moving average of $19.88 and a 200-day moving average of $17.95. The company has a current ratio of 1.12, a quick ratio of 0.88 and a debt-to-equity ratio of 1.42. The stock has a market cap of $65.04 billion, a price-to-earnings ratio of 14.81, a PEG ratio of 0.64 and a beta of 1.69. Energy Transfer has a 1-year low of $14.52 and a 1-year high of $21.45.

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

Institutional Trading of Energy Transfer

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Mountain Hill Investment Partners Corp. bought a new stake in Energy Transfer during the fourth quarter worth $25,000. Princeton Global Asset Management LLC raised its holdings in shares of Energy Transfer by 65.0% in the third quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock valued at $26,000 after purchasing an additional 650 shares during the last quarter. Assetmark Inc. lifted its position in shares of Energy Transfer by 2,138.5% during the third quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock valued at $28,000 after purchasing an additional 1,668 shares in the last quarter. GAMMA Investing LLC purchased a new position in Energy Transfer during the fourth quarter worth about $29,000. Finally, Fourth Dimension Wealth LLC bought a new stake in Energy Transfer in the 4th quarter worth about $29,000. Institutional investors own 38.22% of the company’s stock.

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.