Energy Transfer (NYSE:ET) Given New $23.00 Price Target at JPMorgan Chase & Co.

Energy Transfer (NYSE:ET - Get Free Report) had its price target decreased by stock analysts at JPMorgan Chase & Co. from $25.00 to $23.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has an "overweight" rating on the pipeline company's stock. JPMorgan Chase & Co.'s price objective indicates a potential upside of 27.88% from the stock's current price.

• Is Energy Transfer Undervalued or a Value Trap?

Other equities research analysts also recently issued reports about the company. UBS Group reiterated a "buy" rating on shares of Energy Transfer in a report on Tuesday, March 4th. Wells Fargo & Company dropped their target price on shares of Energy Transfer from $22.00 to $21.00 and set an "overweight" rating on the stock in a report on Wednesday, May 7th. Royal Bank of Canada restated an "outperform" rating and issued a $23.00 price target on shares of Energy Transfer in a research report on Tuesday, March 25th. Citigroup reaffirmed a "buy" rating on shares of Energy Transfer in a research report on Monday, March 24th. Finally, Morgan Stanley raised their target price on shares of Energy Transfer from $20.00 to $26.00 and gave the stock an "overweight" rating in a report on Tuesday, March 25th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $22.36.

View Our Latest Stock Report on Energy Transfer

Energy Transfer Stock Up 0.2%

• Energy Transfer: Tariff-Resistant Midstream Resilience

NYSE ET traded up $0.04 during mid-day trading on Monday, reaching $17.99. 3,158,282 shares of the company's stock traded hands, compared to its average volume of 15,503,349. The company has a current ratio of 1.12, a quick ratio of 0.88 and a debt-to-equity ratio of 1.42. Energy Transfer has a 1-year low of $14.60 and a 1-year high of $21.45. The company has a fifty day simple moving average of $17.48 and a 200-day simple moving average of $18.58. The company has a market cap of $61.71 billion, a price-to-earnings ratio of 14.05, a P/E/G ratio of 0.64 and a beta of 0.77.

Energy Transfer (NYSE:ET - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The pipeline company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.03. The firm had revenue of $21.02 billion for the quarter, compared to analysts' expectations of $22.28 billion. Energy Transfer had a net margin of 5.74% and a return on equity of 11.56%. The firm's quarterly revenue was down 2.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.32 earnings per share. As a group, equities research analysts expect that Energy Transfer will post 1.46 EPS for the current year.

Institutional Trading of Energy Transfer

• Energy Transfer: Powering Data With Dividends and Diversification

A number of institutional investors have recently made changes to their positions in ET. Mountain Hill Investment Partners Corp. acquired a new stake in shares of Energy Transfer in the fourth quarter valued at $25,000. Capital A Wealth Management LLC bought a new position in shares of Energy Transfer during the 4th quarter valued at about $26,000. Fourth Dimension Wealth LLC bought a new position in shares of Energy Transfer during the 4th quarter valued at about $29,000. Vision Financial Markets LLC acquired a new position in shares of Energy Transfer in the 1st quarter worth approximately $33,000. Finally, United Community Bank acquired a new stake in Energy Transfer during the fourth quarter valued at approximately $35,000. 38.22% of the stock is owned by institutional investors and hedge funds.

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.

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