Energy Transfer Equity, L.P. (NYSE:ETE) Stock Rating Upgraded by Morgan Stanley

Energy Transfer Equity, L.P. (NYSE:ETE) was upgraded by Morgan Stanley to a “buy” rating in a report released on Wednesday, August 30th.

Several other analysts also recently weighed in on the company. Sanford C. Bernstein upgraded Energy Transfer Equity, L.P. from a “market perform” rating to an “outperform” rating and increased their target price for the company from $19.00 to $23.00 in a research note on Wednesday, May 10th. Deutsche Bank AG decreased their target price on Energy Transfer Equity, L.P. from $23.00 to $22.00 and set a “buy” rating for the company in a research note on Wednesday, June 21st. Royal Bank Of Canada restated a “buy” rating and set a $22.00 target price on shares of Energy Transfer Equity, L.P. in a research note on Tuesday, May 23rd. Wolfe Research restated a “market perform” rating on shares of Energy Transfer Equity, L.P. in a research note on Friday, May 12th. Finally, Zacks Investment Research downgraded Energy Transfer Equity, L.P. from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 25th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $20.68.

Shares of Energy Transfer Equity, L.P. (NYSE ETE) traded down 0.06% during midday trading on Wednesday, reaching $17.49. 4,874,811 shares of the company traded hands. The stock has a market capitalization of $18.87 billion, a P/E ratio of 22.06 and a beta of 1.90. Energy Transfer Equity, L.P. has a 1-year low of $13.77 and a 1-year high of $20.05. The stock’s 50-day moving average is $17.30 and its 200-day moving average is $17.87.

Energy Transfer Equity, L.P. (NYSE:ETE) last issued its quarterly earnings data on Tuesday, August 8th. The pipeline company reported $0.18 EPS for the quarter, missing the Zacks’ consensus estimate of $0.25 by ($0.07). Energy Transfer Equity, L.P. had a net margin of 2.18% and a return on equity of 3.79%. The company 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 business’s revenue was up 20.5% on a year-over-year basis. Equities analysts predict that Energy Transfer Equity, L.P. will post $1.30 EPS for the current fiscal year.

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A number of hedge funds have recently added to or reduced their stakes in the stock. Advisory Services Network LLC increased its holdings in Energy Transfer Equity, L.P. by 12.6% during the 2nd quarter. Advisory Services Network LLC now owns 9,331 shares of the pipeline company’s stock valued at $168,000 after purchasing an additional 1,047 shares in the last quarter. Westwood Holdings Group Inc. increased its stake in shares of Energy Transfer Equity, L.P. by 92.3% in the 2nd quarter. Westwood Holdings Group Inc. now owns 517,505 shares of the pipeline company’s stock valued at $9,294,000 after buying an additional 248,410 shares during the period. Linscomb & Williams Inc. increased its stake in shares of Energy Transfer Equity, L.P. by 0.5% in the 2nd quarter. Linscomb & Williams Inc. now owns 38,658 shares of the pipeline company’s stock valued at $694,000 after buying an additional 188 shares during the period. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Energy Transfer Equity, L.P. in the 2nd quarter valued at $19,811,000. Finally, Castleton Investment Management LLC increased its stake in shares of Energy Transfer Equity, L.P. by 25.0% in the 2nd quarter. Castleton Investment Management LLC now owns 50,000 shares of the pipeline company’s stock valued at $898,000 after buying an additional 10,000 shares during the period. 48.44% of the stock is owned by hedge funds and other institutional investors.

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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