Energy Transfer Equity L.P. (ETE) Shares Up 1.2%
Energy Transfer Equity L.P. (NYSE:ETE)’s share price shot up 1.2% during trading on Tuesday . The company traded as high as $18.32 and last traded at $18.04, with a volume of 4,430,131 shares. The stock had previously closed at $17.82.
A number of research firms recently commented on ETE. Jefferies Group lifted their price objective on Energy Transfer Equity L.P. from $17.00 to $20.00 and gave the stock a “buy” rating in a research note on Monday, July 25th. Sanford C. Bernstein started coverage on Energy Transfer Equity L.P. in a report on Wednesday, May 11th. They set a “market perform” rating and a $15.00 price objective for the company. Vetr downgraded Energy Transfer Equity L.P. from a “strong-buy” rating to a “buy” rating and set a $14.22 price objective for the company. in a report on Wednesday, June 1st. Credit Suisse Group AG restated an “outperform” rating and set a $20.00 price objective on shares of Energy Transfer Equity L.P. in a report on Tuesday, July 26th. Finally, Morgan Stanley started coverage on Energy Transfer Equity L.P. in a report on Monday. They set an “overweight” rating and a $20.00 price objective for the company. Eight equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $17.35.
The company has a market capitalization of $18.57 billion and a price-to-earnings ratio of 16.16. The stock has a 50 day moving average of $16.25 and a 200 day moving average of $11.49.
Energy Transfer Equity L.P. (NYSE:ETE) last issued its earnings results on Wednesday, August 3rd. The company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.29 by $0.06. The company earned $9.34 billion during the quarter, compared to the consensus estimate of $8.09 billion. Energy Transfer Equity L.P.’s revenue for the quarter was down 19.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.28 EPS. Analysts forecast that Energy Transfer Equity L.P. will post $1.05 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, August 19th. Investors of record on Monday, August 8th will be issued a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a yield of 6.44%. The ex-dividend date is Thursday, August 4th.
Other large investors have added to or reduced their stakes in the company. C.V. Starr & Co. Inc. Trust boosted its stake in Energy Transfer Equity L.P. by 3.3% in the fourth quarter. C.V. Starr & Co. Inc. Trust now owns 620,000 shares of the company’s stock valued at $8,519,000 after buying an additional 20,000 shares during the period. Stephens Inc. AR boosted its stake in Energy Transfer Equity L.P. by 3.4% in the fourth quarter. Stephens Inc. AR now owns 593,500 shares of the company’s stock valued at $8,155,000 after buying an additional 19,421 shares during the period. Marshall Wace LLP acquired a new stake in Energy Transfer Equity L.P. during the fourth quarter valued at $4,748,000. Eaton Vance Management boosted its stake in Energy Transfer Equity L.P. by 13.6% in the fourth quarter. Eaton Vance Management now owns 436,015 shares of the company’s stock valued at $5,991,000 after buying an additional 52,300 shares during the period. Finally, Advantus Capital Management Inc acquired a new stake in Energy Transfer Equity L.P. during the fourth quarter valued at $1,047,000.
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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