Energy Transfer (NYSE:ET) Receives “Outperform” Rating from Royal Bank of Canada

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

A number of other equities analysts have also recently issued reports on the stock. Morgan Stanley boosted their price objective on shares of Energy Transfer from $20.00 to $26.00 and gave the company an “overweight” rating in a research report on Tuesday. Stifel Nicolaus raised their target price on Energy Transfer from $21.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Citigroup reaffirmed a “buy” rating on shares of Energy Transfer in a research report on Monday. Barclays lifted their price objective on Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Finally, Wells Fargo & Company upped their target price on Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, Energy Transfer has an average rating of “Moderate Buy” and an average price target of $22.09.

Energy Transfer Stock Performance

NYSE:ET 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. Energy Transfer has a 1-year low of $14.90 and a 1-year high of $21.45. The business has a 50 day moving average of $19.49 and a 200 day moving average of $18.34. The company has a market capitalization of $64.86 billion, a price-to-earnings ratio of 14.77, a PEG ratio of 0.64 and a beta of 1.72.

Energy Transfer (NYSE:ET) last issued its earnings results on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.06). Energy Transfer had a return on equity of 11.56% and a net margin of 5.74%. On average, sell-side analysts predict that Energy Transfer will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders 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 represents a $1.30 annualized dividend and a yield of 6.88%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio (DPR) is currently 101.56%.

Institutional Investors Weigh In On Energy Transfer

Several hedge funds have recently bought and sold shares of ET. Mountain Hill Investment Partners Corp. purchased a new stake in shares of Energy Transfer in the fourth quarter worth $25,000. Capital A Wealth Management LLC purchased a new stake in Energy Transfer during the 4th quarter valued at about $26,000. GAMMA Investing LLC bought a new stake in Energy Transfer during the 4th quarter valued at about $29,000. Fourth Dimension Wealth LLC purchased a new position in Energy Transfer in the fourth quarter worth about $29,000. Finally, United Community Bank bought a new position in shares of Energy Transfer in the fourth quarter worth approximately $35,000. Institutional investors 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.