Energy Transfer (NYSE:ET) Price Target Raised to $20.00

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

Other analysts have also issued reports about the stock. Wells Fargo & Company boosted their price objective on shares of Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Wednesday. Bank of America started coverage on shares of Energy Transfer in a research note on Thursday, October 17th. They issued a “buy” rating and a $20.00 price target on the stock. Royal Bank of Canada increased their price objective on shares of Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Finally, UBS Group boosted their target price on Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $20.55.

Energy Transfer Stock Performance

NYSE:ET opened at $18.86 on Thursday. The company’s 50-day moving average is $17.80 and its two-hundred day moving average is $16.64. The firm has a market capitalization of $64.58 billion, a price-to-earnings ratio of 13.87, a PEG ratio of 0.63 and a beta of 1.70. 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 1-year low of $13.60 and a 1-year high of $20.02.

Energy Transfer (NYSE:ET) last issued its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share for the quarter, hitting the consensus estimate of $0.32. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The company had revenue of $20.77 billion during the quarter, compared to analyst estimates of $21.59 billion. During the same period in the prior year, the business posted $0.31 earnings per share. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. Analysts forecast that Energy Transfer will post 1.32 EPS for the current year.

Energy Transfer Cuts Dividend

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. FFG Partners LLC grew its stake in shares of Energy Transfer by 3.3% during the third quarter. FFG Partners LLC now owns 1,636,626 shares of the pipeline company’s stock worth $26,268,000 after purchasing an additional 52,302 shares in the last quarter. Fidelity D & D Bancorp Inc. acquired a new position in shares of Energy Transfer during the 3rd quarter worth about $1,207,000. Peapack Gladstone Financial Corp increased its holdings in shares of Energy Transfer by 6.8% in the 3rd quarter. Peapack Gladstone Financial Corp now owns 15,675 shares of the pipeline company’s stock valued at $251,000 after acquiring an additional 1,000 shares during the last quarter. Synovus Financial Corp lifted its stake in Energy Transfer by 69.8% during the third quarter. Synovus Financial Corp now owns 84,530 shares of the pipeline company’s stock worth $1,357,000 after purchasing an additional 34,749 shares during the last quarter. Finally, Tidal Investments LLC boosted its holdings in Energy Transfer by 1.2% in the third quarter. Tidal Investments LLC now owns 101,738 shares of the pipeline company’s stock valued at $1,633,000 after purchasing an additional 1,248 shares in the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

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.