Energy Transfer Equity, L.P. (NYSE:ETE) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Tuesday.

According to Zacks, “Energy Transfer Equity, L.P. owns a diversified portfolio of energy assets, including natural gas operations consisting miles of natural gas gathering and transportation pipelines, natural gas treating and processing assets located in Texas and Louisiana, and three natural gas storage facilities located in Texas. “

ETE has been the topic of several other reports. Royal Bank Of Canada reissued a “buy” rating and issued a $22.00 price objective on shares of Energy Transfer Equity, L.P. in a research report on Wednesday, September 6th. Stifel Nicolaus began coverage on Energy Transfer Equity, L.P. in a research report on Thursday, July 13th. They issued a “buy” rating and a $20.00 price objective on the stock. BidaskClub lowered Energy Transfer Equity, L.P. from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. BMO Capital Markets set a $19.00 price objective on Energy Transfer Equity, L.P. and gave the company a “hold” rating in a research report on Friday, August 18th. Finally, Sanford C. Bernstein reissued an “outperform” rating on shares of Energy Transfer Equity, L.P. in a research report on Thursday, August 10th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $21.30.

Shares of Energy Transfer Equity, L.P. (NYSE:ETE) traded down 0.53% during midday trading on Tuesday, hitting $16.82. The stock had a trading volume of 8,185,162 shares. Energy Transfer Equity, L.P. has a 12-month low of $13.77 and a 12-month high of $20.05. The stock has a market cap of $18.15 billion, a P/E ratio of 21.21 and a beta of 1.90. The stock has a 50-day moving average price of $17.63 and a 200-day moving average price of $17.60.

Energy Transfer Equity, L.P. (NYSE:ETE) last released its quarterly earnings data on Tuesday, August 8th. The pipeline company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.07). Energy Transfer Equity, L.P. had a net margin of 2.18% and a return on equity of 3.79%. The company had revenue of $8.94 billion during the quarter, compared to analysts’ expectations of $11.41 billion. During the same period last year, the business earned $0.23 earnings per share. The company’s revenue for the quarter was up 20.5% compared to the same quarter last year. Equities analysts forecast that Energy Transfer Equity, L.P. will post $1.24 earnings per share for the current year.

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Several institutional investors have recently made changes to their positions in ETE. Bank of New York Mellon Corp grew its stake in shares of Energy Transfer Equity, L.P. by 104.4% during the first quarter. Bank of New York Mellon Corp now owns 311,102 shares of the pipeline company’s stock valued at $6,138,000 after acquiring an additional 158,876 shares in the last quarter. Alliancebernstein L.P. grew its stake in shares of Energy Transfer Equity, L.P. by 38.7% during the first quarter. Alliancebernstein L.P. now owns 213,900 shares of the pipeline company’s stock valued at $4,220,000 after acquiring an additional 59,673 shares in the last quarter. Oppenheimer Asset Management Inc. acquired a new stake in shares of Energy Transfer Equity, L.P. during the first quarter valued at about $869,000. Nuveen Asset Management LLC grew its stake in shares of Energy Transfer Equity, L.P. by 27.6% during the first quarter. Nuveen Asset Management LLC now owns 44,887 shares of the pipeline company’s stock valued at $886,000 after acquiring an additional 9,703 shares in the last quarter. Finally, Private Trust Co. NA grew its stake in shares of Energy Transfer Equity, L.P. by 17.0% during the second quarter. Private Trust Co. NA now owns 13,515 shares of the pipeline company’s stock valued at $242,000 after acquiring an additional 1,960 shares in the last quarter. Institutional investors own 48.48% of the company’s stock.

Energy Transfer Equity, L.P. Company Profile

Energy Transfer Equity, L.P. (ETE) owns equity interests in Energy Transfer Partners, L.P. (ETP) and Sunoco LP, which are engaged in diversified energy-related services. The Company’s segments include Investment in ETP, including the consolidated operations of ETP; Investment in Sunoco LP, including the consolidated operations of Sunoco LP; Investment in Lake Charles LNG, including the operations of Lake Charles LNG, and Corporate and Other.

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Analyst Recommendations for Energy Transfer Equity, L.P. (NYSE:ETE)

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