Energy Transfer (NYSE:ET) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Energy Transfer (NYSE:ET) had its price objective upped by stock analysts at Morgan Stanley from $21.00 to $23.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the pipeline company’s stock. Morgan Stanley’s target price points to a potential upside of 17.38% from the stock’s current price.

Several other research firms have also recently weighed in on ET. Truist Financial assumed coverage on Energy Transfer in a report on Tuesday, March 24th. They issued a “buy” rating and a $23.00 price objective for the company. 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. Jefferies Financial Group upgraded Energy Transfer from a “hold” rating to a “buy” rating and set a $23.00 price objective for the company in a report on Tuesday. Citigroup reiterated a “buy” rating and issued a $23.00 price objective (up from $22.00) on shares of Energy Transfer in a report on Thursday, May 7th. Finally, Wells Fargo & Company increased their price objective on Energy Transfer from $23.00 to $25.00 and gave the stock an “overweight” rating in a report on Friday, March 13th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Energy Transfer has a consensus rating of “Buy” and an average target price of $23.45.

Energy Transfer Trading Down 0.0%

NYSE ET traded down $0.01 on Wednesday, hitting $19.60. The company’s stock had a trading volume of 4,992,078 shares, compared to its average volume of 15,827,228. Energy Transfer has a 52-week low of $16.18 and a 52-week high of $20.70. The company has a current ratio of 1.17, a quick ratio of 0.93 and a debt-to-equity ratio of 1.50. The company’s 50-day simple moving average is $19.40 and its 200 day simple moving average is $18.12. The firm has a market cap of $67.43 billion, a P/E ratio of 16.34, a PEG ratio of 1.21 and a beta of 0.57.

Energy Transfer (NYSE:ET) last released 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). Energy Transfer had a return on equity of 9.77% and a net margin of 4.66%.The business had revenue of $27.77 billion during the quarter, compared to analysts’ expectations of $25.78 billion. During the same quarter last year, the business posted $0.36 EPS. The company’s quarterly revenue was up 32.1% compared to the same quarter last year. Research analysts predict that Energy Transfer will post 1.37 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Morgan Stanley lifted its stake in shares of 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 purchasing an additional 25,366,594 shares during the period. Alps Advisors Inc. lifted its stake in shares of Energy Transfer by 8.0% in the 4th quarter. Alps Advisors Inc. now owns 83,843,087 shares of the pipeline company’s stock valued at $1,382,573,000 after purchasing an additional 6,192,066 shares during the period. Invesco Ltd. lifted its stake in shares of Energy Transfer by 3.2% in the 3rd 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 during the period. Tortoise Capital Advisors L.L.C. increased its position in Energy Transfer by 0.3% during the 4th quarter. Tortoise Capital Advisors L.L.C. now owns 38,675,828 shares of the pipeline company’s stock valued at $637,764,000 after buying an additional 103,245 shares in the last quarter. Finally, Bank of America Corp DE increased its position in Energy Transfer by 5.7% during the 1st quarter. Bank of America Corp DE now owns 30,956,358 shares of the pipeline company’s stock valued at $597,458,000 after buying an additional 1,656,609 shares in the last quarter. Hedge funds and other institutional investors 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.