Energy Transfer (TXSE:ET) Stock Price Target Cut by Scotiabank

Energy Transfer (TXSE:ET) had its price objective cut by Scotiabank from $24.00 to $23.00 in a report issued on Tuesday, Benzinga reports. The brokerage presently has a “sector outperform” rating on the pipeline company’s stock. Scotiabank‘s price target points to a potential upside of 19.64% from the stock’s current price.

A number of other research firms have also recently commented on ET. Stifel Nicolaus initiated coverage on shares of Energy Transfer in a report on Thursday, September 10th. They issued a “buy” rating and a $25.00 target price for the company. Mizuho set a $26.00 price target on Energy Transfer in a research note on Tuesday, October 13th. Weiss Ratings raised shares of Energy Transfer from a “buy (b)” rating to a “buy (a-)” rating in a research note on Tuesday, September 8th. Jefferies Financial Group reissued a “buy” rating and issued a $25.00 price target on shares of Energy Transfer in a research note on Wednesday, November 4th. Finally, TD Cowen reissued a “buy” rating and set a $25.00 price objective (up from $24.00) on shares of Energy Transfer in a research report on Monday, August 10th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Energy Transfer presently has a consensus rating of “Moderate Buy” and an average target price of $24.73.

Energy Transfer Price Performance

Shares of TXSE:ET traded up $0.14 during trading on Tuesday, reaching $19.23. 1,366,536 shares of the company traded hands, compared to its average volume of 12,072,639. The firm has a market capitalization of $66.20 billion, a PE ratio of 13.11, a PEG ratio of 0.73 and a beta of 0.62. The company’s 50 day moving average is $20.56 and its two-hundred day moving average is $19.71. Energy Transfer has a 52 week low of $16.18 and a 52 week high of $21.84. The company has a quick ratio of 0.94, a current ratio of 1.16 and a debt-to-equity ratio of 1.45.

Energy Transfer (TXSE:ET) last posted its quarterly earnings data on Tuesday, November 3rd. The pipeline company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.07). Energy Transfer had a return on equity of 11.55% and a net margin of 4.87%. The firm had revenue of $37.10 billion for the quarter, compared to the consensus estimate of $30.98 billion. During the same period in the prior year, the company earned $0.28 EPS. As a group, sell-side analysts predict that Energy Transfer will post 1.73 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Kelcy Warren bought 647,968 shares of the company’s stock in a transaction on Wednesday, August 19th. The shares were purchased at an average price of $21.26 per share, with a total value of $13,775,799.68. Following the transaction, the director directly owned 147,901,879 shares in the company, valued at $3,144,393,947.54. This represents a 0.44% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 3.28% of the company’s stock.

Institutional Investors Weigh In On Energy Transfer

Several large investors have recently made changes to their positions in the business. Osbon Capital Management LLC bought a new position in shares of Energy Transfer during the 2nd quarter worth $25,000. Sawyer & Company Inc bought a new position in Energy Transfer in the 3rd quarter valued at $30,000. Cassaday & Co Wealth Management LLC bought a new stake in Energy Transfer during the first quarter valued at $35,000. Pinpoint Asset Management Singapore Pte. Ltd. bought a new stake in shares of Energy Transfer during the 2nd quarter valued at about $42,000. Finally, Bullseye Investment Management LLC bought a new stake in Energy Transfer during the second quarter valued at approximately $42,000. 38.22% of the stock is owned by hedge funds and other institutional investors.

Energy Transfer Company Profile

Energy Transfer LP is a diversified energy infrastructure company headquartered in Dallas, Texas. The partnership owns and operates a broad network of pipelines, processing facilities, storage assets and terminals that support the movement of natural gas, natural gas liquids, crude oil and refined products across the United States.

The company’s operations include gathering and processing natural gas, transporting and storing natural gas and NGLs, fractionating NGLs into component products, and transporting crude oil and refined products.