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

Royal Bank of Canada reiterated their outperform rating on shares of Energy Transfer (NYSE:ET) in a research note published on Tuesday morning,Benzinga reports. Royal Bank of Canada currently has a $23.00 price objective on the pipeline company’s stock.

A number of other brokerages have also commented on ET. UBS Group reiterated a “buy” rating on shares of Energy Transfer in a report on Tuesday, March 4th. Barclays boosted their price target on shares of Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Wells Fargo & Company raised their price objective 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. Stifel Nicolaus lifted their price objective 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. Finally, Citigroup reissued a “buy” rating on shares of Energy Transfer in a research report on Monday. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $22.09.

Energy Transfer Stock Performance

Shares of ET stock opened at $18.90 on Tuesday. 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 50-day moving average of $19.49 and a 200-day moving average of $18.34. Energy Transfer has a one year low of $14.90 and a one year high of $21.45. The company has a market cap of $64.86 billion, a P/E ratio of 14.77, a P/E/G ratio of 0.64 and a beta of 1.72.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data 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 net margin of 5.74% and a return on equity of 11.56%. Equities research analysts forecast that Energy Transfer will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Friday, February 7th were paid a dividend of $0.325 per share. This represents a $1.30 dividend on an annualized basis and a dividend yield of 6.88%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, February 7th. Energy Transfer’s payout ratio is presently 101.56%.

Hedge Funds Weigh In On Energy Transfer

A number of large investors have recently modified their holdings of ET. Mascagni Wealth Management Inc. purchased a new stake in shares of Energy Transfer in the fourth quarter worth $50,000. Chancellor Financial Group WB LP bought a new position in Energy Transfer in the 4th quarter worth about $303,000. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Energy Transfer by 6.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 764,632 shares of the pipeline company’s stock valued at $14,979,000 after acquiring an additional 45,809 shares in the last quarter. Alpha Wealth Funds LLC bought a new stake in shares of Energy Transfer during the 4th quarter valued at about $2,143,000. Finally, Jefferies Financial Group Inc. grew its holdings in shares of Energy Transfer by 125.0% during the fourth quarter. Jefferies Financial Group Inc. now owns 469,227 shares of the pipeline company’s stock worth $9,192,000 after purchasing an additional 260,700 shares in the last quarter. 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.