RBC Capital Reinstates Energy Transfer (ET) at Outperform

RBC Capital analyst Elvira Scotto reinstates coverage on Energy Transfer (NYSE: ET) with a Outperform rating and a price target of $22.00.

The analyst comments "We update our model post recent earnings, the closing of SUN's acquisition of Parkland and USAC's announced acquisition of J-W Power. We include new projects and extend our model through 2027. We believe ET is well positioned to benefit from growing natural gas demand, including from datacenters and LNG exports. That said, we see intermediate term headwinds in ET's NGL business as some NGL pipeline contracts roll. We reinstate our Outperform rating with a price target of $22."

For an analyst ratings summary and ratings history on Energy Transfer click here. For more ratings news on Energy Transfer click here.

Shares of Energy Transfer closed at $16.56 yesterday.

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