Energy Transfer Equity LP (ETE) Rating Reiterated by Royal Bank of Canada

Energy Transfer Equity LP (NYSE:ETE)‘s stock had its “buy” rating reaffirmed by Royal Bank of Canada in a note issued to investors on Friday. They presently have a $22.00 target price on the stock. Royal Bank of Canada’s price objective would indicate a potential upside of 17.40% from the company’s current price.

Several other brokerages have also weighed in on ETE. Sanford C. Bernstein lowered shares of Energy Transfer Equity from an “outperform” rating to a “market perform” rating and raised their price objective for the stock from $18.00 to $19.00 in a report on Monday, January 9th. Mizuho reissued a “buy” rating on shares of Energy Transfer Equity in a report on Monday, December 26th. Vetr raised shares of Energy Transfer Equity from a “buy” rating to a “strong-buy” rating and set a $22.54 price objective for the company in a report on Thursday, February 9th. Jefferies Group LLC lowered shares of Energy Transfer Equity from a “buy” rating to a “hold” rating and set a $20.00 price objective for the company. in a report on Thursday, January 12th. Finally, Raymond James Financial, Inc. raised shares of Energy Transfer Equity from a “market perform” rating to an “outperform” rating and set a $23.00 price objective for the company in a report on Thursday, January 12th. Five equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $20.09.

Analyst Recommendations for Energy Transfer Equity (NYSE:ETE)

Energy Transfer Equity (NYSE:ETE) opened at 18.74 on Friday. Energy Transfer Equity has a 1-year low of $6.37 and a 1-year high of $20.05. The firm has a market cap of $19.66 billion, a P/E ratio of 20.37 and a beta of 1.86. The firm has a 50-day moving average of $18.86 and a 200 day moving average of $17.59.

The firm also recently declared a quarterly dividend, which was paid on Monday, February 20th. Stockholders of record on Tuesday, February 7th were issued a $0.285 dividend. This represents a $1.14 annualized dividend and a dividend yield of 6.08%. The ex-dividend date was Friday, February 3rd. Energy Transfer Equity’s dividend payout ratio (DPR) is presently 111.77%.

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Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Morgan Stanley raised its position in Energy Transfer Equity by 12.2% in the third quarter. Morgan Stanley now owns 58,387,085 shares of the company’s stock valued at $980,320,000 after buying an additional 6,333,001 shares during the period. Chickasaw Capital Management LLC raised its position in Energy Transfer Equity by 27.3% in the third quarter. Chickasaw Capital Management LLC now owns 20,016,742 shares of the company’s stock valued at $336,081,000 after buying an additional 4,298,398 shares during the period. Hsbc Holdings PLC raised its position in Energy Transfer Equity by 75.2% in the third quarter. Hsbc Holdings PLC now owns 9,764,692 shares of the company’s stock valued at $163,949,000 after buying an additional 4,191,129 shares during the period. Credit Suisse AG raised its position in Energy Transfer Equity by 19.4% in the third quarter. Credit Suisse AG now owns 3,951,824 shares of the company’s stock valued at $66,351,000 after buying an additional 643,120 shares during the period. Finally, Zimmer Partners LP raised its position in Energy Transfer Equity by 4.2% in the fourth quarter. Zimmer Partners LP now owns 2,862,969 shares of the company’s stock valued at $55,284,000 after buying an additional 115,400 shares during the period. 43.89% of the stock is owned by institutional investors and hedge funds.

Energy Transfer Equity Company Profile

Energy Transfer Equity, L.P. (ETE) directly and indirectly owns equity interests in Energy Transfer Partners, L.P. (ETP) and SUN LP, which are engaged in diversified energy-related services. The Company, through its family of companies, owns and operates over 71,000 miles of natural gas, natural gas liquids (NGL), refined products and crude oil pipelines.

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