Energy Transfer (NYSE:ET) Given New $25.00 Price Target at JPMorgan Chase & Co.

Key Points

• JPMorgan raised Energy Transfer’s price target from $24 to $25 while maintaining an “overweight” rating, implying 16.8% potential upside from the reported $21.41 share price. Analysts overall give the stock a “Moderate Buy” consensus rating with a $24.17 average target.
• Energy Transfer reported quarterly EPS of $0.59, exceeding the $0.38 consensus estimate, while revenue rose 78.4% year over year to $34.33 billion.
• Insiders have been buying shares: company directors purchased more than 1 million shares worth approximately $21.5 million over the past 90 days.

Energy Transfer (NYSE:ET - Get Free Report) had its price target boosted by research analysts at JPMorgan Chase & Co. from $24.00 to $25.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has an "overweight" rating on the pipeline company's stock. JPMorgan Chase & Co.'s price target suggests a potential upside of 16.80% from the company's current price.

Several other analysts have also issued reports on the company. TD Cowen restated a "buy" rating and issued a $25.00 price objective (up from $24.00) on shares of Energy Transfer in a research note on Monday, August 10th. Jefferies Financial Group reiterated a "buy" rating on shares of Energy Transfer in a research note on Wednesday, August 5th. Royal Bank Of Canada restated an "outperform" rating and issued a $23.00 price target (up from $21.00) on shares of Energy Transfer in a research note on Tuesday, July 21st. Citigroup reaffirmed a "buy" rating and set a $24.00 price target (up from $23.00) on shares of Energy Transfer in a report on Friday, August 7th. Finally, UBS Group reaffirmed a "buy" rating on shares of Energy Transfer in a research report on Tuesday, May 12th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $24.17.

Energy Transfer Stock Down 0.2%

Shares of NYSE ET traded down $0.04 during trading hours on Friday, hitting $21.41. The company had a trading volume of 2,518,169 shares, compared to its average volume of 12,905,345. Energy Transfer has a 1-year low of $16.18 and a 1-year high of $21.77. The company has a quick ratio of 0.94, a current ratio of 1.16 and a debt-to-equity ratio of 1.45. The firm's 50 day moving average is $20.41 and its 200-day moving average is $19.62. The stock has a market capitalization of $73.70 billion, a P/E ratio of 14.55, a price-to-earnings-growth ratio of 0.73 and a beta of 0.57.

Energy Transfer (NYSE:ET - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The pipeline company reported $0.59 EPS for the quarter, beating analysts' consensus estimates of $0.38 by $0.21. Energy Transfer had a net margin of 4.87% and a return on equity of 11.55%. The company had revenue of $34.33 billion during the quarter, compared to the consensus estimate of $27.71 billion. During the same quarter last year, the firm posted $0.32 EPS. The company's quarterly revenue was up 78.4% on a year-over-year basis. On average, analysts expect that Energy Transfer will post 1.7 earnings per share for the current fiscal year.

Insider Transactions at Energy Transfer

In other Energy Transfer news, Director James Perry bought 12,359 shares of the firm's stock in a transaction on Friday, August 7th. The shares were purchased at an average price of $20.23 per share, for a total transaction of $250,022.57. Following the transaction, the director directly owned 208,046 shares in the company, valued at approximately $4,208,770.58. This trade represents a 6.32% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kelcy L. Warren purchased 647,968 shares of the company's stock in a transaction dated Wednesday, August 19th. The stock was acquired at an average price of $21.26 per share, with a total value of $13,775,799.68. Following the completion of the transaction, the director owned 147,901,879 shares of the company's stock, valued at $3,144,393,947.54. This represents a 0.44% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders have purchased 1,012,359 shares of company stock worth $21,513,543. 3.28% of the stock is owned by insiders.

Hedge Funds Weigh In On Energy Transfer

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Basepoint Wealth LLC acquired a new stake in shares of Energy Transfer during the 4th quarter worth $25,000. Osbon Capital Management LLC bought a new stake in Energy Transfer during the second quarter worth about $25,000. Gables Capital Management Inc. grew its stake in Energy Transfer by 60.0% during the fourth quarter. Gables Capital Management Inc. now owns 1,600 shares of the pipeline company's stock worth $26,000 after buying an additional 600 shares in the last quarter. Sarver Vrooman Wealth Advisors acquired a new stake in Energy Transfer during the fourth quarter worth about $32,000. Finally, Cassaday & Co Wealth Management LLC bought a new position in Energy Transfer in the 1st quarter valued at about $35,000. 38.22% of the stock is owned by institutional investors and hedge funds.

Energy Transfer Company Profile

Energy Transfer NYSE: ET is a Dallas-based midstream energy company that develops and operates infrastructure for the transportation, storage and processing of hydrocarbons. The company's operations focus on moving and storing natural gas, natural gas liquids (NGLs), crude oil and refined products through an integrated network of pipelines, terminals, storage facilities and processing plants. Energy Transfer provides core midstream services such as gathering, compression, fractionation, processing, and bulk transportation to support production and downstream supply chains.

Its asset base spans an extensive network across the United States, connecting producing regions, processing centers, petrochemical hubs and coastal and inland markets.

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