Energy Transfer Equity Upgraded by Zacks to “Outperform” (ETE)
Energy Transfer Equity (NYSE:ETE) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a research report issued on Monday. The firm currently has a $62.20 target price on the stock. Zacks‘s price target points to a potential upside of 6.76% from the company’s current price.
Energy Transfer Equity (NYSE:ETE) traded down 0.67% during mid-day trading on Monday, hitting $57.87. 583,133 shares of the company’s stock traded hands. Energy Transfer Equity has a 52-week low of $29.465 and a 52-week high of $60.58. The stock has a 50-day moving average of $53.59 and a 200-day moving average of $46.67. The company has a market cap of $32.274 billion and a P/E ratio of 119.39.
Energy Transfer Equity (NYSE:ETE) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by $0.07. The company had revenue of $13.08 billion for the quarter, compared to the consensus estimate of $12.52 billion. During the same quarter in the previous year, the company posted $0.32 earnings per share. The company’s revenue for the quarter was up 17.0% on a year-over-year basis. On average, analysts predict that Energy Transfer Equity will post $1.39 earnings per share for the current fiscal year.
ETE has been the subject of a number of other recent research reports. Analysts at Wells Fargo & Co. upgraded shares of Energy Transfer Equity to an “outperform” rating in a research note on Wednesday, July 2nd. Separately, analysts at Credit Suisse raised their price target on shares of Energy Transfer Equity from $56.00 to $60.00 in a research note on Thursday, June 26th. They now have an “outperform” rating on the stock. Finally, analysts at Morgan Stanley reiterated an “overweight” rating on shares of Energy Transfer Equity in a research note on Thursday, June 12th. They now have a $59.00 price target on the stock. Seven analysts have rated the stock with a buy rating, The company presently has a consensus rating of “Buy” and a consensus price target of $65.20.
Energy Transfer Equity, L.P. (NYSE:ETE) is a limited partnership company.
To view Zacks’ full report, visit Zacks’ official website.
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