Energy Transfer (NYSE:ET) PT Raised to $20.00 at Royal Bank of Canada

Energy Transfer (NYSE:ET) had its price target upped by analysts at Royal Bank of Canada from $19.00 to $20.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an “outperform” rating on the pipeline company’s stock. Royal Bank of Canada’s target price indicates a potential upside of 21.36% from the company’s previous close.

A number of other research analysts have also recently issued reports on the stock. JPMorgan Chase & Co. raised their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Thursday, June 20th. UBS Group raised their target price on Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Finally, Mizuho increased their price objective on Energy Transfer from $19.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, June 18th. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Energy Transfer presently has a consensus rating of “Buy” and a consensus target price of $20.00.

Energy Transfer Stock Up 0.7 %

Shares of ET stock traded up $0.11 during mid-day trading on Wednesday, hitting $16.48. 5,714,715 shares of the stock traded hands, compared to its average volume of 13,122,849. Energy Transfer has a 52-week low of $12.90 and a 52-week high of $16.64. The stock has a market cap of $55.54 billion, a P/E ratio of 15.11, a P/E/G ratio of 0.50 and a beta of 1.66. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.14 and a quick ratio of 0.92. The stock’s fifty day moving average is $16.07 and its two-hundred day moving average is $15.93.

Energy Transfer (NYSE:ET) last posted its earnings results on Wednesday, August 7th. The pipeline company reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). Energy Transfer had a net margin of 5.19% and a return on equity of 12.74%. The firm had revenue of $20.73 billion for the quarter, compared to analysts’ expectations of $22.01 billion. During the same period in the previous year, the company earned $0.25 EPS. The company’s revenue was up 13.1% on a year-over-year basis. Equities analysts predict that Energy Transfer will post 1.35 EPS for the current year.

Insider Buying and Selling

In other Energy Transfer news, EVP Gregory G. Mcilwain bought 20,000 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were purchased at an average price of $15.68 per share, for a total transaction of $313,600.00. Following the transaction, the executive vice president now directly owns 591,211 shares of the company’s stock, valued at approximately $9,270,188.48. This represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Kelcy L. Warren acquired 3,000,000 shares of the business’s stock in a transaction on Monday, August 12th. The stock was bought at an average cost of $15.68 per share, for a total transaction of $47,040,000.00. Following the purchase, the director now owns 123,385,650 shares in the company, valued at approximately $1,934,686,992. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Gregory G. Mcilwain bought 20,000 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was purchased at an average price of $15.68 per share, for a total transaction of $313,600.00. Following the transaction, the executive vice president now owns 591,211 shares of the company’s stock, valued at approximately $9,270,188.48. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 3,040,000 shares of company stock valued at $47,667,200. 3.28% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Berkley W R Corp lifted its stake in Energy Transfer by 11.6% in the 1st quarter. Berkley W R Corp now owns 5,334,494 shares of the pipeline company’s stock worth $83,912,000 after purchasing an additional 555,445 shares in the last quarter. NBC Securities Inc. lifted its position in Energy Transfer by 4.3% during the first quarter. NBC Securities Inc. now owns 56,366 shares of the pipeline company’s stock worth $886,000 after buying an additional 2,326 shares in the last quarter. Cetera Investment Advisers boosted its stake in Energy Transfer by 491.3% during the first quarter. Cetera Investment Advisers now owns 1,290,364 shares of the pipeline company’s stock worth $20,297,000 after buying an additional 1,072,144 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in Energy Transfer by 2.8% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 549,971 shares of the pipeline company’s stock valued at $8,651,000 after buying an additional 15,097 shares in the last quarter. Finally, Chickasaw Capital Management LLC increased its stake in shares of Energy Transfer by 3.1% in the 3rd quarter. Chickasaw Capital Management LLC now owns 15,350,521 shares of the pipeline company’s stock worth $246,376,000 after acquiring an additional 466,565 shares during the last quarter. 38.22% of the stock is owned by institutional investors and hedge funds.

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.