Energy Transfer Equity (NYSE:ETE) was upgraded by analysts at Wolfe Research from a “market perform” rating to an “outperform” rating in a note issued to investors on Monday, The Fly reports.
Other research analysts have also issued research reports about the company. Jefferies Group dropped their price target on Energy Transfer Equity from $21.00 to $20.00 and set a “buy” rating for the company in a research report on Sunday, September 10th. Stifel Nicolaus reissued a “buy” rating and issued a $20.00 price objective on shares of Energy Transfer Equity in a research note on Thursday, October 12th. Zacks Investment Research raised shares of Energy Transfer Equity from a “sell” rating to a “hold” rating in a research note on Tuesday, October 24th. Morgan Stanley reissued an “overweight” rating on shares of Energy Transfer Equity in a research note on Tuesday, September 5th. Finally, BMO Capital Markets set a $19.00 price target on shares of Energy Transfer Equity and gave the company a “hold” rating in a research note on Thursday, October 12th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $21.78.
Shares of Energy Transfer Equity (NYSE ETE) traded up $0.07 during trading on Monday, reaching $16.77. The company had a trading volume of 6,782,700 shares, compared to its average volume of 5,311,525. Energy Transfer Equity has a one year low of $15.03 and a one year high of $20.05. The company has a market cap of $18,097.93, a PE ratio of 19.96 and a beta of 1.86. The company has a current ratio of 1.36, a quick ratio of 1.11 and a debt-to-equity ratio of 1.69.
Institutional investors and hedge funds have recently made changes to their positions in the company. Penserra Capital Management LLC purchased a new stake in shares of Energy Transfer Equity during the second quarter valued at $106,000. Ffcm LLC grew its holdings in shares of Energy Transfer Equity by 226.7% during the second quarter. Ffcm LLC now owns 6,273 shares of the pipeline company’s stock valued at $114,000 after buying an additional 4,353 shares during the last quarter. AllSquare Wealth Management LLC purchased a new stake in shares of Energy Transfer Equity during the third quarter valued at $139,000. Sei Investments Co. grew its holdings in shares of Energy Transfer Equity by 6.1% during the second quarter. Sei Investments Co. now owns 8,700 shares of the pipeline company’s stock valued at $156,000 after buying an additional 500 shares during the last quarter. Finally, Advisory Services Network LLC boosted its holdings in Energy Transfer Equity by 12.6% in the second quarter. Advisory Services Network LLC now owns 9,331 shares of the pipeline company’s stock valued at $168,000 after purchasing an additional 1,047 shares during the last quarter. 51.53% of the stock is currently owned by hedge funds and other institutional investors.
COPYRIGHT VIOLATION WARNING: “Energy Transfer Equity (ETE) Rating Increased to Outperform at Wolfe Research” was reported by American Market News and is the sole property of of American Market News. If you are viewing this story on another site, it was copied illegally and reposted in violation of U.S. and international trademark & copyright laws. The legal version of this story can be read at https://www.americanbankingnews.com/2017/12/18/energy-transfer-equity-ete-rating-increased-to-outperform-at-wolfe-research.html.
Energy Transfer Equity 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.
