Energy Transfer Equity L.P. (NYSE:ETE) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Tuesday.

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. “

Several other equities research analysts have also issued reports on ETE. 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 report on Monday, June 13th. Jefferies Group reaffirmed a “buy” rating on shares of Energy Transfer Equity L.P. in a research report on Monday, June 27th. Barclays PLC reaffirmed an “overweight” rating and set a $20.00 target price on shares of Energy Transfer Equity L.P. in a research report on Tuesday, July 5th. Deutsche Bank AG initiated coverage on Energy Transfer Equity L.P. in a research report on Thursday, July 7th. They set a “buy” rating and a $20.00 target price for the company. Finally, Goldman Sachs Group Inc. reaffirmed a “neutral” rating and set a $17.00 target price on shares of Energy Transfer Equity L.P. in a research report on Wednesday, July 13th. Nine investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $18.70.

Analyst Recommendations for Energy Transfer Equity L.P. (NYSE:ETE)

Energy Transfer Equity L.P. (NYSE:ETE) traded down 2.32% on Tuesday, reaching $15.97. The company had a trading volume of 4,585,594 shares. The stock has a market capitalization of $16.75 billion, a P/E ratio of 14.58 and a beta of 1.61. The stock’s 50-day moving average price is $17.23 and its 200-day moving average price is $14.27. Energy Transfer Equity L.P. has a 12-month low of $4.00 and a 12-month high of $24.23.

Energy Transfer Equity L.P. (NYSE:ETE) last released its quarterly earnings results on Wednesday, August 3rd. The company reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by $0.06. The company earned $9.34 billion during the quarter, compared to analysts’ expectations of $8.09 billion. Energy Transfer Equity L.P. had a net margin of 3.09% and a return on equity of 6.46%. The company’s quarterly revenue was down 19.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.28 earnings per share. On average, equities research analysts anticipate that Energy Transfer Equity L.P. will post $0.99 EPS for the current fiscal year.

Hedge funds have recently added to or reduced their stakes in the stock. Raymond James Trust N.A. boosted its stake in Energy Transfer Equity L.P. by 7.5% in the third quarter. Raymond James Trust N.A. now owns 15,156 shares of the company’s stock valued at $254,000 after buying an additional 1,062 shares during the last quarter. Searle & CO. acquired a new stake in Energy Transfer Equity L.P. during the third quarter valued at $162,000. Advisory Services Network LLC boosted its stake in Energy Transfer Equity L.P. by 3.2% in the third quarter. Advisory Services Network LLC now owns 8,220 shares of the company’s stock valued at $138,000 after buying an additional 254 shares during the last quarter. Norman Fields Gottscho Capital Management LLC acquired a new stake in Energy Transfer Equity L.P. during the third quarter valued at $201,000. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in Energy Transfer Equity L.P. by 55.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 7,588 shares of the company’s stock valued at $109,000 after buying an additional 2,696 shares during the last quarter. 44.11% of the stock is currently owned by hedge funds and other institutional investors.

About Energy Transfer Equity L.P.

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.

5 Day Chart for NYSE:ETE

Receive News & Stock Ratings for Energy Transfer Equity L.P. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Energy Transfer Equity L.P. and related stocks with our FREE daily email newsletter.