JPMorgan Chase & Co. Has Lowered Expectations for Energy Transfer (NYSE:ET) Stock Price

Energy Transfer (NYSE:ET) had its price target dropped by research analysts at JPMorgan Chase & Co. from $25.00 to $23.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the pipeline company’s stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 26.93% from the stock’s current price.

ET has been the subject of a number of other research reports. Stifel Nicolaus increased their target price on shares of Energy Transfer from $21.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. UBS Group reissued a “buy” rating on shares of Energy Transfer in a research note on Tuesday, March 4th. Morgan Stanley raised their target price on shares of Energy Transfer from $20.00 to $26.00 and gave the company an “overweight” rating in a research report on Tuesday, March 25th. Royal Bank of Canada reiterated an “outperform” rating and set a $23.00 price target on shares of Energy Transfer in a report on Tuesday, March 25th. Finally, Citigroup reissued a “buy” rating on shares of Energy Transfer in a report on Monday, March 24th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $22.64.

Energy Transfer Stock Up 0.7%

Shares of ET opened at $18.12 on Monday. 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 12 month low of $14.60 and a 12 month high of $21.45. The firm’s 50 day moving average is $17.47 and its 200-day moving average is $18.58. The stock has a market capitalization of $62.17 billion, a PE ratio of 14.16, a P/E/G 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, beating analysts’ consensus estimates of $0.33 by $0.03. The business had revenue of $21.02 billion during the quarter, compared to the consensus estimate of $22.28 billion. Energy Transfer had a return on equity of 11.56% and a net margin of 5.74%. Energy Transfer’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.32 earnings per share. Equities research analysts forecast that Energy Transfer will post 1.46 EPS for the current year.

Hedge Funds Weigh In On Energy Transfer

Several large investors have recently added to or reduced their stakes in the business. Bank of Montreal Can boosted its holdings in Energy Transfer by 12,090.8% during the 4th quarter. Bank of Montreal Can now owns 12,455,613 shares of the pipeline company’s stock worth $244,005,000 after acquiring an additional 12,353,441 shares during the last quarter. Alps Advisors Inc. lifted its position in shares of Energy Transfer by 12.9% during the first quarter. Alps Advisors Inc. now owns 75,353,994 shares of the pipeline company’s stock valued at $1,400,831,000 after purchasing an additional 8,613,645 shares in the last quarter. FMR LLC boosted its holdings in Energy Transfer by 15.7% during the fourth quarter. FMR LLC now owns 38,634,018 shares of the pipeline company’s stock worth $756,840,000 after purchasing an additional 5,254,721 shares during the last quarter. Commerce Bank bought a new stake in Energy Transfer in the 1st quarter worth about $92,607,000. Finally, Zurich Insurance Group Ltd FI bought a new stake in Energy Transfer in the 4th quarter worth about $79,113,000. Institutional investors own 38.22% of the company’s stock.

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.