Energy Transfer (NYSE:ET) Receives “Outperform” Rating from Royal Bank of Canada

Energy Transfer (NYSE:ET)‘s stock had its “outperform” rating reaffirmed by research analysts at Royal Bank of Canada in a research note issued on Tuesday,Benzinga reports. They presently have a $23.00 price target on the pipeline company’s stock. Royal Bank of Canada’s price target points to a potential upside of 21.73% from the company’s previous close.

Other analysts have also recently issued research reports about the company. Barclays upped their price objective on Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. The Goldman Sachs Group lifted their price objective on shares of Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a report on Thursday, December 19th. Wells Fargo & Company increased their target price on shares of Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Morgan Stanley lifted their price target on shares of Energy Transfer from $20.00 to $26.00 and gave the company an “overweight” rating in a report on Tuesday. Finally, Citigroup reiterated a “buy” rating on shares of Energy Transfer in a research note on Monday. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $22.09.

Energy Transfer Stock Up 0.1 %

NYSE:ET traded up $0.02 on Tuesday, reaching $18.90. The stock had a trading volume of 3,064,107 shares, compared to its average volume of 14,513,480. The company has a 50-day moving average of $19.56 and a 200 day moving average of $18.31. The company has a current ratio of 1.12, a quick ratio of 0.88 and a debt-to-equity ratio of 1.42. The stock has a market cap of $64.83 billion, a P/E ratio of 14.77, a price-to-earnings-growth ratio of 0.64 and a beta of 1.72. Energy Transfer has a 12-month low of $14.90 and a 12-month high of $21.45.

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ET. Mountain Hill Investment Partners Corp. bought a new stake in shares of Energy Transfer during the fourth quarter valued at about $25,000. Capital A Wealth Management LLC acquired a new position in Energy Transfer during the 4th quarter valued at about $26,000. GAMMA Investing LLC acquired a new position in Energy Transfer during the 4th quarter valued at about $29,000. Fourth Dimension Wealth LLC bought a new stake in shares of Energy Transfer during the 4th quarter worth about $29,000. Finally, United Community Bank acquired a new stake in shares of Energy Transfer in the 4th quarter worth approximately $35,000. Institutional investors and hedge funds 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.