According to Zacks, “Energy Transfer Equity, L.P. owns a diversified portfolio of energy assets, including natural gas operations consisting miles of natural gas gathering and transportation pipelines, natural gas treating and processing assets located in Texas and Louisiana, and three natural gas storage facilities located in Texas. “
Other equities research analysts have also recently issued research reports about the stock. Jefferies Group upped their price objective on shares of Energy Transfer Equity L.P. from $17.00 to $20.00 and gave the stock a buy rating in a research report on Monday, July 25th. Credit Suisse Group AG reaffirmed an outperform rating and set a $20.00 price objective on shares of Energy Transfer Equity L.P. in a research report on Tuesday, July 26th. Goldman Sachs Group Inc. reaffirmed a neutral rating and set a $17.00 price objective on shares of Energy Transfer Equity L.P. in a research report on Wednesday, July 13th. Deutsche Bank AG assumed coverage on Energy Transfer Equity L.P. in a research note on Thursday, July 7th. They set a buy rating and a $20.00 target price for the company. Finally, Vetr raised Energy Transfer Equity L.P. from a hold rating to a buy rating and set a $14.22 target price for the company in a research note on Monday, June 13th. Nine equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The company has an average rating of Buy and an average price target of $18.70.
Energy Transfer Equity L.P. (NYSE:ETE) opened at 15.66 on Tuesday. Energy Transfer Equity L.P. has a 52 week low of $4.00 and a 52 week high of $23.71. The company has a market cap of $16.43 billion, a price-to-earnings ratio of 14.30 and a beta of 1.61. The stock has a 50 day moving average of $17.03 and a 200 day moving average of $14.30.
Energy Transfer Equity L.P. (NYSE:ETE) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported $0.23 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.29 by $0.06. Energy Transfer Equity L.P. had a return on equity of 6.46% and a net margin of 3.09%. The firm had revenue of $9.34 billion for the quarter, compared to the consensus estimate of $8.09 billion. During the same period in the prior year, the company earned $0.28 EPS. The company’s revenue for the quarter was down 19.4% compared to the same quarter last year. Equities research analysts predict that Energy Transfer Equity L.P. will post $0.99 earnings per share for the current fiscal year.
A number of hedge funds have recently added to or reduced their stakes in ETE. Cohen Capital Management Inc. increased its stake in Energy Transfer Equity L.P. by 5.9% in the third quarter. Cohen Capital Management Inc. now owns 82,100 shares of the company’s stock worth $1,378,000 after buying an additional 4,600 shares in the last quarter. Highland Capital Management LLC acquired a new position in Energy Transfer Equity L.P. during the third quarter worth about $680,000. MSI Financial Services Inc boosted its position in Energy Transfer Equity L.P. by 6.3% in the third quarter. MSI Financial Services Inc now owns 50,514 shares of the company’s stock worth $848,000 after buying an additional 2,975 shares during the last quarter. Fox Run Management L.L.C. acquired a new position in Energy Transfer Equity L.P. during the third quarter worth about $371,000. Finally, Grassi Investment Management boosted its position in Energy Transfer Equity L.P. by 6.8% in the third quarter. Grassi Investment Management now owns 21,350 shares of the company’s stock worth $358,000 after buying an additional 1,350 shares during the last quarter. 44.11% of the stock is owned by institutional investors and hedge funds.
Energy Transfer Equity L.P. Company Profile
Energy Transfer Equity, L.P. (ETE) directly and indirectly owns equity interests in Energy Transfer Partners, L.P. (ETP) and SUN LP, which are engaged in diversified energy-related services. The Company, through its family of companies, owns and operates over 71,000 miles of natural gas, natural gas liquids (NGL), refined products and crude oil pipelines.
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