Energy Transfer (NYSE:ET) Price Target Raised to $10.00 at Raymond James


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Energy Transfer (NYSE:ET) had its price objective hoisted by Raymond James from $9.00 to $10.00 in a research report released on Wednesday morning, Benzinga reports. Raymond James currently has a strong-buy rating on the pipeline company’s stock.

ET has been the subject of a number of other research reports. Credit Suisse Group raised their target price on Energy Transfer from $10.00 to $11.00 and gave the company an outperform rating in a research note on Monday, March 8th. UBS Group lifted their price objective on Energy Transfer from $15.00 to $16.00 and gave the company a buy rating in a research note on Thursday, February 25th. Barclays upgraded Energy Transfer from an equal weight rating to an overweight rating and lifted their price objective for the company from $9.00 to $10.00 in a research note on Tuesday, January 12th. Piper Sandler upgraded Energy Transfer from a neutral rating to an overweight rating and lifted their price objective for the company from $7.00 to $9.00 in a research note on Monday, March 1st. Finally, Zacks Investment Research upgraded Energy Transfer from a sell rating to a hold rating in a research note on Tuesday, March 23rd. Three equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average target price of $10.52.

NYSE ET opened at $8.19 on Wednesday. Energy Transfer has a fifty-two week low of $4.98 and a fifty-two week high of $9.55. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.73 and a current ratio of 1.02. The stock has a 50 day simple moving average of $8.00 and a two-hundred day simple moving average of $6.80. The stock has a market cap of $22.13 billion, a P/E ratio of -79.80 and a beta of 2.54.

Energy Transfer (NYSE:ET) last released its quarterly earnings data on Tuesday, February 16th. The pipeline company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.07). The business had revenue of $10.03 billion during the quarter, compared to analysts’ expectations of $10.33 billion. Energy Transfer had a positive return on equity of 8.23% and a negative net margin of 0.64%. Sell-side analysts predict that Energy Transfer will post 0.88 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, February 19th. Investors of record on Monday, February 8th were given a dividend of $0.1525 per share. The ex-dividend date of this dividend was Friday, February 5th. This represents a $0.61 annualized dividend and a yield of 7.45%. Energy Transfer’s dividend payout ratio (DPR) is presently 42.07%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ET. Morgan Stanley lifted its position in Energy Transfer by 29.3% during the fourth quarter. Morgan Stanley now owns 34,769,242 shares of the pipeline company’s stock valued at $214,874,000 after purchasing an additional 7,869,487 shares in the last quarter. Chickasaw Capital Management LLC lifted its position in shares of Energy Transfer by 10.2% in the first quarter. Chickasaw Capital Management LLC now owns 26,072,781 shares of the pipeline company’s stock valued at $200,239,000 after acquiring an additional 2,420,309 shares in the last quarter. Jennison Associates LLC lifted its position in shares of Energy Transfer by 103.7% in the fourth quarter. Jennison Associates LLC now owns 3,073,867 shares of the pipeline company’s stock valued at $18,996,000 after acquiring an additional 1,564,920 shares in the last quarter. FMR LLC purchased a new position in shares of Energy Transfer in the first quarter valued at about $16,012,000. Finally, Childress Capital Advisors LLC purchased a new position in shares of Energy Transfer in the fourth quarter valued at about $6,195,000. Institutional investors own 36.42% 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 12,340 miles of interstate natural gas pipelines. It also sells natural gas to electric utilities, independent power plants, local distribution companies, industrial end-users, and other marketing companies.

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