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

Energy Transfer (NYSE:ET - Get Free Report)'s stock had its "outperform" rating reissued by research analysts at Royal Bank of Canada in a note issued to investors on Tuesday,Benzinga reports. They presently have a $23.00 price target on the pipeline company's stock. Royal Bank of Canada's target price would suggest a potential upside of 24.09% from the company's previous close.

A number of other equities analysts have also recently weighed in on the stock. UBS Group reaffirmed a "buy" rating on shares of Energy Transfer in a research report on Tuesday, March 4th. The Goldman Sachs Group boosted their price target 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 raised their price objective on shares of Energy Transfer from $20.00 to $21.00 and gave the company an "overweight" rating in a report on Wednesday, December 18th. Morgan Stanley increased their target price on 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 equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, Energy Transfer has an average rating of "Moderate Buy" and a consensus target price of $22.09.

Energy Transfer Price Performance

NYSE:ET traded down $0.35 during trading hours on Tuesday, hitting $18.54. 4,011,835 shares of the stock were exchanged, compared to its average volume of 14,555,392. The company has a market cap of $63.60 billion, a P/E ratio of 14.48, a P/E/G ratio of 0.64 and a beta of 1.72. The firm's fifty day moving average price is $19.49 and its 200 day moving average price is $18.34. Energy Transfer has a 52-week low of $14.90 and a 52-week 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.

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Energy Transfer (NYSE:ET - Get Free Report) last announced its quarterly earnings data on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share 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%. As a group, equities research analysts anticipate that Energy Transfer will post 1.46 EPS for the current fiscal year.

Hedge Funds Weigh In On Energy Transfer

A number of institutional investors have recently modified their holdings of ET. Bank of Montreal Can raised its holdings in Energy Transfer by 12,090.8% in the 4th quarter. Bank of Montreal Can now owns 12,455,613 shares of the pipeline company's stock valued at $244,005,000 after acquiring an additional 12,353,441 shares during the last quarter. FMR LLC boosted its holdings in shares of Energy Transfer by 44.0% in the 3rd quarter. FMR LLC now owns 33,379,297 shares of the pipeline company's stock valued at $535,738,000 after purchasing an additional 10,195,768 shares during the last quarter. Zurich Insurance Group Ltd FI purchased a new stake in shares of Energy Transfer during the 4th quarter valued at about $79,113,000. BNP Paribas Financial Markets raised its holdings in Energy Transfer by 36.7% in the third quarter. BNP Paribas Financial Markets now owns 11,563,478 shares of the pipeline company's stock valued at $185,594,000 after acquiring an additional 3,106,631 shares in the last quarter. Finally, Hsbc Holdings PLC bought a new stake in shares of Energy Transfer during the 4th quarter valued at about $50,166,000. 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.