Energy Transfer Equity (ETE) Earns Outperform Rating from Analysts at Credit Suisse Group

Credit Suisse Group began coverage on shares of Energy Transfer Equity (NYSE:ETE) in a report released on Thursday. The brokerage set an “outperform” rating on the pipeline company’s stock.

A number of other research firms also recently issued reports on ETE. Stifel Nicolaus reissued a “buy” rating and issued a $20.00 price target on shares of Energy Transfer Equity in a research note on Thursday, October 12th. BMO Capital Markets set a $19.00 price target on shares of Energy Transfer Equity and gave the stock a “hold” rating in a research note on Thursday, October 12th. Royal Bank of Canada reissued a “buy” rating and issued a $22.00 price target on shares of Energy Transfer Equity in a research note on Wednesday, September 6th. Jefferies Group decreased their price target on shares of Energy Transfer Equity from $21.00 to $20.00 and set a “buy” rating for the company in a research note on Sunday, September 10th. Finally, Goldman Sachs Group raised shares of Energy Transfer Equity from a “neutral” rating to a “buy” rating and set a $23.00 price target for the company in a research note on Tuesday, October 17th. One research analyst has rated the stock with a sell rating, four have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $21.78.

Shares of Energy Transfer Equity (NYSE:ETE) traded down $0.26 during trading hours on Thursday, hitting $17.56. 3,405,100 shares of the stock traded hands, compared to its average volume of 5,120,000. The company has a market capitalization of $18,950.00, a P/E ratio of 16.88 and a beta of 1.87. The company has a current ratio of 1.36, a quick ratio of 1.11 and a debt-to-equity ratio of 1.69. Energy Transfer Equity has a 52-week low of $15.03 and a 52-week high of $20.05.

Energy Transfer Equity (NYSE:ETE) last released its quarterly earnings results on Tuesday, November 7th. The pipeline company reported $0.22 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate 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 company had revenue of $9.47 billion during the quarter, compared to the consensus estimate of $16.25 billion. During the same period in the previous year, the company earned $0.19 earnings per share. Energy Transfer Equity’s quarterly revenue was up 23.0% on a year-over-year basis. equities research analysts expect that Energy Transfer Equity will post 0.99 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Harvest Fund Advisors LLC increased its stake in shares of Energy Transfer Equity by 9.4% during the third quarter. Harvest Fund Advisors LLC now owns 45,684,871 shares of the pipeline company’s stock valued at $794,003,000 after purchasing an additional 3,914,284 shares in the last quarter. Atlantic Trust Group LLC increased its stake in shares of Energy Transfer Equity by 8.7% during the third quarter. Atlantic Trust Group LLC now owns 13,290,034 shares of the pipeline company’s stock valued at $230,980,000 after purchasing an additional 1,060,430 shares in the last quarter. ING Groep NV bought a new position in shares of Energy Transfer Equity during the third quarter valued at approximately $189,859,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of Energy Transfer Equity 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 valued at $184,188,000 after purchasing an additional 416,462 shares in the last quarter. Finally, Balyasny Asset Management LLC increased its stake in shares of Energy Transfer Equity by 321.1% during the second quarter. Balyasny Asset Management LLC now owns 8,650,000 shares of the pipeline company’s stock valued at $155,354,000 after purchasing an additional 6,595,679 shares in the last quarter. 51.53% of the stock is owned by institutional investors and hedge funds.

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Energy Transfer Equity 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.

Analyst Recommendations for Energy Transfer Equity (NYSE:ETE)

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