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

Energy Transfer (NYSE:ET) had its price target increased by stock analysts at The Goldman Sachs Group from $17.00 to $20.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the pipeline company’s stock. The Goldman Sachs Group’s target price points to a potential upside of 6.04% from the company’s previous close.

Several other brokerages have also issued reports on ET. Bank of America assumed coverage on Energy Transfer in a research report on Thursday, October 17th. They issued a “buy” rating and a $20.00 target price for the company. UBS Group increased their price objective on Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Wells Fargo & Company boosted their target price on shares of Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, Royal Bank of Canada increased 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 issued a buy rating to the stock. According to MarketBeat, Energy Transfer currently has a consensus rating of “Moderate Buy” and an average target price of $20.55.

Energy Transfer Stock Performance

NYSE:ET opened at $18.86 on Thursday. The company has a quick ratio of 0.88, a current ratio of 1.08 and a debt-to-equity ratio of 1.40. Energy Transfer has a twelve month low of $13.60 and a twelve month high of $20.02. The stock has a market cap of $64.58 billion, a P/E ratio of 13.87, a price-to-earnings-growth ratio of 0.63 and a beta of 1.70. The firm’s fifty day simple moving average is $17.80 and its 200 day simple moving average is $16.63.

Energy Transfer (NYSE:ET) last announced its earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share 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 firm had revenue of $20.77 billion for the quarter, compared to analyst estimates of $21.59 billion. During the same quarter in the previous year, the firm posted $0.31 EPS. The company’s revenue for the quarter was up .2% compared to the same quarter last year. As a group, research analysts predict that Energy Transfer will post 1.32 EPS for the current year.

Hedge Funds Weigh In On Energy Transfer

A number of hedge funds have recently added to or reduced their stakes in the company. &PARTNERS lifted its stake in Energy Transfer by 215.9% during the 2nd quarter. &PARTNERS now owns 32,011 shares of the pipeline company’s stock valued at $519,000 after acquiring an additional 21,879 shares during the period. TrueWealth Advisors LLC purchased a new stake in Energy Transfer in the second quarter worth approximately $171,000. LRI Investments LLC grew its position in Energy Transfer by 567.9% in the 2nd quarter. LRI Investments LLC now owns 12,290 shares of the pipeline company’s stock worth $199,000 after purchasing an additional 10,450 shares during the period. Fullcircle Wealth LLC purchased a new stake in Energy Transfer during the 2nd quarter valued at $412,000. Finally, Raymond James Trust N.A. lifted its holdings in shares of Energy Transfer by 4.1% during the 2nd quarter. Raymond James Trust N.A. now owns 110,451 shares of the pipeline company’s stock valued at $1,792,000 after buying an additional 4,326 shares during the period. 38.22% of the stock is currently owned by hedge funds and other 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.