Energy Transfer Equity LP Unit (ETE) Receives New Coverage from Analysts at Goldman Sachs Group

Goldman Sachs Group began coverage on shares of Energy Transfer Equity LP Unit (NYSE:ETE) in a research report sent to investors on Monday, The Fly reports. The firm issued a buy rating and a $23.00 price target on the pipeline company’s stock.

ETE has been the subject of a number of other reports. Zacks Investment Research raised Energy Transfer Equity LP Unit from a hold rating to a buy rating and set a $20.00 price objective for the company in a research note on Tuesday, July 24th. ValuEngine raised Energy Transfer Equity LP Unit from a sell rating to a hold rating in a research note on Friday, June 15th. Morgan Stanley lifted their price objective on Energy Transfer Equity LP Unit from $19.00 to $21.00 and gave the stock a buy rating in a research note on Friday, August 3rd. Stifel Nicolaus reaffirmed a buy rating and set a $21.00 price objective (up from $19.00) on shares of Energy Transfer Equity LP Unit in a research note on Friday, August 10th. Finally, Stephens raised Energy Transfer Equity LP Unit from an equal weight rating to an overweight rating and lifted their price objective for the stock from $20.00 to $23.00 in a research note on Thursday, August 2nd. One analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have issued a buy rating to the company. Energy Transfer Equity LP Unit has a consensus rating of Buy and a consensus price target of $20.69.

ETE stock opened at $17.31 on Monday. The firm has a market cap of $20.19 billion, a PE ratio of 14.31 and a beta of 1.91. Energy Transfer Equity LP Unit has a twelve month low of $12.80 and a twelve month high of $19.34. The company has a quick ratio of 0.76, a current ratio of 0.99 and a debt-to-equity ratio of 1.46.

Energy Transfer Equity LP Unit (NYSE:ETE) last announced its quarterly earnings data on Wednesday, August 8th. The pipeline company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.15). Energy Transfer Equity LP Unit had a return on equity of 5.50% and a net margin of 2.60%. The company had revenue of $14.12 billion for the quarter, compared to analyst estimates of $12.63 billion. During the same period last year, the firm earned $0.18 earnings per share. The firm’s revenue for the quarter was up 49.8% on a year-over-year basis. On average, equities research analysts predict that Energy Transfer Equity LP Unit will post 2.08 earnings per share for the current fiscal year.

In other Energy Transfer Equity LP Unit news, Director Richard D. Brannon bought 100,000 shares of the firm’s stock in a transaction on Tuesday, September 11th. The stock was purchased at an average cost of $17.68 per share, with a total value of $1,768,000.00. Following the completion of the purchase, the director now owns 92,619 shares in the company, valued at $1,637,503.92. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Richard D. Brannon bought 25,000 shares of the firm’s stock in a transaction on Thursday, September 6th. The stock was acquired at an average cost of $17.53 per share, with a total value of $438,250.00. Following the completion of the purchase, the director now owns 57,619 shares of the company’s stock, valued at approximately $1,010,061.07. The disclosure for this purchase can be found here. 3.28% of the stock is currently owned by insiders.

Large investors have recently bought and sold shares of the business. Centaurus Financial Inc. acquired a new position in Energy Transfer Equity LP Unit in the second quarter valued at about $171,000. PNC Financial Services Group Inc. grew its stake in Energy Transfer Equity LP Unit by 1.0% in the second quarter. PNC Financial Services Group Inc. now owns 646,012 shares of the pipeline company’s stock valued at $11,146,000 after acquiring an additional 6,206 shares during the period. First Western Capital Management Co boosted its position in shares of Energy Transfer Equity LP Unit by 33.9% during the second quarter. First Western Capital Management Co now owns 31,668 shares of the pipeline company’s stock worth $546,000 after buying an additional 8,020 shares during the period. Angelo Gordon & CO. L.P. acquired a new position in shares of Energy Transfer Equity LP Unit during the second quarter worth about $43,125,000. Finally, Jennison Associates LLC boosted its position in shares of Energy Transfer Equity LP Unit by 11.2% during the second quarter. Jennison Associates LLC now owns 1,377,559 shares of the pipeline company’s stock worth $23,763,000 after buying an additional 138,415 shares during the period. 44.40% of the stock is owned by hedge funds and other institutional investors.

Energy Transfer Equity LP Unit Company Profile

Energy Transfer Equity, L.P. provides diversified energy-related services in the United States. It owns and operates approximately 7,900 miles of natural gas transportation pipelines and three natural gas storage facilities in Texas; and approximately 11,800 miles of interstate natural gas pipelines.

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Analyst Recommendations for Energy Transfer Equity LP Unit (NYSE:ETE)

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