TECO Energy Rating Lowered to Underperform at Macquarie (TE)
TECO Energy (NYSE:TE) was downgraded by analysts at Macquarie from a “neutral” rating to an “underperform” rating in a research report issued to clients and investors on Monday, TheFlyOnTheWall.com reports.
Shares of TECO Energy (NYSE:TE) opened at 16.96 on Monday. TECO Energy has a 52 week low of $16.15 and a 52 week high of $19.22. The stock’s 50-day moving average is $17.09 and its 200-day moving average is $17.06. The company has a market cap of $3.685 billion and a P/E ratio of 18.38.
TECO Energy (NYSE:TE) last announced its earnings results on Thursday, October 31st. The company reported $0.29 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.33 by $0.04. The company had revenue of $765.90 million for the quarter, compared to the consensus estimate of $818.70 million. During the same quarter in the prior year, the company posted $0.42 earnings per share. The company’s quarterly revenue was down 10.8% on a year-over-year basis. On average, analysts predict that TECO Energy will post $0.93 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on TE. Analysts at Deutsche Bank reiterated a “hold” rating on shares of TECO Energy in a research note to investors on Wednesday, December 11th. They now have a $18.00 price target on the stock, up previously from $17.00. Separately, analysts at TheStreet upgraded shares of TECO Energy to a “buy” rating in a research note to investors on Thursday, November 7th. Finally, analysts at CRT Capital initiated coverage on shares of TECO Energy in a research note to investors on Tuesday, November 5th. They set a “fair value” rating on the stock. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $17.86.
TECO Energy, Inc (NYSE:TE) is a holding company for regulated utilities and other businesses.
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