Energy Transfer (NYSE:ET) Raised to “Strong-Buy” at Zacks Research

Energy Transfer (NYSE:ET) was upgraded by investment analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Monday,Zacks.com reports.

ET has been the topic of several other research reports. Scotiabank reaffirmed an “outperform” rating on shares of Energy Transfer in a research note on Tuesday, May 12th. Jefferies Financial Group upgraded shares of Energy Transfer from a “hold” rating to a “buy” rating and set a $23.00 price objective on the stock in a report on Tuesday, May 26th. Barclays reissued an “overweight” rating and issued a $23.00 target price (up from $22.00) on shares of Energy Transfer in a research report on Thursday, May 14th. TD Cowen reiterated a “buy” rating and issued a $23.00 price objective (up from $22.00) on shares of Energy Transfer in a report on Wednesday, May 13th. Finally, Raymond James Financial restated a “strong-buy” rating on shares of Energy Transfer in a report on Wednesday, May 6th. Three investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $23.45.

Energy Transfer Stock Down 0.5%

ET stock opened at $20.07 on Monday. The firm has a market cap of $69.08 billion, a PE ratio of 16.73, a PEG ratio of 1.17 and a beta of 0.55. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.93 and a current ratio of 1.17. The firm’s 50 day moving average price is $19.49 and its 200-day moving average price is $18.78. Energy Transfer has a one year low of $16.18 and a one year high of $20.70.

Energy Transfer (NYSE:ET) last issued its quarterly earnings data on Tuesday, May 5th. The pipeline company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.05). The business had revenue of $27.77 billion during the quarter, compared to analysts’ expectations of $25.78 billion. Energy Transfer had a return on equity of 9.77% and a net margin of 4.66%.The company’s revenue was up 32.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.36 earnings per share. On average, equities research analysts anticipate that Energy Transfer will post 1.43 EPS for the current year.

Institutional Trading of Energy Transfer

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Basepoint Wealth LLC purchased a new stake in Energy Transfer during the fourth quarter worth $25,000. Gables Capital Management Inc. raised its stake in shares of Energy Transfer by 60.0% during the 4th quarter. Gables Capital Management Inc. now owns 1,600 shares of the pipeline company’s stock worth $26,000 after buying an additional 600 shares during the last quarter. Sarver Vrooman Wealth Advisors acquired a new position in shares of Energy Transfer during the 4th quarter worth $32,000. Cassaday & Co Wealth Management LLC purchased a new stake in shares of Energy Transfer in the 1st quarter worth about $35,000. Finally, Navalign LLC purchased a new stake in shares of Energy Transfer in the 4th quarter worth about $37,000. Institutional investors and hedge funds own 38.22% of the company’s stock.

Energy Transfer Company Profile

Energy Transfer (NYSE: ET) is a Dallas-based midstream energy company that develops and operates infrastructure for the transportation, storage and processing of hydrocarbons. The company’s operations focus on moving and storing natural gas, natural gas liquids (NGLs), crude oil and refined products through an integrated network of pipelines, terminals, storage facilities and processing plants. Energy Transfer provides core midstream services such as gathering, compression, fractionation, processing, and bulk transportation to support production and downstream supply chains.

Its asset base spans an extensive network across the United States, connecting producing regions, processing centers, petrochemical hubs and coastal and inland markets.