Energy Transfer Equity LP (NYSE:ETE)‘s stock had its “outperform” rating reaffirmed by investment analysts at Sanford C. Bernstein in a report issued on Thursday.
Other equities research analysts also recently issued research reports about the company. Zacks Investment Research downgraded Energy Transfer Equity from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 25th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $22.00 target price on shares of Energy Transfer Equity in a report on Tuesday, May 23rd. Stifel Nicolaus began coverage on Energy Transfer Equity in a report on Thursday, July 13th. They set a “buy” rating and a $20.00 target price for the company. BidaskClub raised Energy Transfer Equity from a “sell” rating to a “hold” rating in a report on Monday, July 3rd. Finally, BMO Capital Markets reaffirmed a “hold” rating and set a $19.00 target price on shares of Energy Transfer Equity in a report on Monday, April 17th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $20.72.
Shares of Energy Transfer Equity (ETE) opened at 16.99 on Thursday. Energy Transfer Equity has a 52-week low of $13.77 and a 52-week high of $20.05. The stock has a market cap of $18.27 billion, a price-to-earnings ratio of 30.78 and a beta of 1.90. The stock’s 50 day moving average is $17.58 and its 200 day moving average is $18.14. Energy Transfer Equity also was the target of unusually large options trading on Wednesday. Stock investors acquired 19,918 call options on the stock. This is an increase of approximately 329% compared to the typical volume of 4,644 call options.
Energy Transfer Equity (NYSE:ETE) last issued its quarterly earnings results on Tuesday, August 8th. The pipeline company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.25 by $0.07. The business had revenue of $8.94 billion during the quarter, compared to analyst estimates of $11.41 billion. The business’s quarterly revenue was up 20.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.23 earnings per share. On average, equities analysts predict that Energy Transfer Equity will post $1.19 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Penserra Capital Management LLC bought a new position in shares of Energy Transfer Equity during the second quarter valued at $106,000. Ffcm LLC boosted its position in shares of Energy Transfer Equity by 226.7% in 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 in the last quarter. Botty Investors LLC bought a new position in shares of Energy Transfer Equity during the first quarter valued at $144,000. Sei Investments Co. boosted its position in shares of Energy Transfer Equity by 6.1% in 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 in the last quarter. Finally, Advisory Services Network LLC bought a new position in shares of Energy Transfer Equity during the first quarter valued at $163,000. Institutional investors own 50.41% of the company’s stock.
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.
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