JPMorgan Chase & Co. Issues Pessimistic Forecast for Energy Transfer (NYSE:ET) Stock Price

Energy Transfer (NYSE:ET) had its price target reduced by stock analysts at JPMorgan Chase & Co. from $25.00 to $23.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has an “overweight” rating on the pipeline company’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 27.88% from the stock’s previous close.

Several other research firms have also recently weighed in on ET. Stifel Nicolaus increased their target price on shares of Energy Transfer from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Royal Bank of Canada reiterated an “outperform” rating and issued a $23.00 price objective on shares of Energy Transfer in a research report on Tuesday, March 25th. Wells Fargo & Company decreased their price objective on Energy Transfer from $22.00 to $21.00 and set an “overweight” rating on the stock in a report on Wednesday, May 7th. Citigroup restated a “buy” rating on shares of Energy Transfer in a research report on Monday, March 24th. Finally, UBS Group reiterated a “buy” rating on shares of Energy Transfer in a research note on Tuesday, March 4th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $22.36.

Energy Transfer Trading Up 0.2%

Shares of ET traded up $0.04 during midday trading on Monday, hitting $17.99. The stock had a trading volume of 3,158,282 shares, compared to its average volume of 15,503,349. Energy Transfer has a fifty-two week low of $14.60 and a fifty-two week high of $21.45. The business has a 50-day simple moving average of $17.48 and a two-hundred day simple moving average of $18.58. The company has a current ratio of 1.12, a quick ratio of 0.88 and a debt-to-equity ratio of 1.42. The firm has a market cap of $61.71 billion, a P/E ratio of 14.05, a price-to-earnings-growth ratio of 0.64 and a beta of 0.77.

Energy Transfer (NYSE:ET) last posted its quarterly earnings results on Tuesday, May 6th. The pipeline company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.33 by $0.03. The business had revenue of $21.02 billion during 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% compared to the same quarter last year. During the same period last year, the company posted $0.32 earnings per share. As a group, equities analysts forecast that Energy Transfer will post 1.46 EPS for the current year.

Institutional Inflows and Outflows

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