Energy Transfer (NYSE:ET) Given New $19.00 Price Target at Morgan Stanley

by · The Cerbat Gem

Energy Transfer (NYSE:ET – Get Free Report) had its price target lowered by equities research analysts at Morgan Stanley from $21.00 to $19.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the pipeline company’s stock. Morgan Stanley’s price objective would suggest a potential upside of 13.53% from the stock’s current price.

A number of other equities analysts have also issued reports on the company. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $23.00 target price (up from $21.00) on shares of Energy Transfer in a research report on Tuesday, August 12th. Weiss Ratings restated a “buy (b)” rating on shares of Energy Transfer in a research report on Wednesday, October 8th. Barclays restated an “overweight” rating and set a $25.00 price target on shares of Energy Transfer in a report on Wednesday, October 15th. UBS Group restated a “buy” rating and set a $22.00 price objective on shares of Energy Transfer in a research report on Wednesday, October 15th. Finally, Scotiabank dropped their price target on shares of Energy Transfer from $23.00 to $21.00 and set a “sector outperform” rating on the stock in a research note on Thursday, November 13th. Thirteen investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $21.62.

Check Out Our Latest Analysis on ET

Energy Transfer Trading Down 0.6%

Energy Transfer stock traded down $0.10 during trading on Tuesday, hitting $16.74. The company’s stock had a trading volume of 6,827,435 shares, compared to its average volume of 14,947,519. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.92 and a current ratio of 1.15. The stock has a market capitalization of $57.46 billion, a price-to-earnings ratio of 12.97, a P/E/G ratio of 1.01 and a beta of 0.65. Energy Transfer has a 1-year low of $14.60 and a 1-year high of $21.45. The stock’s fifty day moving average is $16.79 and its 200 day moving average is $17.37.

Energy Transfer (NYSE:ET – Get Free Report) last announced its quarterly earnings data on Wednesday, November 5th. The pipeline company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.06). Energy Transfer had a net margin of 5.80% and a return on equity of 11.08%. The company had revenue of $19.95 billion for the quarter, compared to analysts’ expectations of $21.84 billion. During the same period in the prior year, the firm earned $0.32 earnings per share. The firm’s quarterly revenue was down 3.9% on a year-over-year basis. As a group, equities research analysts predict that Energy Transfer will post 1.46 EPS for the current year.

Insider Activity at Energy Transfer

In related news, Director Kelcy L. Warren purchased 1,000,000 shares of Energy Transfer stock in a transaction on Wednesday, November 19th. The stock was purchased at an average cost of $16.95 per share, with a total value of $16,950,000.00. Following the acquisition, the director directly owned 104,577,803 shares in the company, valued at approximately $1,772,593,760.85. This trade represents a 0.97% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 3.28% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Chelsea Counsel Co. boosted its stake in shares of Energy Transfer by 370.3% during the 2nd quarter. Chelsea Counsel Co. now owns 94,050 shares of the pipeline company’s stock worth $1,705,000 after buying an additional 74,050 shares during the last quarter. Ariston Services Group boosted its position in Energy Transfer by 126.7% during the second quarter. Ariston Services Group now owns 100,683 shares of the pipeline company’s stock valued at $1,825,000 after purchasing an additional 56,274 shares during the last quarter. Highland Capital Management LLC bought a new position in Energy Transfer in the second quarter valued at approximately $930,000. Focus Partners Wealth grew its stake in Energy Transfer by 11.9% in the first quarter. Focus Partners Wealth now owns 275,698 shares of the pipeline company’s stock valued at $5,125,000 after purchasing an additional 29,404 shares in the last quarter. Finally, Northern Trust Corp increased its position in shares of Energy Transfer by 223.5% during the 1st quarter. Northern Trust Corp now owns 1,069,534 shares of the pipeline company’s stock worth $19,883,000 after purchasing an additional 738,885 shares during the last quarter. 38.22% of the stock is owned by institutional investors.

Energy Transfer Company Profile

(Get Free Report)

Energy Transfer LP provides energy-related services. The company owns and operates natural gas transportation pipeline, and natural gas storage facilities in Texas and Oklahoma; and approximately 20,090 miles of interstate natural gas pipeline. It also sells natural gas to electric utilities, independent power plants, local distribution and other marketing companies, and industrial end-users.

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