Energy Transfer Equity LP (NYSE:ETE) – Equities research analysts at Jefferies Group lifted their Q1 2018 earnings per share estimates for Energy Transfer Equity in a research note issued on Wednesday, according to Zacks Investment Research. Jefferies Group analyst C. Sighinolfi now forecasts that the pipeline company will post earnings of $0.41 per share for the quarter, up from their prior forecast of $0.35. Jefferies Group currently has a “Buy” rating and a $20.00 price objective on the stock. Jefferies Group also issued estimates for Energy Transfer Equity’s Q2 2018 earnings at $0.47 EPS, Q3 2018 earnings at $0.47 EPS and Q4 2018 earnings at $0.47 EPS.
Energy Transfer Equity (NYSE:ETE) last announced its quarterly earnings data on Tuesday, November 7th. The pipeline company reported $0.22 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by ($0.12). The firm had revenue of $9.47 billion during the quarter, compared to the consensus estimate of $16.25 billion. Energy Transfer Equity had a net margin of 2.29% and a return on equity of 3.84%. The firm’s quarterly revenue was up 23.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.19 earnings per share.
Several other equities analysts have also commented on ETE. Stifel Nicolaus reaffirmed a “buy” rating and set a $20.00 target price on shares of Energy Transfer Equity in a report on Thursday, October 12th. BMO Capital Markets set a $19.00 target price on Energy Transfer Equity and gave the company a “hold” rating in a report on Thursday, October 12th. Goldman Sachs Group raised Energy Transfer Equity from a “neutral” rating to a “buy” rating and set a $23.00 target price for the company in a report on Tuesday, October 17th. Zacks Investment Research lowered Energy Transfer Equity from a “hold” rating to a “sell” rating in a report on Tuesday, October 17th. Finally, Mizuho reaffirmed a “buy” rating and set a $21.00 target price on shares of Energy Transfer Equity in a report on Friday, October 20th. Two analysts have rated the stock with a sell rating, four have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $21.78.
Shares of Energy Transfer Equity (ETE) traded up $0.20 during trading on Thursday, reaching $18.03. The company had a trading volume of 4,246,500 shares, compared to its average volume of 5,200,000. The company has a market capitalization of $19,460.00, a price-to-earnings ratio of 17.34 and a beta of 1.87. Energy Transfer Equity has a 1 year low of $15.03 and a 1 year high of $19.85. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.11 and a current ratio of 1.36.
A number of hedge funds have recently modified their holdings of ETE. ING Groep NV bought a new position in Energy Transfer Equity in the 3rd quarter worth approximately $189,859,000. Balyasny Asset Management LLC grew its holdings in Energy Transfer Equity by 321.1% in the 2nd quarter. Balyasny Asset Management LLC now owns 8,650,000 shares of the pipeline company’s stock worth $155,354,000 after buying an additional 6,595,679 shares in the last quarter. Harvest Fund Advisors LLC grew its holdings in Energy Transfer Equity by 9.4% in the 3rd quarter. Harvest Fund Advisors LLC now owns 45,684,871 shares of the pipeline company’s stock worth $794,003,000 after buying an additional 3,914,284 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Energy Transfer Equity by 241.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,626,626 shares of the pipeline company’s stock worth $80,549,000 after buying an additional 3,270,434 shares in the last quarter. Finally, Wells Fargo & Company MN grew its holdings in Energy Transfer Equity by 87.8% in the 2nd quarter. Wells Fargo & Company MN now owns 2,672,496 shares of the pipeline company’s stock worth $47,998,000 after buying an additional 1,249,443 shares in the last quarter. 51.53% of the stock is owned by institutional investors and hedge funds.
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Energy Transfer Equity Company Profile
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.
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