The Goldman Sachs Group Forecasts Strong Price Appreciation for Energy Transfer (NYSE:ET) Stock

Energy Transfer (NYSE:ET) had its price objective boosted by stock analysts at The Goldman Sachs Group from $17.00 to $20.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the pipeline company’s stock. The Goldman Sachs Group’s price objective points to a potential upside of 9.41% from the company’s current price.

ET has been the topic of several other research reports. Royal Bank of Canada increased their target price on shares of Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Wells Fargo & Company raised their price objective on shares of Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Wednesday. Bank of America began coverage on Energy Transfer in a research report on Thursday, October 17th. They set a “buy” rating and a $20.00 target price for the company. Finally, UBS Group increased their price target on Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.40.

Energy Transfer Price Performance

Shares of Energy Transfer stock traded up $0.08 during trading hours on Thursday, reaching $18.28. The company’s stock had a trading volume of 4,519,233 shares, compared to its average volume of 13,689,918. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.08 and a quick ratio of 0.88. Energy Transfer has a one year low of $13.60 and a one year high of $20.02. The firm has a 50 day moving average price of $17.72 and a 200-day moving average price of $16.60. The stock has a market cap of $62.59 billion, a P/E ratio of 13.44, a P/E/G ratio of 0.63 and a beta of 1.70.

Energy Transfer (NYSE:ET) last announced its earnings results on Wednesday, November 6th. The pipeline company reported $0.32 EPS for the quarter, hitting analysts’ consensus estimates of $0.32. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The firm had revenue of $20.77 billion during the quarter, compared to analysts’ expectations of $21.59 billion. During the same quarter in the previous year, the business earned $0.31 EPS. The company’s quarterly revenue was up .2% on a year-over-year basis. On average, analysts predict that Energy Transfer will post 1.32 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Fortis Capital Management LLC increased its holdings in shares of Energy Transfer by 2.0% in the 3rd quarter. Fortis Capital Management LLC now owns 31,956 shares of the pipeline company’s stock valued at $513,000 after acquiring an additional 634 shares during the period. Princeton Global Asset Management LLC boosted its holdings in Energy Transfer by 65.0% in the third quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock worth $26,000 after acquiring an additional 650 shares in the last quarter. Haverford Trust Co grew its stake in shares of Energy Transfer by 0.7% during the third quarter. Haverford Trust Co now owns 102,176 shares of the pipeline company’s stock worth $1,640,000 after acquiring an additional 675 shares during the last quarter. Veracity Capital LLC increased its holdings in shares of Energy Transfer by 2.0% during the third quarter. Veracity Capital LLC now owns 34,255 shares of the pipeline company’s stock valued at $550,000 after acquiring an additional 680 shares in the last quarter. Finally, Rockwood Wealth Management LLC raised its position in shares of Energy Transfer by 0.5% in the 2nd quarter. Rockwood Wealth Management LLC now owns 128,122 shares of the pipeline company’s stock valued at $2,078,000 after purchasing an additional 700 shares during the last quarter. 38.22% of the stock is currently owned by institutional investors.

Energy Transfer Company Profile

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.