Energy Transfer Equity, L.P. (ETE) to Post Q3 2017 Earnings of $0.22 Per Share, Jefferies Group Forecasts

Energy Transfer Equity, L.P. (NYSE:ETE) – Jefferies Group cut their Q3 2017 earnings per share estimates for shares of Energy Transfer Equity, L.P. in a research note issued to investors on Monday, according to Zacks Investment Research. Jefferies Group analyst C. Sighinolfi now expects that the pipeline company will post earnings of $0.22 per share for the quarter, down from their previous forecast of $0.24. Jefferies Group currently has a “Buy” rating and a $20.00 price objective on the stock. Jefferies Group also issued estimates for Energy Transfer Equity, L.P.’s Q4 2017 earnings at $0.21 EPS, Q1 2018 earnings at $0.35 EPS, Q2 2018 earnings at $0.35 EPS, Q3 2018 earnings at $0.36 EPS, Q4 2018 earnings at $0.35 EPS, FY2018 earnings at $1.41 EPS, FY2020 earnings at $1.61 EPS and FY2021 earnings at $1.78 EPS.

Energy Transfer Equity, L.P. (NYSE:ETE) last posted its quarterly earnings data on Tuesday, November 7th. The pipeline company reported $0.22 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by ($0.12). The company had revenue of $9.47 billion for the quarter, compared to analyst estimates of $16.25 billion. Energy Transfer Equity, L.P. had a return on equity of 3.84% and a net margin of 2.29%. The company’s quarterly revenue was up 23.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.19 earnings per share.

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A number of other research firms also recently issued reports on ETE. Stifel Nicolaus restated a “buy” rating and set a $20.00 target price on shares of Energy Transfer Equity, L.P. in a research report on Thursday, October 12th. BMO Capital Markets set a $19.00 price objective on shares of Energy Transfer Equity, L.P. and gave the stock a “hold” rating in a research report on Thursday, October 12th. Zacks Investment Research upgraded shares of Energy Transfer Equity, L.P. from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 1st. BidaskClub downgraded shares of Energy Transfer Equity, L.P. from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. Finally, Royal Bank of Canada reiterated a “buy” rating and issued a $22.00 price objective on shares of Energy Transfer Equity, L.P. in a research report on Wednesday, September 6th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Energy Transfer Equity, L.P. presently has a consensus rating of “Buy” and a consensus target price of $21.63.

Energy Transfer Equity, L.P. (NYSE ETE) traded down $0.04 during midday trading on Thursday, reaching $17.47. 4,118,700 shares of the company were exchanged, compared to its average volume of 5,329,124. The firm has a market capitalization of $18,896.53, a P/E ratio of 20.84 and a beta of 1.90. Energy Transfer Equity, L.P. has a 52 week low of $15.03 and a 52 week high of $20.05. The company has a quick ratio of 1.09, a current ratio of 1.36 and a debt-to-equity ratio of 1.69.

Several hedge funds have recently added to or reduced their stakes in the company. Cadence Capital Management LLC purchased a new stake in shares of Energy Transfer Equity, L.P. during the third quarter worth about $13,356,000. HITE Hedge Asset Management LLC increased its stake in shares of Energy Transfer Equity, L.P. by 719.4% during the third quarter. HITE Hedge Asset Management LLC now owns 495,458 shares of the pipeline company’s stock worth $8,611,000 after purchasing an additional 434,993 shares in the last quarter. Evergreen Capital Management LLC purchased a new stake in shares of Energy Transfer Equity, L.P. during the third quarter worth about $753,000. Iberiabank Corp purchased a new stake in shares of Energy Transfer Equity, L.P. during the third quarter worth about $187,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of Energy Transfer Equity, L.P. by 4.1% during the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 10,597,720 shares of the pipeline company’s stock worth $184,188,000 after purchasing an additional 416,462 shares in the last quarter. 48.50% of the stock is owned by institutional investors and hedge funds.

The business also recently announced a quarterly dividend, which will be paid on Monday, November 20th. Stockholders of record on Tuesday, November 7th will be paid a dividend of $0.295 per share. The ex-dividend date of this dividend is Monday, November 6th. This represents a $1.18 dividend on an annualized basis and a dividend yield of 6.75%. This is a boost from Energy Transfer Equity, L.P.’s previous quarterly dividend of $0.29. Energy Transfer Equity, L.P.’s payout ratio is currently 143.90%.

Energy Transfer Equity, L.P. 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.

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Earnings History and Estimates for Energy Transfer Equity, L.P. (NYSE:ETE)

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