Energy Transfer Equity (ETE) Coverage Initiated by Analysts at Bank of America

Bank of America assumed coverage on shares of Energy Transfer Equity (NYSE:ETE) in a research report sent to investors on Tuesday morning, The Fly reports. The firm issued a neutral rating on the pipeline company’s stock.

Several other research analysts have also commented on the company. Zacks Investment Research lowered Energy Transfer Equity from a hold rating to a sell rating in a research report on Tuesday, October 17th. Goldman Sachs Group upgraded Energy Transfer Equity from a neutral rating to a buy rating and set a $23.00 price objective for the company in a research report on Tuesday, October 17th. Wolfe Research upgraded Energy Transfer Equity from a market perform rating to an outperform rating in a research report on Monday, December 18th. Stifel Nicolaus restated a buy rating and set a $20.00 price objective on shares of Energy Transfer Equity in a research report on Thursday, October 12th. Finally, Robert W. Baird restated a buy rating and set a $24.00 price objective on shares of Energy Transfer Equity in a research report on Friday, October 27th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of Buy and a consensus price target of $21.88.

Shares of Energy Transfer Equity (NYSE:ETE) traded up $0.01 on Tuesday, hitting $17.30. The stock had a trading volume of 3,672,900 shares, compared to its average volume of 4,434,833. The firm has a market cap of $18,680.00, a price-to-earnings ratio of 16.63 and a beta of 1.87. The company has a current ratio of 1.36, a quick ratio of 1.11 and a debt-to-equity ratio of 1.69. Energy Transfer Equity has a one year low of $15.03 and a one year high of $19.85.

Energy Transfer Equity (NYSE:ETE) last issued its earnings results on Tuesday, November 7th. The pipeline company reported $0.22 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.12). The firm had revenue of $9.47 billion during the quarter, compared to analyst estimates of $16.25 billion. Energy Transfer Equity had a return on equity of 3.84% and a net margin of 2.29%. Energy Transfer Equity’s revenue was up 23.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.19 EPS. sell-side analysts forecast that Energy Transfer Equity will post 0.99 EPS for the current year.

A number of hedge funds have recently made changes to their positions in ETE. ING Groep NV acquired a new position in Energy Transfer Equity during the 3rd quarter worth $189,859,000. Balyasny Asset Management LLC raised its stake in shares of Energy Transfer Equity by 321.1% in the 2nd quarter. Balyasny Asset Management LLC now owns 8,650,000 shares of the pipeline company’s stock worth $155,354,000 after buying an additional 6,595,679 shares in the last quarter. Harvest Fund Advisors LLC raised its stake in shares of Energy Transfer Equity by 9.4% in the 3rd quarter. Harvest Fund Advisors LLC now owns 45,684,871 shares of the pipeline company’s stock worth $794,003,000 after buying an additional 3,914,284 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Energy Transfer Equity by 241.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,626,626 shares of the pipeline company’s stock worth $80,549,000 after buying an additional 3,270,434 shares in the last quarter. Finally, Wells Fargo & Company MN raised its stake in shares of Energy Transfer Equity by 87.8% in the 2nd quarter. Wells Fargo & Company MN now owns 2,672,496 shares of the pipeline company’s stock worth $47,998,000 after buying an additional 1,249,443 shares in the last quarter. Institutional investors own 51.53% of the company’s stock.

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Energy Transfer Equity 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.

The Fly

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