Energy Transfer (NYSE:ET) Stock Rating Lowered by Zacks Research

Energy Transfer (NYSE:ET) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Tuesday,Zacks.com reports.

A number of other equities research analysts have also weighed in on the company. Royal Bank Of Canada restated an “outperform” rating and set a $23.00 price objective (up from $21.00) on shares of Energy Transfer in a research report on Tuesday, July 21st. Morgan Stanley increased their target price on Energy Transfer from $21.00 to $23.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 27th. Weiss Ratings raised Energy Transfer from a “buy (b)” rating to a “buy (b+)” rating in a research note on Tuesday. JPMorgan Chase & Co. boosted their price target on Energy Transfer from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Tuesday, May 12th. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of Energy Transfer in a research note on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $23.92.

Energy Transfer Stock Performance

Shares of Energy Transfer stock opened at $20.93 on Tuesday. The company’s 50 day moving average price is $19.71 and its two-hundred day moving average price is $19.28. The firm has a market capitalization of $72.07 billion, a P/E ratio of 14.24, a P/E/G ratio of 2.04 and a beta of 0.55. Energy Transfer has a fifty-two week low of $16.18 and a fifty-two week high of $20.96. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.16 and a quick ratio of 0.94.

Energy Transfer (NYSE:ET) last announced its quarterly earnings results on Tuesday, August 4th. The pipeline company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.21. Energy Transfer had a net margin of 4.87% and a return on equity of 11.55%. The company had revenue of $34.33 billion during the quarter, compared to the consensus estimate of $27.71 billion. During the same period in the prior year, the business earned $0.32 earnings per share. The company’s revenue for the quarter was up 78.4% compared to the same quarter last year. On average, equities analysts forecast that Energy Transfer will post 1.52 earnings per share for the current fiscal year.

Insider Activity

In other Energy Transfer news, Director James Richard Perry bought 12,359 shares of the stock in a transaction dated Friday, August 7th. The shares were bought at an average cost of $20.23 per share, for a total transaction of $250,022.57. Following the purchase, the director directly owned 208,046 shares of the company’s stock, valued at approximately $4,208,770.58. This trade represents a 6.32% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.28% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Basepoint Wealth LLC bought a new position in shares of Energy Transfer in the fourth quarter worth $25,000. Gables Capital Management Inc. boosted its stake in shares of Energy Transfer by 60.0% during the fourth quarter. Gables Capital Management Inc. now owns 1,600 shares of the pipeline company’s stock valued at $26,000 after purchasing an additional 600 shares during the period. Sarver Vrooman Wealth Advisors bought a new position in shares of Energy Transfer in the fourth quarter worth approximately $32,000. Cassaday & Co Wealth Management LLC bought a new position in shares of Energy Transfer in the 1st quarter worth about $35,000. Finally, Navalign LLC purchased a new position in Energy Transfer during the 4th quarter valued at about $37,000. 38.22% of the stock is owned by institutional investors.

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.