Energy Transfer Equity L.P. (ETE) Given a $19.00 Price Target by BMO Capital Markets Analysts
Energy Transfer Equity L.P. (NYSE:ETE) received a $19.00 price target from research analysts at BMO Capital Markets in a report released on Thursday. The firm presently has a “hold” rating on the stock. BMO Capital Markets’ price objective indicates a potential upside of 9.83% from the company’s current price.
Several other research firms have also recently issued reports on ETE. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $21.00 price objective on shares of Energy Transfer Equity L.P. in a research report on Friday, September 2nd. Credit Suisse Group AG set a $20.00 price objective on Energy Transfer Equity L.P. and gave the company a “buy” rating in a research report on Tuesday, November 22nd. Morgan Stanley assumed coverage on Energy Transfer Equity L.P. in a report on Monday, August 15th. They set an “overweight” rating and a $20.00 price target on the stock. Jefferies Group reissued a “buy” rating and set a $20.00 price target on shares of Energy Transfer Equity L.P. in a report on Thursday, August 4th. Finally, Robert W. Baird raised Energy Transfer Equity L.P. from a “neutral” rating to an “outperform” rating and increased their price target for the company from $7.00 to $20.00 in a report on Monday, September 26th. Seven 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 $18.88.
Energy Transfer Equity L.P. (NYSE:ETE) opened at 17.30 on Thursday. The stock has a 50 day moving average price of $16.00 and a 200 day moving average price of $15.66. The stock has a market capitalization of $18.09 billion, a PE ratio of 17.18 and a beta of 1.81. Energy Transfer Equity L.P. has a 12 month low of $4.00 and a 12 month high of $19.99.
Energy Transfer Equity L.P. (NYSE:ETE) last released its quarterly earnings data on Wednesday, November 9th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by $0.04. The business earned $9.68 billion during the quarter, compared to the consensus estimate of $8.53 billion. Energy Transfer Equity L.P. had a net margin of 2.94% and a return on equity of 6.10%. The business’s revenue was down 8.8% compared to the same quarter last year. During the same period last year, the company posted $0.28 earnings per share. On average, equities research analysts forecast that Energy Transfer Equity L.P. will post $0.99 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, November 18th. Shareholders of record on Monday, November 7th were paid a $0.285 dividend. The ex-dividend date was Thursday, November 3rd. This represents a $1.14 dividend on an annualized basis and a yield of 6.59%. Energy Transfer Equity L.P.’s payout ratio is presently 111.77%.
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A number of large investors have recently modified their holdings of ETE. Northwestern Mutual Wealth Management Co. raised its position in shares of 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 worth $109,000 after buying an additional 2,696 shares during the last quarter. Advisory Services Network LLC raised its position in shares of 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 worth $138,000 after buying an additional 254 shares during the last quarter. Sei Investments Co. purchased a new position in shares of Energy Transfer Equity L.P. during the third quarter worth $138,000. Feltz Wealth PLAN Inc. purchased a new position in shares of Energy Transfer Equity L.P. during the second quarter worth $141,000. Finally, BB&T Corp purchased a new position in shares of Energy Transfer Equity L.P. during the second quarter worth $144,000. Institutional investors and hedge funds own 45.76% of the company’s stock.
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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