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.
Energy Transfer Equity (NYSE:ETE) last announced its quarterly earnings data on Tuesday, November 7th. The pipeline company reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.12). The business had revenue of $9.47 billion during the quarter, compared to analyst estimates of $16.25 billion. Energy Transfer Equity had a net margin of 2.29% and a return on equity of 3.84%. The firm’s revenue for the quarter was up 23.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.19 earnings per share. equities research analysts forecast that Energy Transfer Equity will post 0.99 EPS for the current fiscal year.
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.