Zacks Investment Research lowered shares of Energy Transfer Equity, L.P. (NYSE:ETE) from a hold rating to a sell rating in a research note published on Tuesday morning.

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 research analysts also recently issued research reports about the company. Stifel Nicolaus reissued a buy rating and issued a $20.00 price target on shares of Energy Transfer Equity, L.P. in a research note on Thursday, October 12th. Jefferies Group LLC lowered their target price on Energy Transfer Equity, L.P. from $21.00 to $20.00 and set a buy rating for the company in a report on Sunday, September 10th. Royal Bank Of Canada restated a buy rating and issued a $22.00 price objective on shares of Energy Transfer Equity, L.P. in a report on Wednesday, September 6th. Deutsche Bank AG decreased their price objective on Energy Transfer Equity, L.P. from $23.00 to $22.00 and set a buy rating for the company in a report on Wednesday, June 21st. Finally, Morgan Stanley upgraded Energy Transfer Equity, L.P. to a buy rating in a report on Wednesday, August 30th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and an average target price of $21.32.

Shares of Energy Transfer Equity, L.P. (NYSE ETE) opened at 17.74 on Tuesday. The firm’s 50-day moving average price is $17.60 and its 200 day moving average price is $17.68. Energy Transfer Equity, L.P. has a 52 week low of $13.77 and a 52 week high of $20.05. The company has a market cap of $19.14 billion, a P/E ratio of 22.37 and a beta of 1.90.

Energy Transfer Equity, L.P. (NYSE:ETE) last posted its quarterly earnings data on Tuesday, August 8th. The pipeline company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.07). Energy Transfer Equity, L.P. had a return on equity of 3.79% and a net margin of 2.18%. The firm had revenue of $8.94 billion for the quarter, compared to analyst estimates of $11.41 billion. During the same period in the prior year, the company posted $0.23 EPS. The firm’s quarterly revenue was up 20.5% compared to the same quarter last year. On average, equities analysts predict that Energy Transfer Equity, L.P. will post $1.24 EPS for the current fiscal year.

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A number of hedge funds have recently modified their holdings of the business. Neuberger Berman Group LLC grew its position in Energy Transfer Equity, L.P. by 2.1% in the 2nd quarter. Neuberger Berman Group LLC now owns 30,638,715 shares of the pipeline company’s stock worth $550,271,000 after purchasing an additional 639,558 shares in the last quarter. Bank of Montreal Can grew its position in shares of Energy Transfer Equity, L.P. by 35.9% during the 2nd quarter. Bank of Montreal Can now owns 23,022,988 shares of the pipeline company’s stock valued at $413,493,000 after acquiring an additional 6,078,618 shares during the period. Chickasaw Capital Management LLC grew its position in shares of Energy Transfer Equity, L.P. by 0.4% during the 2nd quarter. Chickasaw Capital Management LLC now owns 22,428,755 shares of the pipeline company’s stock valued at $402,820,000 after acquiring an additional 96,717 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of Energy Transfer Equity, L.P. by 11.6% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 10,181,258 shares of the pipeline company’s stock valued at $182,855,000 after acquiring an additional 1,062,038 shares during the period. Finally, Eagle Global Advisors LLC grew its position in shares of Energy Transfer Equity, L.P. by 0.5% during the 2nd quarter. Eagle Global Advisors LLC now owns 9,655,068 shares of the pipeline company’s stock valued at $173,405,000 after acquiring an additional 49,112 shares during the period. 48.43% of the stock is owned by institutional investors and hedge funds.

Energy Transfer Equity, L.P. Company Profile

Energy Transfer Equity, L.P. (ETE) owns equity interests in Energy Transfer Partners, L.P. (ETP) and Sunoco LP, which are engaged in diversified energy-related services. The Company’s segments include Investment in ETP, including the consolidated operations of ETP; Investment in Sunoco LP, including the consolidated operations of Sunoco LP; Investment in Lake Charles LNG, including the operations of Lake Charles LNG, and Corporate and Other.

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

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