Energy Transfer’s (ET) “Outperform” Rating Reiterated at Royal Bank of Canada

Energy Transfer (NYSE:ET)‘s stock had its “outperform” rating restated by stock analysts at Royal Bank of Canada in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $23.00 price objective on the pipeline company’s stock. Royal Bank of Canada’s price target suggests a potential upside of 21.73% from the stock’s current price.

Other research analysts also recently issued research reports about the company. Citigroup reiterated a “buy” rating on shares of Energy Transfer in a report on Monday. The Goldman Sachs Group increased their price target on shares of Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Thursday, December 19th. Stifel Nicolaus increased their target price on shares of Energy Transfer from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Wells Fargo & Company upped their price target on shares of Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. Finally, Morgan Stanley lifted their price objective on Energy Transfer from $20.00 to $26.00 and gave the company an “overweight” rating in a research report on Tuesday. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $22.09.

Energy Transfer Price Performance

ET stock traded up $0.02 during trading hours on Tuesday, hitting $18.90. 3,064,107 shares of the stock traded hands, compared to its average volume of 14,513,480. The stock has a 50-day simple moving average of $19.56 and a 200 day simple moving average of $18.31. The company has a market cap of $64.83 billion, a P/E ratio of 14.77, a P/E/G ratio of 0.64 and a beta of 1.72. Energy Transfer has a one year low of $14.90 and a one year high of $21.45. The company has a current ratio of 1.12, a quick ratio of 0.88 and a debt-to-equity ratio of 1.42.

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Watts Gwilliam & Co. LLC bought a new stake in Energy Transfer during the fourth quarter worth approximately $1,297,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT grew its stake in Energy Transfer by 4.0% in the 4th quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 7,586,598 shares of the pipeline company’s stock valued at $148,621,000 after buying an additional 293,088 shares during the last quarter. Forvis Mazars Wealth Advisors LLC grew its stake in Energy Transfer by 164.1% in the 4th quarter. Forvis Mazars Wealth Advisors LLC now owns 60,566 shares of the pipeline company’s stock valued at $1,186,000 after buying an additional 37,633 shares during the last quarter. Paragon Capital Management Ltd raised its holdings in Energy Transfer by 435.5% in the 4th quarter. Paragon Capital Management Ltd now owns 68,724 shares of the pipeline company’s stock worth $1,346,000 after acquiring an additional 55,890 shares during the period. Finally, FFG Partners LLC lifted its position in Energy Transfer by 0.9% during the 4th quarter. FFG Partners LLC now owns 1,650,574 shares of the pipeline company’s stock worth $32,335,000 after acquiring an additional 13,948 shares during 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.