Energy Transfer (NYSE:ET) Given “Outperform” Rating at Royal Bank of Canada

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

Other research analysts have also recently issued research reports about the stock. 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 report on Tuesday. Citigroup reaffirmed a “buy” rating on shares of Energy Transfer in a research note on Monday. Stifel Nicolaus increased their target price on Energy Transfer from $21.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Barclays boosted their price target on Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Finally, UBS Group reiterated a “buy” rating on shares of Energy Transfer in a report on Tuesday, March 4th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $22.09.

Energy Transfer Stock Performance

ET stock opened at $18.87 on Tuesday. Energy Transfer has a 1-year low of $14.90 and a 1-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. The firm has a market cap of $64.75 billion, a PE ratio of 14.74, a P/E/G ratio of 0.64 and a beta of 1.72. The business’s 50-day moving average price is $19.54 and its two-hundred day moving average price is $18.33.

Energy Transfer (NYSE:ET) last released its quarterly earnings results 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 return on equity of 11.56% and a net margin of 5.74%. As a group, research analysts forecast that Energy Transfer will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Friday, February 7th were given a dividend of $0.325 per share. The ex-dividend date of this dividend 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 yield of 6.89%. Energy Transfer’s dividend payout ratio is 101.56%.

Hedge Funds Weigh In On Energy Transfer

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Thrivent Financial for Lutherans lifted its stake in Energy Transfer by 57.0% in the third quarter. Thrivent Financial for Lutherans now owns 21,671 shares of the pipeline company’s stock valued at $348,000 after acquiring an additional 7,870 shares during the last quarter. Cerity Partners LLC increased its stake in shares of Energy Transfer by 29.1% during the 3rd quarter. Cerity Partners LLC now owns 242,531 shares of the pipeline company’s stock worth $3,893,000 after purchasing an additional 54,611 shares during the last quarter. Brown Brothers Harriman & Co. raised its holdings in shares of Energy Transfer by 111.9% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 67,401 shares of the pipeline company’s stock valued at $1,082,000 after purchasing an additional 35,595 shares during the period. Private Trust Co. NA lifted its stake in Energy Transfer by 19.7% in the 3rd quarter. Private Trust Co. NA now owns 24,213 shares of the pipeline company’s stock valued at $389,000 after purchasing an additional 3,983 shares during the last quarter. Finally, FMR LLC grew its holdings in Energy Transfer by 44.0% during the third quarter. FMR LLC now owns 33,379,297 shares of the pipeline company’s stock worth $535,738,000 after purchasing an additional 10,195,768 shares during the period. 38.22% of the stock is 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.