Energy Transfer Equity (ETE) Lowered to “Sell” at ValuEngine

ValuEngine downgraded shares of Energy Transfer Equity (NYSE:ETE) from a hold rating to a sell rating in a report published on Friday morning.

Several other research firms have also recently weighed in on ETE. Zacks Investment Research cut Energy Transfer Equity from a hold rating to a sell rating in a report on Wednesday, January 10th. Credit Suisse Group initiated coverage on Energy Transfer Equity in a report on Thursday, January 4th. They issued an outperform rating and a $23.00 target price on the stock. Bank of America decreased their target price on Energy Transfer Equity from $19.00 to $17.00 and set a neutral rating on the stock in a report on Tuesday, March 27th. Royal Bank of Canada reaffirmed a buy rating and issued a $22.00 target price on shares of Energy Transfer Equity in a report on Tuesday, January 16th. Finally, Wolfe Research raised Energy Transfer Equity from a market perform rating to an outperform rating in a report on Monday, December 18th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have assigned a buy rating to the company. The company presently has a consensus rating of Buy and an average target price of $20.82.

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NYSE ETE opened at $14.19 on Friday. The firm has a market cap of $15,507.33, a PE ratio of 11.73 and a beta of 1.87. The company has a current ratio of 1.35, a quick ratio of 1.10 and a debt-to-equity ratio of 1.48. Energy Transfer Equity has a 1-year low of $12.80 and a 1-year high of $19.55.

Energy Transfer Equity (NYSE:ETE) last released its quarterly earnings results on Wednesday, February 21st. The pipeline company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.09. The firm had revenue of $11.45 billion for the quarter, compared to analysts’ expectations of $12.20 billion. Energy Transfer Equity had a return on equity of 4.48% and a net margin of 2.30%. analysts forecast that Energy Transfer Equity will post 1.35 EPS for the current fiscal year.

A number of institutional investors have recently made changes to their positions in the stock. Stifel Financial Corp increased its stake in Energy Transfer Equity by 1.0% in the 3rd quarter. Stifel Financial Corp now owns 551,270 shares of the pipeline company’s stock worth $9,586,000 after buying an additional 5,420 shares in the last quarter. Allianz Asset Management GmbH increased its stake in Energy Transfer Equity by 1.9% in the 3rd quarter. Allianz Asset Management GmbH now owns 340,680 shares of the pipeline company’s stock worth $5,921,000 after buying an additional 6,480 shares in the last quarter. Oppenheimer Asset Management Inc. increased its stake in Energy Transfer Equity by 8.5% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 54,034 shares of the pipeline company’s stock worth $939,000 after buying an additional 4,249 shares in the last quarter. Cohen & Steers Inc. increased its stake in Energy Transfer Equity by 65.9% in the 3rd quarter. Cohen & Steers Inc. now owns 629,660 shares of the pipeline company’s stock worth $10,943,000 after buying an additional 250,222 shares in the last quarter. Finally, Gen IV Investment Opportunities LLC increased its stake in Energy Transfer Equity by 87.7% in the 3rd quarter. Gen IV Investment Opportunities LLC now owns 1,494,213 shares of the pipeline company’s stock worth $25,969,000 after buying an additional 698,213 shares in the last quarter. 49.04% of the stock is currently owned by institutional investors.

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About Energy Transfer Equity

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.

Analyst Recommendations for Energy Transfer Equity (NYSE:ETE)

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