In a report issued on December 6, Michael Blum from Wells Fargo maintained a Buy rating on Energy Transfer (ET). The company’s shares closed last Monday at $11.50, close to its 52-week low of $10.84.
According to TipRanks.com, Blum is a 4-star analyst with an average return of 8.5% and a 58.3% success rate. Blum covers the Basic Materials sector, focusing on stocks such as Dcp Midstream Partners, Phillips 66 Partners, and NGL Energy Partners.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Energy Transfer with a $19.00 average price target, implying a 64.9% upside from current levels. In a report issued on November 21, Credit Suisse also maintained a Buy rating on the stock with a $16.00 price target.
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Based on Energy Transfer’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $13.5 billion and net profit of $831 million. In comparison, last year the company earned revenue of $14.51 billion and had a net profit of $370 million.
Based on the recent corporate insider activity of 15 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.
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Energy Transfer LP provides natural gas pipeline transportation and transmission services. It operates through following segments: Investment in ETP, Investment in Sunoco LP, Investment in Lake Charles LNG, and Corporate and Other.
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