Stock analysts at Bank of America started coverage on shares of Energy Transfer Equity (NYSE:ETE) in a research note issued on Tuesday, January 9th, The Fly reports. The firm set a “neutral” rating on the pipeline company’s stock.
Several other equities research analysts also recently weighed in on ETE. Stifel Nicolaus reiterated a “buy” rating and issued a $20.00 price target on shares of Energy Transfer Equity in a report on Thursday, October 12th. BMO Capital Markets set a $19.00 price objective on Energy Transfer Equity and gave the stock a “hold” rating in a research note on Thursday, October 12th. Jefferies Group reaffirmed a “buy” rating and set a $20.00 target price on shares of Energy Transfer Equity in a research report on Monday, October 16th. Goldman Sachs Group raised Energy Transfer Equity from a “neutral” rating to a “buy” rating and set a $23.00 target price on the stock in a research report on Tuesday, October 17th. Finally, Zacks Investment Research cut Energy Transfer Equity from a “hold” rating to a “sell” rating in a research report on Tuesday, October 17th. One analyst has rated the stock with a sell rating, five have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Energy Transfer Equity presently has a consensus rating of “Buy” and an average target price of $21.78.
Energy Transfer Equity (NYSE:ETE) traded down $0.70 during trading hours on Tuesday, hitting $17.48. The company had a trading volume of 6,813,046 shares, compared to its average volume of 5,200,000. The company has a quick ratio of 1.11, a current ratio of 1.36 and a debt-to-equity ratio of 1.69. The stock has a market capitalization of $18,860.00, a P/E ratio of 16.81 and a beta of 1.81. Energy Transfer Equity has a 12 month low of $15.03 and a 12 month high of $19.85.
Energy Transfer Equity (NYSE:ETE) last posted its earnings results on Tuesday, November 7th. The pipeline company reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.12). Energy Transfer Equity had a return on equity of 3.84% and a net margin of 2.29%. The firm had revenue of $9.47 billion during the quarter, compared to analysts’ expectations of $16.25 billion. During the same quarter in the prior year, the firm posted $0.19 earnings per share. Energy Transfer Equity’s quarterly revenue was up 23.0% on a year-over-year basis. equities research analysts predict that Energy Transfer Equity will post 0.99 earnings per share for the current year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. ING Groep NV acquired a new stake in shares of Energy Transfer Equity during the 3rd quarter valued at about $189,859,000. Balyasny Asset Management LLC grew its position in shares of Energy Transfer Equity by 321.1% during the 2nd 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 period. Harvest Fund Advisors LLC grew its position in shares of Energy Transfer Equity by 9.4% during the 3rd quarter. Harvest Fund Advisors LLC now owns 45,684,871 shares of the pipeline company’s stock valued at $794,003,000 after acquiring an additional 3,914,284 shares during the period. JPMorgan Chase & Co. boosted its holdings in Energy Transfer Equity by 241.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,626,626 shares of the pipeline company’s stock worth $80,549,000 after buying an additional 3,270,434 shares during the last quarter. Finally, Delphi Financial Group Inc. acquired a new stake in Energy Transfer Equity in the 4th quarter worth about $25,892,000. Institutional investors and hedge funds own 51.22% 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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