Morgan Stanley analysts reportedly increased their price target for Energy Transfer (NYSE: ET) in a research note distributed to clients and investors on Monday, as reported by Benzinga. As a result, the revised price goal is now $18.00. Presently, the brokerage firm considers the shares of the pipeline company to be in an “overweight” position, which was distributed to clients and investors on Monday, as reported by Benzinga. As a result, the revised price goal is now $18.00. Currently, the brokerage firm considers the shares of the pipeline company to be in an “overweight” position. According to the price target that Morgan Stanley established for the stock, the potential for a gain is 45.75 percent higher than the value at which the stock is currently trading.
Additional stock market analysts have also written about the company in their publications at various times. Mizuho raised their target price for Energy Transfer stock from $15.00 to $17.00 and designated the stock as a “buy” in a research note published on Friday, November 4th. The research paper concerning energy transfer was initially published by Citigroup on December 8th, making that the first day of its availability. They recommended investing in the stock, giving it a “buy” rating, and forecasting a price increase to $16.00 over the next month. The stock in question has been recommended for purchase by six market analysts, one of whom gave the stock a rating of “strong buy.” According to Bloomberg.com, the vast majority of industry analysts agree that investors should purchase company shares, and the average price objective they have provided for the stock is $15.83.
NYSE: ET finished the trading day at $12.35, an increase of $0.20 from where it started. Only 234,471 shares of the company’s stock were traded, a significantly lower volume than the stock’s typical trading volume of 9,805,817 shares. The moving average over the past 50 days for the company is $12.06, and the moving average over the past 200 days is $11.51. The company’s market capitalization is currently sitting at $38.14 billion, its price-to-earnings ratio stands at 9.22, and its beta stands at 1.75. The quick ratio is 0.86, the current ratio is 1.08, and the debt-to-equity ratio is 1.37. All of these numbers are presented as a percentage. Each of these figures is expressed as a percentage in this table. The price of energy transfer has hit a low of $8.75 over the past year while reaching a high of $12.95.
Energy Transfer (NYSE: ET) disseminated its most recent quarterly financial report findings on Tuesday, November 1st, marking the beginning of the holiday shopping season. The earnings per share (EPS) that the pipeline company reported for its quarterly report came in at $0.30, consistent with the consensus forecast of $0.30 for that metric. The actual quarterly sales for the company came in at $22.94 billion, which is significantly lower than the estimates of $27.57 billion provided by industry experts. The return on equity for Energy Transfer was 13.01%, while their net margin was 5.02%. During the current fiscal year, sell-side analysts anticipate that Energy Transfer will generate $1.39 per share earnings.
In related news, on December 15th, company director Richard D. Brannon purchased 80,000 shares of the company’s stock. This information is relevant to the discussion we have been having. The shares were acquired at an average price of $11.55, bringing the total cost to $924,000. After the completion of the acquisition, the director will have a total of 580,000 shares of the company. Each share has a market value of approximately $6.699,000, making the director’s total holdings worth approximately $6.699,000. If you click on this link, you will be taken to a document submitted to the Securities and Exchange Commission, where you can obtain additional details regarding the acquisition. Richard D. Brannon, a stockholder of Energy Transfer, made an additional purchase of 80,000 shares of the company’s stock on December 15th, according to some other information regarding Energy Transfer. The average price paid for a share during the transaction was $11.55, bringing the total amount spent on acquiring stocks to $924,000. The director acquired 580,000 shares of the company as a direct result of the transaction, which had a total value of $6,699,000. You will be taken to a document submitted to the SEC if you click the link. Once there, you will be provided with information regarding the purchase. On Tuesday, December 6th, Chief Financial Officer Bradford D. Whitehurst also made an additional purchase of 5,000 shares of company stock. The cost of one share was $12, and the total amount paid for all of the shares came to approximately $60,000 on average. After the completion of the transaction, the chief financial officer now directly owns 1,048,305 shares of the company. Based on the current stock price, these shares have a value of approximately $12,579,660. You should look in this location if you are looking for the disclosure that pertains to this transaction. In the period spanning the most recent three months, company insiders have spent $9,082,900 to purchase 740,000 shares. 3.28 company insiders own a percent of the total shares currently outstanding.
Recently, several institutional investors have modified the distribution of their stock holdings within their portfolios to better align their investments with their investment strategies. Goldman Sachs Group Inc. increased the amount of Energy Transfer stock owned by 3.4% during the second quarter of 2018. Goldman Sachs Group Inc. increased its holdings in the pipeline company by 3,059,360 shares during the most recent fiscal quarter, bringing the total number of shares it owns to 92,975,735 with a market value of $927,898,000. During the second quarter, Natixis achieved a 53.8% increase in the proportion of Energy Transfer stock it owned. Natixis completed the purchase of an additional 12,504,602 pipeline firm stock during the most recent fiscal quarter, bringing the total number of shares the company owns to 35,742,498. The total value of these shares comes to $356,752,000. UBS Group AG’s holdings in Energy Transfer saw a 1.6% increase during the second quarter, which was the company’s most recent reporting period. After purchasing an additional 464,817 shares during the most recent fiscal quarter, UBS Group AG now has 29,593,781 pipeline company shares, valued at $295,346,000. This brings the total number of shares owned by the company to 29.593.781. During the third quarter, Kayne Anderson Capital Advisors LP made a 3.1% purchase of additional Energy Transfer stock, bringing the total percentage of that company’s shares it owned to 100%. Kayne Anderson Capital Advisors LP now holds 26,135,883 shares of the pipeline company’s stock, which are currently valued at $288,278,000 following the acquisition of an additional 777,200 shares during the most recent quarter. And finally, during the third quarter, Energy Income Partners LLC increased the amount of Energy Transfer stock it owns by 8.3%, bringing the total percentage of Energy Transfer stock it owns to 100%. Energy Income Partners LLC now holds 25,529,480 of the pipeline company’s stock, with a value of $281,590,000. This is after the company acquired an additional 1,951,059 shares during the most recent quarter. The combined holdings of hedge funds and other institutional investors constitute 37.81% of the company’s total number of outstanding shares.
Energy Transfer LP is the name of a business that functions in the energy market and offers various services to its customers. In addition, the company owns and manages 11,600 miles of natural gas transportation pipeline, three natural gas storage facilities in the state of Texas, and two natural gas storage facilities in the state of Texas and the state of Oklahoma. In addition to the 19,830 miles of the interstate natural gas pipeline the company owns and manages, this new pipeline will extend across the country.
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