Today, Jefferies Group Weighs in on Energy Transfer Equity L.P.’s FY2016 Earnings (ETE)

Today, Jefferies Group Weighs in on Energy Transfer Equity L.P.’s FY2016 Earnings (ETE)

Energy Transfer Equity L.P. (NYSE:ETE) – Investment analysts at Jefferies Group reduced their FY2016 earnings estimates for Energy Transfer Equity L.P. in a research report issued to clients and investors on Thursday. Jefferies Group analyst C. Sighinolfi now forecasts that the firm will earn $1.02 per share for the year, down from their previous forecast of $1.12. Jefferies Group has a “Buy” rating and a $20.00 price target on the stock. Jefferies Group also issued estimates for Energy Transfer Equity L.P.’s FY2017 earnings at $1.14 EPS.

Energy Transfer Equity L.P. (NYSE:ETE) last announced its earnings results on Wednesday, August 3rd. The company reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by $0.06. Energy Transfer Equity L.P. had a net margin of 3.09% and a return on equity of 6.46%. The firm had revenue of $9.34 billion for the quarter, compared to analyst estimates of $8.09 billion. During the same period last year, the firm earned $0.28 earnings per share. Energy Transfer Equity L.P.’s revenue for the quarter was down 19.4% compared to the same quarter last year.

A number of other brokerages have also weighed in on ETE. Zacks Investment Research lowered shares of Energy Transfer Equity L.P. from a “hold” rating to a “sell” rating in a report on Monday, September 26th. Stephens initiated coverage on shares of Energy Transfer Equity L.P. in a report on Thursday, September 29th. They issued an “equal weight” rating and a $20.00 price target for the company. Deutsche Bank AG initiated coverage on shares of Energy Transfer Equity L.P. in a report on Thursday, July 7th. They issued a “buy” rating and a $20.00 price target for the company. Robert W. Baird raised shares of Energy Transfer Equity L.P. from a “neutral” rating to an “outperform” rating and raised their price target for the company from $7.00 to $20.00 in a report on Monday, September 26th. Finally, Morgan Stanley started coverage on shares of Energy Transfer Equity L.P. in a research note on Monday, August 15th. They issued an “overweight” rating and a $20.00 price objective on the stock. Nine analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $18.70.

Energy Transfer Equity L.P. (NYSE:ETE) opened at 15.73 on Monday. The firm has a market capitalization of $16.50 billion, a P/E ratio of 14.37 and a beta of 1.61. Energy Transfer Equity L.P. has a 1-year low of $4.00 and a 1-year high of $23.32. The stock has a 50 day moving average of $16.90 and a 200-day moving average of $14.54.

A number of large investors have recently modified their holdings of the stock. Cohen Capital Management Inc. raised its stake in shares of Energy Transfer Equity L.P. by 5.9% in the third quarter. Cohen Capital Management Inc. now owns 82,100 shares of the company’s stock valued at $1,378,000 after buying an additional 4,600 shares during the last quarter. Highland Capital Management LLC acquired a new stake in shares of Energy Transfer Equity L.P. during the third quarter valued at about $680,000. MSI Financial Services Inc raised its stake in shares of Energy Transfer Equity L.P. by 6.3% in the third quarter. MSI Financial Services Inc now owns 50,514 shares of the company’s stock valued at $848,000 after buying an additional 2,975 shares during the last quarter. Fox Run Management L.L.C. acquired a new stake in shares of Energy Transfer Equity L.P. during the third quarter valued at about $371,000. Finally, Grassi Investment Management raised its stake in shares of Energy Transfer Equity L.P. by 6.8% in the third quarter. Grassi Investment Management now owns 21,350 shares of the company’s stock valued at $358,000 after buying an additional 1,350 shares during the last quarter. Hedge funds and other institutional investors own 44.05% of the company’s stock.

Energy Transfer Equity L.P. Company Profile

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