Trading Report: The Energy Transfer Equity L.P. (ETE) Given a $20.00 Price Target by Credit Suisse Group AG Analysts

The Energy Transfer Equity L.P. (ETE) Given a $20.00 Price Target by Credit Suisse Group AG Analysts

Credit Suisse Group AG set a $20.00 price objective on Energy Transfer Equity L.P. (NYSE:ETE) in a report released on Tuesday morning. The firm currently has a buy rating on the stock.

Several other research analysts have also weighed in on the stock. Sanford C. Bernstein raised shares of Energy Transfer Equity L.P. from a market perform rating to an outperform rating and set a $17.00 target price for the company in a research report on Monday, November 7th. Jefferies Group increased their target price on shares of Energy Transfer Equity L.P. from $17.00 to $20.00 and gave the stock a buy rating in a research report on Monday, July 25th. Zacks Investment Research downgraded shares of Energy Transfer Equity L.P. from a buy rating to a hold rating in a research report on Tuesday, July 26th. Morgan Stanley initiated coverage on shares of Energy Transfer Equity L.P. in a research report on Monday, August 15th. They set an overweight rating and a $20.00 target price for the company. Finally, Robert W. Baird raised shares of Energy Transfer Equity L.P. from a neutral rating to an outperform rating and increased their target price for the stock from $7.00 to $20.00 in a research report on Monday, September 26th. Seven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock presently has a consensus rating of Buy and an average price target of $18.88.

Shares of Energy Transfer Equity L.P. (NYSE:ETE) opened at 17.30 on Tuesday. The stock’s 50 day moving average is $16.00 and its 200 day moving average is $15.66. The stock has a market cap of $18.09 billion, a P/E ratio of 17.18 and a beta of 1.81. Energy Transfer Equity L.P. has a 12 month low of $4.00 and a 12 month high of $19.99.

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

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

Institutional investors have recently made changes to their positions in the company. Ladenburg Thalmann Financial Services Inc. boosted its position in shares of Energy Transfer Equity L.P. by 38.7% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 109,182 shares of the company’s stock valued at $778,000 after buying an additional 30,437 shares during the period. First Western Capital Management Co boosted its position in shares of Energy Transfer Equity L.P. by 21.7% in the second quarter. First Western Capital Management Co now owns 88,002 shares of the company’s stock valued at $1,265,000 after buying an additional 15,700 shares during the period. Walnut Private Equity Partners LLC boosted its position in shares of Energy Transfer Equity L.P. by 17.8% in the second quarter. Walnut Private Equity Partners LLC now owns 1,413,114 shares of the company’s stock valued at $20,306,000 after buying an additional 213,114 shares during the period. Trust Co. of Vermont boosted its position in shares of Energy Transfer Equity L.P. by 2.3% in the second quarter. Trust Co. of Vermont now owns 17,800 shares of the company’s stock valued at $256,000 after buying an additional 400 shares during the period. Finally, Murphy Capital Management Inc. boosted its position in shares of Energy Transfer Equity L.P. by 5.4% in the second quarter. Murphy Capital Management Inc. now owns 15,700 shares of the company’s stock valued at $225,000 after buying an additional 800 shares during the period. Hedge funds and other institutional investors own 43.80% of the company’s stock.

About Energy Transfer Equity L.P.

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