Energy Transfer Equity (ETE) Downgraded to “Sell” at Zacks Investment Research

Zacks Investment Research cut shares of Energy Transfer Equity (NYSE:ETE) from a hold rating to a sell rating in a research note published on Wednesday.

According to Zacks, “Energy Transfer Equity, L.P. owns a diversified portfolio of energy assets, including natural gas operations consisting miles of natural gas gathering and transportation pipelines, natural gas treating and processing assets located in Texas and Louisiana, and three natural gas storage facilities located in Texas. “

A number of other research analysts have also issued reports on ETE. Stifel Nicolaus reiterated a buy rating and issued a $20.00 price objective on shares of Energy Transfer Equity in a report on Thursday, October 12th. BMO Capital Markets set a $19.00 price objective on shares of Energy Transfer Equity and gave the company a hold rating in a report on Thursday, October 12th. Jefferies Group reiterated a buy rating and issued a $20.00 price objective on shares of Energy Transfer Equity in a report on Monday, October 16th. Goldman Sachs Group upgraded shares of Energy Transfer Equity from a neutral rating to a buy rating and set a $23.00 price objective for the company in a report on Tuesday, October 17th. Finally, Mizuho reissued a buy rating and set a $21.00 target price on shares of Energy Transfer Equity in a research report on Friday, October 20th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of Buy and an average target price of $21.78.

Shares of Energy Transfer Equity (NYSE:ETE) traded up $0.20 during midday trading on Wednesday, reaching $18.03. 4,628,625 shares of the company were exchanged, compared to its average volume of 5,200,000. The company has a market cap of $19,460.00, a price-to-earnings ratio of 17.34 and a beta of 1.87. Energy Transfer Equity has a 1-year low of $15.03 and a 1-year high of $19.85. 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 (NYSE:ETE) last issued its quarterly earnings data on Tuesday, November 7th. The pipeline company reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.12). The business had revenue of $9.47 billion during the quarter, compared to the consensus estimate of $16.25 billion. Energy Transfer Equity had a net margin of 2.29% and a return on equity of 3.84%. The firm’s quarterly revenue was up 23.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.19 EPS. analysts predict that Energy Transfer Equity will post 0.99 EPS for the current year.

Several hedge funds have recently made changes to their positions in the company. Raymond James Trust N.A. grew its position in shares of Energy Transfer Equity by 0.7% during the 2nd quarter. Raymond James Trust N.A. now owns 19,091 shares of the pipeline company’s stock worth $343,000 after buying an additional 131 shares during the period. Linscomb & Williams Inc. grew its position in shares of Energy Transfer Equity by 0.5% during the 2nd quarter. Linscomb & Williams Inc. now owns 38,658 shares of the pipeline company’s stock worth $694,000 after buying an additional 188 shares during the period. Fiera Capital Corp grew its position in shares of Energy Transfer Equity by 0.3% during the 2nd quarter. Fiera Capital Corp now owns 234,473 shares of the pipeline company’s stock worth $4,211,000 after buying an additional 606 shares during the period. D.A. Davidson & CO. grew its position in shares of Energy Transfer Equity by 1.3% during the 2nd quarter. D.A. Davidson & CO. now owns 56,428 shares of the pipeline company’s stock worth $1,013,000 after buying an additional 751 shares during the period. Finally, Advisory Services Network LLC grew its position in shares of Energy Transfer Equity by 12.6% during the 2nd quarter. Advisory Services Network LLC now owns 9,331 shares of the pipeline company’s stock worth $168,000 after buying an additional 1,047 shares during the period. 51.53% of the stock is owned by institutional investors.

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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.

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