Energy Transfer (NYSE:ET) Price Target Raised to $25.00 at Wells Fargo & Company

Energy Transfer (NYSE:ET) had its price objective increased by stock analysts at Wells Fargo & Company from $23.00 to $25.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has an “overweight” rating on the pipeline company’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 34.16% from the stock’s previous close.

A number of other brokerages also recently weighed in on ET. Scotiabank reaffirmed an “outperform” rating on shares of Energy Transfer in a research note on Friday, January 16th. Jefferies Financial Group restated a “hold” rating on shares of Energy Transfer in a research note on Wednesday, February 18th. Morgan Stanley raised their price objective on Energy Transfer from $19.00 to $21.00 and gave the company an “equal weight” rating in a research report on Tuesday. Barclays reiterated an “overweight” rating and set a $22.00 price objective (down from $25.00) on shares of Energy Transfer in a research note on Monday, January 12th. Finally, Royal Bank Of Canada raised Energy Transfer to a “moderate buy” rating in a report on Monday, December 15th. Ten analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Energy Transfer presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.60.

Energy Transfer Stock Up 0.4%

Shares of NYSE:ET traded up $0.08 during midday trading on Friday, reaching $18.64. The company’s stock had a trading volume of 1,969,691 shares, compared to its average volume of 15,525,403. The company has a quick ratio of 0.90, a current ratio of 1.22 and a debt-to-equity ratio of 1.50. The firm has a 50 day moving average of $18.09 and a 200-day moving average of $17.29. The firm has a market capitalization of $64.11 billion, a P/E ratio of 15.39, a PEG ratio of 1.02 and a beta of 0.63. Energy Transfer has a 12-month low of $14.60 and a 12-month high of $19.30.

Energy Transfer (NYSE:ET) last issued its quarterly earnings results on Tuesday, February 17th. The pipeline company reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.09). Energy Transfer had a net margin of 5.11% and a return on equity of 10.17%. The business had revenue of $25.32 billion for the quarter, compared to analysts’ expectations of $23.56 billion. During the same period last year, the business earned $0.29 earnings per share. The company’s revenue was up 29.6% on a year-over-year basis. On average, research analysts anticipate that Energy Transfer will post 1.46 earnings per share for the current year.

Hedge Funds Weigh In On Energy Transfer

Hedge funds have recently added to or reduced their stakes in the company. Morgan Stanley lifted its position in Energy Transfer by 41.6% in the 4th quarter. Morgan Stanley now owns 86,310,272 shares of the pipeline company’s stock valued at $1,423,256,000 after acquiring an additional 25,366,594 shares in the last quarter. CIBC Bancorp USA Inc. bought a new stake in shares of Energy Transfer in the 3rd quarter worth $264,309,000. Alps Advisors Inc. raised its stake in shares of Energy Transfer by 8.0% in the fourth quarter. Alps Advisors Inc. now owns 83,843,087 shares of the pipeline company’s stock worth $1,382,573,000 after purchasing an additional 6,192,066 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Energy Transfer by 9.3% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,353,476 shares of the pipeline company’s stock worth $387,139,000 after purchasing an additional 1,825,391 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Energy Transfer by 3.2% during the third quarter. Invesco Ltd. now owns 57,862,666 shares of the pipeline company’s stock valued at $992,923,000 after purchasing an additional 1,773,042 shares in the last quarter. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

About Energy Transfer

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.