Energy Transfer (NYSE:ET) Stock Rating Upgraded by Barclays


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Energy Transfer (NYSE:ET) was upgraded by stock analysts at Barclays from an “equal weight” rating to an “overweight” rating in a research report issued to clients and investors on Tuesday, AR Network reports. The firm presently has a $10.00 price objective on the pipeline company’s stock, up from their previous price objective of $9.00. Barclays‘s price objective points to a potential upside of 38.12% from the stock’s current price.

A number of other analysts have also weighed in on the company. Zacks Investment Research upgraded Energy Transfer from a “sell” rating to a “hold” rating in a report on Thursday, October 22nd. Piper Sandler decreased their price objective on Energy Transfer from $8.00 to $6.00 and set a “neutral” rating for the company in a report on Friday, October 9th. ValuEngine upgraded Energy Transfer from a “strong sell” rating to a “sell” rating in a report on Tuesday, December 1st. Smith Barney Citigroup initiated coverage on Energy Transfer in a report on Thursday, December 3rd. They set an “outperform” rating for the company. Finally, BidaskClub upgraded Energy Transfer from a “sell” rating to a “hold” rating in a report on Saturday, January 9th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $10.00.

Shares of NYSE:ET opened at $7.24 on Tuesday. Energy Transfer has a 52-week low of $3.75 and a 52-week high of $13.70. The stock has a market cap of $19.53 billion, a P/E ratio of -72.40 and a beta of 2.61. The business’s 50 day moving average is $6.59 and its 200 day moving average is $6.25. The company has a quick ratio of 0.73, a current ratio of 1.02 and a debt-to-equity ratio of 1.64.

Energy Transfer (NYSE:ET) last posted its earnings results on Wednesday, November 4th. The pipeline company reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.52). The company had revenue of $9.96 billion for the quarter, compared to analysts’ expectations of $10.08 billion. Energy Transfer had a positive return on equity of 8.23% and a negative net margin of 0.64%. The firm’s quarterly revenue was down 26.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.32 EPS. On average, sell-side analysts anticipate that Energy Transfer will post 0.88 EPS for the current fiscal year.

Large investors have recently bought and sold shares of the company. FMR LLC acquired a new stake in Energy Transfer in the 1st quarter worth about $16,012,000. First Trust Advisors LP acquired a new stake in Energy Transfer in the 1st quarter worth about $4,660,000. Bank of New York Mellon Corp boosted its holdings in Energy Transfer by 10.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 165,906 shares of the pipeline company’s stock worth $1,180,000 after buying an additional 16,129 shares during the last quarter. Marshall Wace LLP acquired a new stake in Energy Transfer in the 2nd quarter worth about $111,000. Finally, Private Advisor Group LLC boosted its holdings in Energy Transfer by 37.8% in the 2nd quarter. Private Advisor Group LLC now owns 247,434 shares of the pipeline company’s stock worth $1,762,000 after buying an additional 67,843 shares during the last quarter. Hedge funds and other institutional investors own 34.68% of the company’s stock.

About Energy Transfer

Energy Transfer LP provides energy-related services. The company owns and operates approximately 9,400 miles of natural gas transportation pipelines and three natural gas storage facilities in Texas; and 12,500 miles of interstate natural gas pipelines. It sells natural gas to electric utilities, independent power plants, local distribution companies, industrial end-users, and other marketing companies.

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Analyst Recommendations for Energy Transfer (NYSE:ET)

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