Energy Transfer (NYSE:ET) Earns Outperform Rating from Royal Bank of Canada

Royal Bank of Canada reaffirmed their outperform rating on shares of Energy Transfer (NYSE:ET) in a research report released on Tuesday morning,Benzinga reports. They currently have a $23.00 target price on the pipeline company’s stock.

ET has been the subject of several other reports. Wells Fargo & Company lifted their price target on Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. UBS Group reissued a “buy” rating on shares of Energy Transfer in a report on Tuesday, March 4th. Morgan Stanley upped their price target on shares of Energy Transfer from $20.00 to $26.00 and gave the company an “overweight” rating in a research note on Tuesday. Citigroup reiterated a “buy” rating on shares of Energy Transfer in a research note on Monday. Finally, Stifel Nicolaus boosted their price objective on shares of Energy Transfer from $21.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.09.

Energy Transfer Price Performance

Shares of ET opened at $18.87 on Tuesday. The company’s 50-day moving average is $19.54 and its 200-day moving average is $18.33. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.12 and a quick ratio of 0.88. The firm has a market capitalization of $64.75 billion, a PE ratio of 14.74, a PEG ratio of 0.64 and a beta of 1.72. Energy Transfer has a fifty-two week low of $14.90 and a fifty-two week high of $21.45.

Energy Transfer (NYSE:ET) last released its quarterly earnings results on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share 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%. Equities analysts forecast that Energy Transfer will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th were given a $0.325 dividend. The ex-dividend date was Friday, February 7th. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.30 annualized dividend and a dividend yield of 6.89%. Energy Transfer’s payout ratio is presently 101.56%.

Institutional Investors Weigh In On Energy Transfer

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Mountain Hill Investment Partners Corp. acquired a new position in shares of Energy Transfer during the 4th quarter worth $25,000. Capital A Wealth Management LLC acquired a new position in Energy Transfer during the fourth quarter worth about $26,000. GAMMA Investing LLC acquired a new position in Energy Transfer during the fourth quarter worth about $29,000. Fourth Dimension Wealth LLC bought a new position in shares of Energy Transfer in the fourth quarter worth about $29,000. Finally, United Community Bank acquired a new stake in shares of Energy Transfer in the 4th quarter valued at approximately $35,000. 38.22% of the stock is currently owned by 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.