Energy Transfer Equity LP (NYSE:ETE) – Analysts at Jefferies Group increased their Q4 2017 earnings per share estimates for Energy Transfer Equity in a report issued on Wednesday. Jefferies Group analyst C. Sighinolfi now forecasts that the pipeline company will post earnings of $0.31 per share for the quarter, up from their previous estimate of $0.21. Jefferies Group has a “Buy” rating and a $20.00 price target on the stock. Jefferies Group also issued estimates for Energy Transfer Equity’s FY2018 earnings at $1.82 EPS, FY2019 earnings at $1.77 EPS, FY2020 earnings at $1.86 EPS and FY2021 earnings at $1.98 EPS.
Several other analysts have also recently issued reports on the company. Morgan Stanley upgraded Energy Transfer Equity to a “buy” rating in a report on Wednesday, August 30th. Royal Bank of Canada reiterated a “buy” rating and set a $22.00 price target on shares of Energy Transfer Equity in a report on Wednesday, September 6th. Zacks Investment Research cut Energy Transfer Equity from a “hold” rating to a “sell” rating in a report on Tuesday, October 17th. Goldman Sachs Group upgraded Energy Transfer Equity from a “neutral” rating to a “buy” rating and set a $23.00 price target for the company in a report on Tuesday, October 17th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $20.00 price target on shares of Energy Transfer Equity in a report on Thursday, October 12th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $21.78.
Energy Transfer Equity (NYSE:ETE) last issued its earnings results on Tuesday, November 7th. The pipeline company reported $0.22 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by ($0.12). The company had revenue of $9.47 billion during the quarter, compared to analysts’ expectations 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 quarterly revenue was up 23.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.19 earnings per share.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sei Investments Co. lifted its stake in Energy Transfer Equity by 6.1% during the 2nd quarter. Sei Investments Co. now owns 8,700 shares of the pipeline company’s stock worth $156,000 after acquiring an additional 500 shares in the last quarter. Beach Investment Management LLC. lifted its stake in Energy Transfer Equity by 1,660.7% during the 2nd quarter. Beach Investment Management LLC. now owns 728,208 shares of the pipeline company’s stock worth $13,079,000 after acquiring an additional 686,848 shares in the last quarter. Jennison Associates LLC lifted its stake in Energy Transfer Equity by 18.3% during the 2nd quarter. Jennison Associates LLC now owns 693,496 shares of the pipeline company’s stock worth $12,455,000 after acquiring an additional 107,269 shares in the last quarter. HITE Hedge Asset Management LLC acquired a new position in Energy Transfer Equity during the 2nd quarter worth about $1,086,000. Finally, Penserra Capital Management LLC acquired a new position in Energy Transfer Equity during the 2nd quarter worth about $106,000. Institutional investors and hedge funds 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.
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