Mizuho Securities analyst Gabe Moreen maintained a Buy rating on Energy Transfer (ET – Research Report) on September 7 and set a price target of $15.00. The company’s shares closed last Friday at $11.91.
According to TipRanks, Moreen is a 4-star analyst with an average return of 6.3% and a 71.57% success rate. Moreen covers the Industrial Goods sector, focusing on stocks such as Dcp Midstream Partners, Energy Transfer, and Oneok.
Currently, the analyst consensus on Energy Transfer is a Strong Buy with an average price target of $15.25, which is a 28.04% upside from current levels. In a report released on September 2, J.P. Morgan also maintained a Buy rating on the stock with a $16.00 price target.
Based on Energy Transfer’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $25.95 billion and a net profit of $1.33 billion. In comparison, last year the company earned a revenue of $15.1 billion and had a net profit of $626 million
Based on the recent corporate insider activity of 36 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ET in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Energy Transfer LP provides natural gas pipeline transportation and transmission services. Its projects include Marcus Hook Industrial Complex, Mariner east Pipelines, Mont Belvieu facility, Lone Star Express Expansion, Bakken Pipeline and Lake Charles LNG. Energy Transfer was founded in September 2002 and is headquartered in Dallas, TX.
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