Energy Transfer Equity LP Unit (ETE) Given Consensus Rating of “Buy” by Brokerages

Shares of Energy Transfer Equity LP Unit (NYSE:ETE) have been assigned an average recommendation of “Buy” from the sixteen research firms that are presently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and eleven have given a buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $20.73.

A number of equities analysts have commented on the company. ValuEngine upgraded Energy Transfer Equity LP Unit from a “sell” rating to a “hold” rating in a research note on Friday, June 15th. Morgan Stanley lifted their target price on Energy Transfer Equity LP Unit from $19.00 to $21.00 and gave the company a “buy” rating in a research note on Friday, August 3rd. Stephens upgraded Energy Transfer Equity LP Unit from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $20.00 to $23.00 in a research note on Thursday, August 2nd. Zacks Investment Research upgraded Energy Transfer Equity LP Unit from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a research note on Wednesday, August 1st. Finally, Bank of America upgraded Energy Transfer Equity LP Unit from a “neutral” rating to a “buy” rating and set a $17.00 target price for the company in a research note on Thursday, May 17th.

Several hedge funds and other institutional investors have recently modified their holdings of ETE. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in shares of Energy Transfer Equity LP Unit during the second quarter worth approximately $229,053,000. Summit Trail Advisors LLC raised its holdings in Energy Transfer Equity LP Unit by 1,391.1% during the first quarter. Summit Trail Advisors LLC now owns 6,694,396 shares of the pipeline company’s stock worth $6,694,000 after purchasing an additional 6,245,435 shares in the last quarter. Atlantic Trust Group LLC raised its holdings in Energy Transfer Equity LP Unit by 29.2% during the first quarter. Atlantic Trust Group LLC now owns 17,384,956 shares of the pipeline company’s stock worth $247,039,000 after purchasing an additional 3,925,896 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Energy Transfer Equity LP Unit by 120.6% during the first quarter. JPMorgan Chase & Co. now owns 6,294,260 shares of the pipeline company’s stock worth $89,442,000 after purchasing an additional 3,440,988 shares in the last quarter. Finally, Zimmer Partners LP raised its holdings in Energy Transfer Equity LP Unit by 395.4% during the first quarter. Zimmer Partners LP now owns 3,499,298 shares of the pipeline company’s stock worth $49,725,000 after purchasing an additional 2,792,972 shares in the last quarter. Institutional investors and hedge funds own 47.84% of the company’s stock.

ETE stock traded up $0.02 during midday trading on Friday, reaching $17.40. The company had a trading volume of 7,354,868 shares, compared to its average volume of 5,102,877. The company has a quick ratio of 0.76, a current ratio of 0.99 and a debt-to-equity ratio of 1.46. Energy Transfer Equity LP Unit has a fifty-two week low of $12.80 and a fifty-two week high of $19.34. The company has a market cap of $20.98 billion, a P/E ratio of 14.33 and a beta of 1.90.

Energy Transfer Equity LP Unit (NYSE:ETE) last issued its earnings results on Wednesday, August 8th. The pipeline company reported $0.31 EPS for the quarter, missing the Zacks’ consensus estimate of $0.46 by ($0.15). Energy Transfer Equity LP Unit had a net margin of 2.60% and a return on equity of 5.50%. The company had revenue of $14.12 billion during the quarter, compared to analyst estimates of $12.63 billion. During the same quarter in the previous year, the firm earned $0.18 earnings per share. The business’s revenue was up 49.8% on a year-over-year basis. analysts expect that Energy Transfer Equity LP Unit will post 1.95 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 20th. Stockholders of record on Monday, August 6th will be given a dividend of $0.305 per share. The ex-dividend date of this dividend is Friday, August 3rd. This represents a $1.22 annualized dividend and a dividend yield of 7.01%. Energy Transfer Equity LP Unit’s dividend payout ratio is presently 100.83%.

Energy Transfer Equity LP Unit Company Profile

Energy Transfer Equity, L.P. provides diversified energy-related services in the United States. It owns and operates approximately 7,900 miles of natural gas transportation pipelines and three natural gas storage facilities in Texas; and approximately 11,800 miles of interstate natural gas pipelines.

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Analyst Recommendations for Energy Transfer Equity LP Unit (NYSE:ETE)

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