Energy Transfer Equity (ETE) Raised to “Outperform” at Wolfe Research

Energy Transfer Equity (NYSE:ETE) was upgraded by stock analysts at Wolfe Research from a “market perform” rating to an “outperform” rating in a note issued to investors on Monday, December 18th, The Fly reports.

ETE has been the topic of several other research reports. Goldman Sachs Group upgraded Energy Transfer Equity from a “neutral” rating to a “buy” rating and set a $23.00 target price on the stock in a research report on Tuesday, October 17th. Morgan Stanley upgraded Energy Transfer Equity to a “buy” rating in a research report on Wednesday, August 30th. Royal Bank of Canada reiterated a “buy” rating and set a $22.00 price objective on shares of Energy Transfer Equity in a research report on Wednesday, September 6th. Robert W. Baird reiterated a “buy” rating and set a $24.00 price objective on shares of Energy Transfer Equity in a research report on Friday, October 27th. Finally, Mizuho reiterated a “buy” rating and set a $21.00 price objective on shares of Energy Transfer Equity in a research report on Friday, October 20th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $21.78.

Shares of Energy Transfer Equity (NYSE:ETE) traded up $0.20 during mid-day trading on Monday, reaching $18.03. The company’s stock had a trading volume of 4,246,500 shares, compared to its average volume of 5,200,000. The stock has a market capitalization of $19,460.00, a P/E ratio of 17.34 and a beta of 1.87. Energy Transfer Equity has a 52 week low of $15.03 and a 52 week high of $19.85. The company has a quick ratio of 1.11, a current ratio of 1.36 and a debt-to-equity ratio of 1.69.

Energy Transfer Equity (NYSE:ETE) last released its earnings results on Tuesday, November 7th. The pipeline company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.12). The firm had revenue of $9.47 billion during the quarter, compared to analysts’ expectations of $16.25 billion. Energy Transfer Equity had a net margin of 2.29% and a return on equity of 3.84%. The business’s revenue was up 23.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.19 EPS. equities research analysts anticipate that Energy Transfer Equity will post 0.99 EPS for the current year.

Hedge funds have recently bought and sold shares of the business. Cohen & Steers Inc. increased its stake in Energy Transfer Equity by 65.9% during the third quarter. Cohen & Steers Inc. now owns 629,660 shares of the pipeline company’s stock worth $10,943,000 after acquiring an additional 250,222 shares during the last quarter. Harvest Fund Advisors LLC grew its stake in shares of Energy Transfer Equity by 9.4% in the third quarter. Harvest Fund Advisors LLC now owns 45,684,871 shares of the pipeline company’s stock valued at $794,003,000 after buying an additional 3,914,284 shares in the last quarter. Catalyst Capital Advisors LLC grew its stake in shares of Energy Transfer Equity by 20.4% in the third quarter. Catalyst Capital Advisors LLC now owns 435,168 shares of the pipeline company’s stock valued at $7,563,000 after buying an additional 73,798 shares in the last quarter. Jennison Associates LLC grew its stake in shares of Energy Transfer Equity by 18.3% in the second quarter. Jennison Associates LLC now owns 693,496 shares of the pipeline company’s stock valued at $12,455,000 after buying an additional 107,269 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Energy Transfer Equity by 0.8% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 905,000 shares of the pipeline company’s stock valued at $15,729,000 after buying an additional 7,000 shares in the last quarter. 51.53% of the stock is owned by institutional investors.

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About Energy Transfer Equity

Energy Transfer Equity, L.P. (ETE) owns equity interests in Energy Transfer Partners, L.P. (ETP) and Sunoco LP, which are engaged in diversified energy-related services. The Company’s segments include Investment in ETP, including the consolidated operations of ETP; Investment in Sunoco LP, including the consolidated operations of Sunoco LP; Investment in Lake Charles LNG, including the operations of Lake Charles LNG, and Corporate and Other.

The Fly

Analyst Recommendations for Energy Transfer Equity (NYSE:ETE)

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