Analysts have been eager to weigh in on the Materials sector with new ratings on Southwestern Energy (SWN) and Energy Transfer LP (ET).
Southwestern Energy (SWN)
In a report released yesterday, Stephen Richardson from Evercore ISI maintained a Hold rating on Southwestern Energy, with a price target of $6. The company’s shares opened today at $1.90, close to its 52-week low of $1.64.
Richardson commented:
“Weaker pre-hedge NGL realizations of $10.51/bbl were below our estimate of $13.46 during the quarter.”
According to TipRanks.com, Richardson is a 1-star analyst with an average return of -3.9% and a 38.6% success rate. Richardson covers the Basic Materials sector, focusing on stocks such as Marathon Oil, Viper Energy, and Callon.
Currently, the analyst consensus on Southwestern Energy is a Hold with an average price target of $3.90.
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Energy Transfer LP (ET)
In a report released yesterday, Dan Walk from Evercore ISI maintained a Buy rating on Energy Transfer LP, with a price target of $18. The company’s shares opened today at $13.83.
Currently, the analyst consensus on Energy Transfer LP is a Strong Buy with an average price target of $21.25.
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