Energy Transfer Equity LP Declares Quarterly Dividend of $0.38 (ETE)
Energy Transfer Equity (NYSE:ETE) announced a quarterly dividend on Thursday, July 24th, AnalystRatingsNetwork.com reports. Shareholders of record on Monday, August 4th will be paid a dividend of 0.38 per share on Tuesday, August 19th. This represents a $1.52 annualized dividend and a dividend yield of 2.60%.
A number of analysts have recently weighed in on ETE shares. Analysts at Deutsche Bank raised their price target on shares of Energy Transfer Equity from $53.00 to $67.00 in a research note on Friday, July 11th. They now have a “buy” rating on the stock. On the ratings front, analysts at Zacks upgraded shares of Energy Transfer Equity from a “neutral” rating to an “outperform” rating in a research note on Monday, July 7th. They now have a $62.20 price target on the stock. Finally, analysts at Wells Fargo & Co. upgraded shares of Energy Transfer Equity to an “outperform” rating in a research note on Wednesday, July 2nd. Seven investment analysts have rated the stock with a buy rating, The company currently has an average rating of “Buy” and an average target price of $60.70.
Energy Transfer Equity (NYSE:ETE) traded up 0.55% during mid-day trading on Thursday, hitting $58.85. The stock had a trading volume of 237,493 shares. Energy Transfer Equity has a 52-week low of $30.75 and a 52-week high of $60.58. The stock has a 50-day moving average of $56.1 and a 200-day moving average of $48.29. The company has a market cap of $32.821 billion and a P/E ratio of 119.94.
Energy Transfer Equity (NYSE:ETE) last announced its earnings results on Tuesday, May 6th. The company reported $0.30 earnings per share for the quarter, missing the analysts’ 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 last year, the company posted $0.32 earnings per share. Energy Transfer Equity’s revenue was up 17.0% compared to the same quarter last year. On average, analysts predict that Energy Transfer Equity will post $1.31 earnings per share for the current fiscal year.
Energy Transfer Equity, L.P. (NYSE:ETE) is a limited partnership company.
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