TECO Energy’s Neutral Rating Reaffirmed at Zacks (TE)
TECO Energy (NYSE:TE)‘s stock had its “neutral” rating reaffirmed by Zacks in a report released on Thursday, AnalystRatingsNetwork.com reports. They currently have a $18.00 price target on the stock. Zacks‘ target price would suggest a potential upside of 4.47% from the company’s current price.
Zacks‘ analyst wrote, “We have maintained our Neutral recommendation on TECO Energy based on regulatory hurdles for underground coal mines, fluctuating commodity prices, changes in energy demand due to variance in weather conditions and unfavorable performance in the second quarter of 2013. In the previous quarter, TECO Energy’s earnings per share and revenues marginally missed the Zacks Consensus Estimates primarily due to lower contribution from the company’s unregulated segment. However, going forward, key growth drivers for the company include gradual improvement in Florida’s economy, an increase in customer count at the company’s Tampa Electric and People Gas businesses and a reduced unemployment level, which could benefit forthcoming performance. “
TECO Energy (NYSE:TE) traded down 0.41% during mid-day trading on Thursday, hitting $17.16. 669,348 shares of the company’s stock traded hands. TECO Energy has a 52-week low of $16.12 and a 52-week high of $19.22. The stock’s 50-day moving average is $17.00 and its 200-day moving average is $17.59. The company has a market cap of $3.729 billion and a P/E ratio of 20.39.
TECO Energy (NYSE:TE) last released its earnings data on Thursday, August 1st. The company reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by $0.02. The company had revenue of $735.90 million for the quarter, compared to the consensus estimate of $726.15 million. During the same quarter in the previous year, the company posted $0.34 earnings per share. The company’s revenue for the quarter was down 2.2% on a year-over-year basis. Analysts expect that TECO Energy will post $0.94 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Ameriprise Financial initiated coverage on shares of TECO Energy in a research note to investors on Monday, October 7th. They set a “buy” rating on the stock. Separately, analysts at Deutsche Bank raised their price target on shares of TECO Energy from $16.50 to $17.00 in a research note to investors on Wednesday, October 2nd. They now have a “hold” rating on the stock. Finally, analysts at Deutsche Bank reiterated a “hold” rating on shares of TECO Energy in a research note to investors on Friday, August 2nd. They now have a $16.50 price target on the stock. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $17.71.
TECO Energy, Inc (NYSE:TE) is a holding company for regulated utilities and other businesses.
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