Energy Transfer (NYSE:ET) Given New $23.00 Price Target at Royal Bank of Canada

Energy Transfer (NYSE:ET) had its price target increased by research analysts at Royal Bank of Canada from $20.00 to $23.00 in a report issued on Monday,Benzinga reports. The brokerage presently has an “outperform” rating on the pipeline company’s stock. Royal Bank of Canada’s price objective would indicate a potential upside of 18.86% from the company’s previous close.

ET has been the topic of a number of other research reports. UBS Group upped their price target on Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Bank of America began coverage on shares of Energy Transfer in a report on Thursday, October 17th. They set a “buy” rating and a $20.00 price objective on the stock. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat, Energy Transfer currently has a consensus rating of “Buy” and an average target price of $20.38.

Energy Transfer Price Performance

Shares of NYSE:ET opened at $19.35 on Monday. Energy Transfer has a fifty-two week low of $13.11 and a fifty-two week high of $20.02. The company’s 50-day moving average is $17.29 and its 200 day moving average is $16.42. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.88 and a current ratio of 1.08. The company has a market capitalization of $66.25 billion, a P/E ratio of 14.23, a price-to-earnings-growth ratio of 0.63 and a beta of 1.70.

Energy Transfer (NYSE:ET) last released its earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.32. The firm had revenue of $20.77 billion during the quarter, compared to the consensus estimate of $21.59 billion. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The company’s revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.31 EPS. On average, equities research analysts forecast that Energy Transfer will post 1.32 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ET. Empowered Funds LLC boosted its position in shares of Energy Transfer by 15.0% during the 3rd quarter. Empowered Funds LLC now owns 346,825 shares of the pipeline company’s stock valued at $5,567,000 after acquiring an additional 45,172 shares during the last quarter. Kingsview Wealth Management LLC lifted its position in Energy Transfer by 30.9% during the third quarter. Kingsview Wealth Management LLC now owns 242,042 shares of the pipeline company’s stock valued at $3,885,000 after purchasing an additional 57,184 shares during the last quarter. FMR LLC lifted its position in Energy Transfer by 44.0% during the third 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. Clear Street Derivatives LLC bought a new position in shares of Energy Transfer in the 3rd quarter worth $2,565,000. Finally, GFS Advisors LLC raised its position in shares of Energy Transfer by 19,380.5% during the 3rd quarter. GFS Advisors LLC now owns 60,000 shares of the pipeline company’s stock valued at $963,000 after buying an additional 59,692 shares in the last quarter. 38.22% of the stock is owned by institutional investors.

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.