Energy Transfer (NYSE:ET) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

Energy Transfer (NYSE:ET) had its target price upped by The Goldman Sachs Group from $17.00 to $20.00 in a research note released on Thursday,Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the pipeline company’s stock.

A number of other research firms have also recently weighed in on ET. UBS Group increased their price objective on Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Wells Fargo & Company lifted their price objective on shares of Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Wednesday. Bank of America initiated coverage on shares of Energy Transfer in a research report on Thursday, October 17th. They set a “buy” rating and a $20.00 price objective for the company. Finally, Royal Bank of Canada boosted their price target on shares of Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, Energy Transfer has an average rating of “Moderate Buy” and an average target price of $20.55.

Energy Transfer Price Performance

ET stock opened at $18.86 on Thursday. The company has a current ratio of 1.08, a quick ratio of 0.88 and a debt-to-equity ratio of 1.40. The company has a market capitalization of $64.58 billion, a P/E ratio of 13.87, a PEG ratio of 0.63 and a beta of 1.70. The business has a 50 day simple moving average of $17.80 and a 200-day simple moving average of $16.64. Energy Transfer has a twelve month low of $13.60 and a twelve month high of $20.02.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 EPS for the quarter, meeting analysts’ consensus estimates of $0.32. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The company had revenue of $20.77 billion for the quarter, compared to analyst estimates of $21.59 billion. During the same period in the previous year, the business posted $0.31 earnings per share. Energy Transfer’s quarterly revenue was up .2% on a year-over-year basis. As a group, equities analysts anticipate that Energy Transfer will post 1.32 EPS for the current year.

Energy Transfer Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Friday, November 8th were paid a $0.3225 dividend. This represents a $1.29 annualized dividend and a yield of 6.84%. The ex-dividend date was Friday, November 8th. Energy Transfer’s payout ratio is currently 94.85%.

Institutional Trading of Energy Transfer

A number of institutional investors have recently bought and sold shares of ET. Princeton Global Asset Management LLC boosted its position in shares of Energy Transfer by 65.0% in the 3rd quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock worth $26,000 after buying an additional 650 shares in the last quarter. Assetmark Inc. lifted its holdings in shares of Energy Transfer by 2,138.5% in the third quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock valued at $28,000 after purchasing an additional 1,668 shares in the last quarter. HWG Holdings LP acquired a new stake in shares of Energy Transfer in the second quarter valued at approximately $33,000. Continuum Advisory LLC increased its stake in shares of Energy Transfer by 44.8% during the 3rd quarter. Continuum Advisory LLC now owns 2,357 shares of the pipeline company’s stock worth $40,000 after purchasing an additional 729 shares in the last quarter. Finally, Sugarloaf Wealth Management LLC raised its position in shares of Energy Transfer by 43.6% during the 3rd quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company’s stock worth $40,000 after purchasing an additional 750 shares during the last quarter. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

About Energy Transfer

Energy Transfer LP provides energy-related services. The company owns and operates natural gas transportation pipeline, and natural gas storage facilities in Texas and Oklahoma; and approximately 20,090 miles of interstate natural gas pipeline. It also sells natural gas to electric utilities, independent power plants, local distribution and other marketing companies, and industrial end-users.