Energy Transfer Equity L.P. (ETE) Receives Average Rating of “Buy” from Brokerages
Energy Transfer Equity L.P. (NYSE:ETE) has been given an average recommendation of “Buy” by the nineteen ratings firms that are presently covering the company. Nine research analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $18.75.
ETE has been the topic of several recent analyst reports. Vetr downgraded Energy Transfer Equity L.P. from a “strong-buy” rating to a “buy” rating and set a $14.22 target price on the stock. in a research note on Monday, June 20th. Zacks Investment Research upgraded Energy Transfer Equity L.P. from a “hold” rating to a “buy” rating and set a $18.00 price target on the stock in a research note on Monday, July 18th. Credit Suisse Group AG restated an “outperform” rating and issued a $20.00 price target on shares of Energy Transfer Equity L.P. in a research note on Tuesday, July 26th. Wolfe Research began coverage on Energy Transfer Equity L.P. in a research note on Friday, October 7th. They issued a “hold” rating and a $17.00 price target on the stock. Finally, Jefferies Group raised their price target on Energy Transfer Equity L.P. from $17.00 to $20.00 and gave the stock a “buy” rating in a research note on Monday, July 25th.
A number of large investors have recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. boosted its stake in Energy Transfer Equity L.P. by 55.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 7,588 shares of the company’s stock worth $109,000 after buying an additional 2,696 shares in the last quarter. Advisory Services Network LLC boosted its stake in shares of Energy Transfer Equity L.P. by 3.2% in the third quarter. Advisory Services Network LLC now owns 8,220 shares of the company’s stock valued at $138,000 after buying an additional 254 shares during the period. Feltz Wealth PLAN Inc. purchased a new stake in shares of Energy Transfer Equity L.P. during the second quarter valued at about $141,000. Bessemer Group Inc. purchased a new stake in shares of Energy Transfer Equity L.P. during the first quarter valued at about $144,000. Finally, BB&T Corp purchased a new stake in shares of Energy Transfer Equity L.P. during the second quarter valued at about $144,000. 44.11% of the stock is currently owned by institutional investors and hedge funds.
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Shares of Energy Transfer Equity L.P. (NYSE:ETE) traded down 2.1616% during trading on Wednesday, reaching $15.6248. The company’s stock had a trading volume of 3,222,367 shares. The company has a market cap of $16.39 billion, a PE ratio of 14.2692 and a beta of 1.61. Energy Transfer Equity L.P. has a 12-month low of $4.00 and a 12-month high of $23.71. The company has a 50 day moving average of $17.18 and a 200 day moving average of $14.28.
Energy Transfer Equity L.P. (NYSE:ETE) last issued its earnings results on Wednesday, August 3rd. The company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.29 by $0.06. Energy Transfer Equity L.P. had a net margin of 3.09% and a return on equity of 6.46%. The business had revenue of $9.34 billion for the quarter, compared to analysts’ expectations of $8.09 billion. During the same quarter in the prior year, the business posted $0.28 earnings per share. The business’s revenue for the quarter was down 19.4% on a year-over-year basis. On average, analysts anticipate that Energy Transfer Equity L.P. will post $0.99 EPS for the current fiscal year.
Energy Transfer Equity L.P. Company Profile
Energy Transfer Equity, L.P. (ETE) directly and indirectly owns equity interests in Energy Transfer Partners, L.P. (ETP) and SUN LP, which are engaged in diversified energy-related services. The Company, through its family of companies, owns and operates over 71,000 miles of natural gas, natural gas liquids (NGL), refined products and crude oil pipelines.
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