Analysts at Credit Suisse Group initiated coverage on shares of Energy Transfer Equity (NYSE:ETE) in a research report issued to clients and investors on Thursday, The Fly reports. The firm set an “outperform” rating on the pipeline company’s stock.
A number of other research analysts also recently weighed in on ETE. Jefferies Group dropped their price target on Energy Transfer Equity from $21.00 to $20.00 and set a “buy” rating on the stock in a research note on Sunday, September 10th. Mizuho reaffirmed a “buy” rating and set a $21.00 price target on shares of Energy Transfer Equity in a research note on Friday, October 20th. Zacks Investment Research raised Energy Transfer Equity from a “sell” rating to a “hold” rating in a research note on Tuesday, October 24th. BMO Capital Markets set a $19.00 price objective on Energy Transfer Equity and gave the stock a “hold” rating in a report on Thursday, October 12th. Finally, Robert W. Baird reissued a “buy” rating and set a $24.00 price objective on shares of Energy Transfer Equity in a report on Friday, October 27th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. Energy Transfer Equity has an average rating of “Buy” and an average price target of $21.78.
Shares of Energy Transfer Equity (NYSE ETE) traded down $0.26 on Thursday, reaching $17.56. The company’s stock had a trading volume of 3,425,357 shares, compared to its average volume of 5,120,000. The firm has a market cap of $18,950.00, a P/E ratio of 16.88 and a beta of 1.87. Energy Transfer Equity has a 52-week low of $15.03 and a 52-week high of $20.05. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.36 and a quick ratio of 1.11.
Several hedge funds have recently modified their holdings of the stock. Harvest Fund Advisors LLC raised its position in shares of Energy Transfer Equity by 9.4% in the third quarter. Harvest Fund Advisors LLC now owns 45,684,871 shares of the pipeline company’s stock worth $794,003,000 after buying an additional 3,914,284 shares in the last quarter. Atlantic Trust Group LLC increased its stake in Energy Transfer Equity by 8.7% in the third quarter. Atlantic Trust Group LLC now owns 13,290,034 shares of the pipeline company’s stock valued at $230,980,000 after acquiring an additional 1,060,430 shares during the last quarter. ING Groep NV bought a new position in Energy Transfer Equity in the third quarter valued at $189,859,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in Energy Transfer Equity by 4.1% in the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 10,597,720 shares of the pipeline company’s stock valued at $184,188,000 after acquiring an additional 416,462 shares during the last quarter. Finally, Balyasny Asset Management LLC increased its stake in Energy Transfer Equity by 321.1% in the second quarter. Balyasny Asset Management LLC now owns 8,650,000 shares of the pipeline company’s stock valued at $155,354,000 after acquiring an additional 6,595,679 shares during the last quarter. Institutional investors own 51.53% of the company’s stock.
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About Energy Transfer Equity
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.
