Energy Transfer Now Covered by Credit Suisse (ETP)
Research analysts at Credit Suisse began coverage on shares of Energy Transfer (NYSE:ETP) in a report released on Monday, Analyst Ratings Net reports. The firm set a “neutral” rating and a $58.00 price target on the stock. Credit Suisse’s price target would suggest a potential upside of 5.11% from the stock’s previous close.
The analysts wrote, “While we view the resumption of distribution growth and the growth prospects for 2014/15 as a positive, these are helped by IDR waivers from ETE and the outlook longer-term for LP holders is somewhat diminished by ETE taking more and the coverage cushion being fairly slim. While a clear focus on M&A over the near/mid-term (at ETP or SXL) could present opportunities, they also come with potential risks. We believe the total return outlook for ETP for the next 12 months is decent at ~11%, but is roughly in line with our group justifying a Neutral.”
A number of other analysts have also recently weighed in on ETP. Analysts at Deutsche Bank raised their price target on shares of Energy Transfer from $62.00 to $66.00 in a research note to investors on Monday. They now have a “buy” rating on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Energy Transfer in a research note to investors on Thursday, December 26th. They now have a $57.00 price target on the stock. Finally, analysts at Barclays raised their price target on shares of Energy Transfer to $59.00 in a research note to investors on Friday, November 22nd. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $59.17.
Energy Transfer (NYSE:ETP) traded down 1.59% during mid-day trading on Monday, hitting $54.30. 1,226,400 shares of the company’s stock traded hands. Energy Transfer has a 1-year low of $44.88 and a 1-year high of $57.31. The stock’s 50-day moving average is $53.7 and its 200-day moving average is $52.25. The company has a market cap of $17.928 billion and a P/E ratio of 24.44.
Energy Transfer (NYSE:ETP) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $0.51 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.58 by $0.07. The company had revenue of $11.90 billion for the quarter, compared to the consensus estimate of $11.93 billion. During the same quarter in the prior year, the company posted $0.26 earnings per share. The company’s quarterly revenue was up 560.5% on a year-over-year basis. On average, analysts predict that Energy Transfer will post $2.34 earnings per share for the current fiscal year.
Energy Transfer Partners, L.P. (NYSE:ETP) is a limited partnership based in the United States engaged in natural gas operations.
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