Today: Today, Energy Transfer Equity L.P. (ETE) PT Set at $19.00 by BMO Capital Markets

Today, Energy Transfer Equity L.P. (ETE) PT Set at $19.00 by BMO Capital Markets

Energy Transfer Equity L.P. (NYSE:ETE) received a $19.00 price objective from research analysts at BMO Capital Markets in a research report issued 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 stock’s previous close.

Other equities research analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $21.00 price target on shares of Energy Transfer Equity L.P. in a report on Friday, September 2nd. Credit Suisse Group AG set a $20.00 price target on shares of Energy Transfer Equity L.P. and gave the stock a “buy” rating in a report on Tuesday. Morgan Stanley started coverage on shares of Energy Transfer Equity L.P. in a report on Monday, August 15th. They issued an “overweight” rating and a $20.00 price target on the stock. Jefferies Group reaffirmed a “buy” rating and issued 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 shares of Energy Transfer Equity L.P. from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $7.00 to $20.00 in a report on Monday, September 26th. Seven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $18.88.

Shares of Energy Transfer Equity L.P. (NYSE:ETE) traded down 1.48% during midday trading on Thursday, hitting $17.30. The company’s stock had a trading volume of 1,543,574 shares. The firm has a market cap of $18.09 billion, a P/E ratio of 17.18 and a beta of 1.81. The stock’s 50 day moving average is $16.00 and its 200-day moving average is $15.66. Energy Transfer Equity L.P. has a 52-week low of $4.00 and a 52-week high of $19.99.

Energy Transfer Equity L.P. (NYSE:ETE) last posted its earnings results on Wednesday, November 9th. The company reported $0.19 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by $0.04. Energy Transfer Equity L.P. had a return on equity of 6.10% and a net margin of 2.94%. The firm had revenue of $9.68 billion for the quarter, compared to the consensus estimate of $8.53 billion. During the same period in the prior year, the business earned $0.28 EPS. Energy Transfer Equity L.P.’s quarterly revenue was down 8.8% compared to the same quarter last year. Equities analysts predict that Energy Transfer Equity L.P. will post $0.99 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, November 18th. Stockholders of record on Monday, November 7th were given a dividend of $0.285 per share. The ex-dividend date was Thursday, November 3rd. This represents a $1.14 dividend on an annualized basis and a dividend yield of 6.59%. Energy Transfer Equity L.P.’s dividend payout ratio (DPR) is currently 111.77%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Morgan Stanley raised its position in Energy Transfer Equity L.P. by 12.2% in the third quarter. Morgan Stanley now owns 58,387,085 shares of the company’s stock worth $980,320,000 after buying an additional 6,333,001 shares during the period. Harvest Fund Advisors LLC raised its position in Energy Transfer Equity L.P. by 24.5% in the second quarter. Harvest Fund Advisors LLC now owns 26,123,978 shares of the company’s stock worth $375,402,000 after buying an additional 5,140,966 shares during the period. FMR LLC raised its position in Energy Transfer Equity L.P. by 182.4% in the second quarter. FMR LLC now owns 25,784,300 shares of the company’s stock worth $370,520,000 after buying an additional 16,653,100 shares during the period. Chickasaw Capital Management LLC raised its position in Energy Transfer Equity L.P. by 27.3% in the third quarter. Chickasaw Capital Management LLC now owns 20,016,742 shares of the company’s stock worth $336,081,000 after buying an additional 4,298,398 shares during the period. Finally, Atlantic Trust Group LLC raised its position in Energy Transfer Equity L.P. by 12.4% in the second quarter. Atlantic Trust Group LLC now owns 10,586,735 shares of the company’s stock worth $152,132,000 after buying an additional 1,163,796 shares during the period. Hedge funds and other institutional investors own 45.76% of the company’s stock.

About Energy Transfer Equity L.P.

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