Energy Transfer (NYSE:ET) Price Target Raised to $20.00 at JPMorgan Chase & Co.

Energy Transfer (NYSE:ET) had its price target lifted by stock analysts at JPMorgan Chase & Co. from $19.00 to $20.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the pipeline company’s stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 29.20% from the stock’s current price.

ET has been the topic of several other research reports. Stifel Nicolaus upped their price objective on Energy Transfer from $18.00 to $19.00 and gave the company a “buy” rating in a research note on Thursday, May 9th. Citigroup upped their price objective on Energy Transfer from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. Morgan Stanley upped their price objective on Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a research note on Monday, June 10th. UBS Group upped their price objective on Energy Transfer from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, May 15th. Finally, Mizuho upped their price objective on Energy Transfer from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Energy Transfer currently has an average rating of “Moderate Buy” and an average price target of $19.29.

Energy Transfer Stock Performance

Shares of NYSE ET opened at $15.48 on Thursday. The stock has a 50 day moving average price of $15.66 and a 200 day moving average price of $14.89. Energy Transfer has a 52 week low of $12.46 and a 52 week high of $16.40. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.00 and a current ratio of 1.18. The stock has a market capitalization of $52.17 billion, a PE ratio of 14.20, a price-to-earnings-growth ratio of 0.43 and a beta of 1.63.

Energy Transfer (NYSE:ET) last issued its quarterly earnings results on Wednesday, May 8th. The pipeline company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.04). Energy Transfer had a net margin of 4.85% and a return on equity of 12.22%. The company had revenue of $21.63 billion for the quarter, compared to analyst estimates of $20.91 billion. During the same period last year, the company posted $0.32 earnings per share. The business’s revenue for the quarter was up 13.9% on a year-over-year basis. Analysts predict that Energy Transfer will post 1.43 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Energy Transfer

Large investors have recently modified their holdings of the business. Northwest Financial Advisors acquired a new stake in shares of Energy Transfer in the 4th quarter valued at $25,000. Rise Advisors LLC boosted its holdings in shares of Energy Transfer by 88.2% during the 4th quarter. Rise Advisors LLC now owns 1,978 shares of the pipeline company’s stock valued at $27,000 after acquiring an additional 927 shares in the last quarter. LRI Investments LLC acquired a new stake in shares of Energy Transfer during the 1st quarter valued at $29,000. Atlantic Edge Private Wealth Management LLC acquired a new stake in shares of Energy Transfer during the 4th quarter valued at $33,000. Finally, Harbor Investment Advisory LLC boosted its holdings in shares of Energy Transfer by 42.9% during the 4th quarter. Harbor Investment Advisory LLC now owns 2,500 shares of the pipeline company’s stock valued at $34,000 after acquiring an additional 750 shares in the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

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.