Fri Sep 20 07:44:56 UTC 2024: ## Energy Transfer Stock Soars on Positive Analyst Ratings and Insider Buys
**New York, NY –** Energy Transfer (NYSE:ET) has been making headlines recently with a surge in its stock price driven by positive analyst ratings and insider buying. UBS Group has increased its price target for ET to $23.00, representing a potential upside of 42.28% from the current price. This follows similar price target hikes from JPMorgan Chase, Morgan Stanley, and Mizuho, all of whom maintain a “buy” or “overweight” rating on the stock.
In a further sign of confidence, Energy Transfer CEO Thomas E. Long and Director Kelcy L. Warren both recently purchased large blocks of the company’s stock. Long bought 20,000 shares at an average price of $15.68 per share, while Warren acquired a whopping 3,000,000 shares at the same price.
This positive sentiment reflects a strong performance from Energy Transfer, despite missing analyst earnings estimates in the most recent quarter. The company reported $0.35 EPS, slightly below the anticipated $0.36. However, revenue for the quarter surged to $20.73 billion, up 13.1% year-over-year.
Energy Transfer operates a vast network of natural gas transportation pipelines and storage facilities, serving a range of customers, from utilities to industrial end-users. The company’s strong revenue growth suggests continued demand for its services, despite the recent earnings miss.
While analysts remain optimistic about Energy Transfer’s future, investors are advised to consider all factors before making any investment decisions.
First Piper 