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Eli

Eli

Research Analyst at JPMorgan Chase & Co.

Cainta, PH

Eli Lustgarten is an Executive Director and Senior Equity Research Analyst at JPMorgan Chase & Co., specializing in the coverage of industrials and machinery sectors. He tracks major companies including Caterpillar, Deere & Co., AGCO, and Cummins, with a consistent record of accurate stock recommendations and top percentile performance rankings on industry analyst platforms, maintaining a success rate close to 60% and delivering strong average returns to clients. Eli started his Wall Street career in the early 1990s, holding research positions at firms such as H.C. Wainwright & Co. and Longbow Research before joining JPMorgan in 2021. He holds FINRA Series 7, 63, and 86/87 licenses and has been recognized in Institutional Investor’s All-America Research Team rankings for his incisive industrial sector insights.

Eli's questions to Energy Transfer (ET) leadership

Question · Q3 2025

Eli asked about the financial impact of Energy Transfer's recent data center deals, considering the partnership's overall size. He also sought insight into the high-level drivers for the company's performance in 2026, covering both base business and organic growth projects.

Answer

Mackie McCrea (Co-CEO) expressed excitement about data centers, highlighting confidentiality, $25 billion in demand-pull contracts, and the strategic importance of the Hugh Brinson Pipeline. Dylan Bramhall (Group CFO) outlined 2026 drivers, including the full impact of Flexport, continued growth from Permian plants, new plant construction, NGL line and fractionator growth, and the upcoming Frac IX.

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