Why Has Jefferies Given Energy Transfer (NYSE:ETP) a $48 Price Target
The Investment firm Jefferies has today started coverage on Energy Transfer (NYSE:ETP) shares, with a Buy rating, while setting the price target at $48.
From a total of 12 analysts covering Energy Transfer Partners (NYSE:ETP) stock, 0 rate it a ”Buy”, 0 a “Sell”, and 0 a ”Hold”. This means that NaN of the ratings are positive. The highest target price is $68 while the lowest target price is $45. The mean of all analyst targets is $53 with a 102.17% above today’s ($29.43) stock price. Energy Transfer Partners was the topic of 10 analyst reports since August 10, 2015 according to the firm StockzIntelligence Inc. RBC Capital Markets maintained shares on November 24 with “Outperform” rating. Evercore initiated ETP stock in a recent report from October 27 with “Buy” rating. Finally, Zacks downgraded the stock to “Buy” rating in a report issued on an August 10.
Approximately 1.10M shares of stock traded hands. Energy Transfer Partners LP (NYSE:ETP) has declined 50.28% since May 15, 2015 and is downtrending. It has underperformed by 46.47% the S&P500.
The overall sentiment of institutions has decreased to 0.84 in Q2 2015. Its down 2.07, from 2.91 in 2015Q2. The ratio dropped, as 76 institutions have sold all the shares of Energy Transfer Partners LP that they owned while 182 funds have taken shares off the table. 44 funds have purchased shares for the first time while 172 added to their positions. These institutions now hold 257.33 million shares or 1.09% more than the 254.56 million shares they owned in 2015Q2.
The Fund Kayne Anderson Capital Advisors Lp currently is holding shares equating to 10.21% of its total portfolio in Energy Transfer Partners LP representing a total of 24.53 million shares. Another fund,Alps Advisors Inc, is holding a total of 12.86 million shares equating to 5.57% of their holdings. Additionally, Cushing Asset Management Lp has a 2.93 million share stake in Energy Transfer Partners LP which represents 4.58% of their total portfolio. The Fund, Magnetar Financial Llc, based out of Illinois, has also built up a stake in the stock, which represents a total of 4.57% of their total portfolio. Finally Heronetta Management L.P., a fund which is based in the state of New York reported a total holdings of 171,268 shares.
Insider activity is a very important aspect to track on any stock. Going back to March 11, 2015, shareholders of Energy Transfer Partners LP have witnessed 1 buy, and a total of 0 selling transactions equating to a net activity of approximately $59,765 . Grimm Michael K bought 1,325 shares worth approximately $59,765. Welch Jamie bought 20,000 shares worth approximately $1.10 million.
Energy Transfer Partners, L.P. is a master limited partnership. The company has a market cap of $15.29 billion. The Company’s operating divisions include Intrastate Transportation and Storage segment; Interstate Transportation and Storage segment; Midstream segment; Liquids Transportation and Services segment; Investment in Sunoco Logistics segment; Retail Marketing segment and All Other segment. It has 70.22 P/E ratio. It is engaged in natural gas operations, including natural gas midstream and intrastate transportation and storage, and interstate natural gas transportation and storage; Liquids operations, including NGL transportation, storage and fractionation services; product and crude oil operations, including product and crude oil transportation, terminalling services and acquisition and marketing activities and retail marketing of gasoline and middle distillates.
According to Zacks Investment Research, “Energy Transfer Partners, L.P. is a publicly traded partnership owning and operating a diversified portfolio of energy assets. The Partnership’s natural gas operations includes miles of natural gas gathering and transportation pipelines, natural gas treating and processing assets located in Texas and Louisiana, and three natural gas storage facilities located in Texas.”