Energy Transfer (NYSE:ET) Earns Overweight Rating from Analysts at Capital One Financial

Research analysts at Capital One Financial started coverage on shares of Energy Transfer (NYSE:ET) in a research report issued on Tuesday, Briefing.com reports. The brokerage set an “overweight” rating and a $26.00 price target on the pipeline company’s stock. Capital One Financial‘s target price would suggest a potential upside of 24.40% from the stock’s previous close.

A number of other equities analysts have also recently commented on the company. JPMorgan Chase & Co. lifted their target price on Energy Transfer from $24.00 to $25.00 and gave the stock an “overweight” rating in a report on Friday, September 4th. Morgan Stanley increased their price target on Energy Transfer from $23.00 to $25.00 and gave the company an “equal weight” rating in a report on Tuesday, August 18th. Melius Research initiated coverage on shares of Energy Transfer in a research note on Tuesday. They set a “hold” rating and a $25.00 price objective for the company. TD Cowen reiterated 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. Finally, Wall Street Zen raised shares of Energy Transfer from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Energy Transfer has a consensus rating of “Moderate Buy” and a consensus price target of $24.36.

Energy Transfer Stock Down 1.1%

Shares of NYSE:ET opened at $20.90 on Tuesday. The company has a market cap of $71.96 billion, a price-to-earnings ratio of 14.22, a PEG ratio of 0.70 and a beta of 0.57. Energy Transfer has a 12 month low of $16.18 and a 12 month high of $21.84. The company has a current ratio of 1.16, a quick ratio of 0.94 and a debt-to-equity ratio of 1.45. The company has a 50-day moving average price of $20.87 and a 200 day moving average price of $19.84.

Energy Transfer (NYSE:ET) last issued its quarterly earnings data on Tuesday, August 4th. The pipeline company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.21. Energy Transfer had a return on equity of 11.55% and a net margin of 4.87%.The company had revenue of $34.33 billion for the quarter, compared to analysts’ expectations of $27.71 billion. During the same period in the previous year, the firm posted $0.32 earnings per share. The firm’s revenue for the quarter was up 78.4% on a year-over-year basis. As a group, equities research analysts predict that Energy Transfer will post 1.74 earnings per share for the current year.

Insider Transactions at Energy Transfer

In related news, Director Kelcy L. Warren acquired 647,968 shares of the firm’s stock in a transaction that occurred on Wednesday, August 19th. The stock was bought at an average price of $21.26 per share, for a total transaction of $13,775,799.68. Following the acquisition, the director directly owned 147,901,879 shares of the company’s stock, valued at $3,144,393,947.54. This represents a 0.44% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director James Perry acquired 12,359 shares of the stock in a transaction on Friday, August 7th. The stock was bought at an average cost of $20.23 per share, with a total value of $250,022.57. Following the completion of the transaction, the director owned 208,046 shares in the company, valued at $4,208,770.58. This trade represents a 6.32% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders bought 1,012,359 shares of company stock worth $21,513,543. Company insiders own 3.28% of the company’s stock.

Institutional Trading of Energy Transfer

Several institutional investors and hedge funds have recently modified their holdings of ET. Basepoint Wealth LLC purchased a new stake in shares of Energy Transfer in the fourth quarter valued at approximately $25,000. Osbon Capital Management LLC purchased a new position in Energy Transfer during the 2nd quarter worth $25,000. Sarver Vrooman Wealth Advisors purchased a new position in Energy Transfer during the 4th quarter worth $32,000. Cassaday & Co Wealth Management LLC bought a new stake in Energy Transfer during the 1st quarter valued at $35,000. Finally, Vermillion Wealth Management Inc. lifted its holdings in shares of Energy Transfer by 69.5% in the 4th quarter. Vermillion Wealth Management Inc. now owns 2,351 shares of the pipeline company’s stock worth $39,000 after buying an additional 964 shares during the period. Institutional investors own 38.22% of the company’s stock.

About Energy Transfer

Energy Transfer LP (NYSE: ET) is a diversified midstream energy partnership that owns and operates infrastructure used to transport, store, process and market energy commodities. Its assets support the movement of natural gas, crude oil, natural gas liquids (NGLs), refined products and other hydrocarbon-based materials.

The company’s operations include natural gas gathering and processing, interstate and intrastate pipeline transportation, NGL fractionation and storage, crude oil and refined products transportation, and terminal services.