Royal Bank of Canada Reaffirms Outperform Rating for Energy Transfer (NYSE:ET)

Energy Transfer (NYSE:ET)‘s stock had its “outperform” rating reaffirmed by analysts at Royal Bank of Canada in a research note issued to investors on Tuesday,Benzinga reports. They currently have a $23.00 price objective on the pipeline company’s stock. Royal Bank of Canada’s price target indicates a potential upside of 21.48% from the company’s current price.

Several other analysts have also recently weighed in on ET. Barclays lifted their price objective on Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. UBS Group restated a “buy” rating on shares of Energy Transfer in a research report on Tuesday, March 4th. Stifel Nicolaus increased their price objective on Energy Transfer from $21.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. 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, December 18th. Finally, Morgan Stanley increased their price target on shares of Energy Transfer from $20.00 to $26.00 and gave the stock an “overweight” rating in a research note on Tuesday. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, Energy Transfer currently has a consensus rating of “Moderate Buy” and an average target price of $22.09.

Energy Transfer Stock Performance

Shares of ET stock opened at $18.93 on Tuesday. The firm has a market capitalization of $64.96 billion, a price-to-earnings ratio of 14.79, a PEG ratio of 0.64 and a beta of 1.72. The stock has a fifty day moving average of $19.52 and a 200 day moving average of $18.33. Energy Transfer has a 52 week low of $14.90 and a 52 week high of $21.45. The company has a quick ratio of 0.88, a current ratio of 1.12 and a debt-to-equity ratio of 1.42.

Energy Transfer (NYSE:ET) last posted its earnings results on Tuesday, February 11th. The pipeline company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.06). Energy Transfer had a return on equity of 11.56% and a net margin of 5.74%. As a group, research analysts expect that Energy Transfer will post 1.46 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Mountain Hill Investment Partners Corp. purchased a new position in Energy Transfer in the 4th quarter worth approximately $25,000. Capital A Wealth Management LLC bought a new stake in shares of Energy Transfer in the 4th quarter worth $26,000. GAMMA Investing LLC bought a new stake in shares of Energy Transfer in the 4th quarter worth $29,000. Fourth Dimension Wealth LLC bought a new position in shares of Energy Transfer during the fourth quarter valued at $29,000. Finally, United Community Bank purchased a new stake in shares of Energy Transfer during the fourth quarter valued at $35,000. Institutional investors own 38.22% of the company’s stock.

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.