Energy Transfer Equity LP (ETE) Upgraded to “Outperform” by Sanford C. Bernstein

Sanford C. Bernstein upgraded shares of Energy Transfer Equity LP (NYSE:ETE) from a market perform rating to an outperform rating in a research note published on Wednesday, May 10th. They currently have $23.00 target price on the pipeline company’s stock, up from their previous target price of $19.00.

Several other equities research analysts have also issued reports on ETE. Raymond James Financial, Inc. raised shares of Energy Transfer Equity from a market perform rating to an outperform rating and set a $23.00 target price for the company in a report on Thursday, January 12th. Jefferies Group LLC lowered shares of Energy Transfer Equity from a buy rating to a hold rating and set a $20.00 target price for the company. in a report on Thursday, January 12th. Zacks Investment Research lowered shares of Energy Transfer Equity from a hold rating to a sell rating in a report on Monday, January 30th. 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. Finally, Royal Bank of Canada reaffirmed a buy rating and set a $22.00 price objective on shares of Energy Transfer Equity in a report on Friday, March 17th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of Buy and a consensus target price of $20.38.

Energy Transfer Equity (NYSE:ETE) last released its earnings results on Wednesday, February 22nd. The pipeline company reported $0.21 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by $0.04. The firm had revenue of $10.80 billion during the quarter, compared to analysts’ expectations of $10.15 billion. Energy Transfer Equity had a return on equity of 6.10% and a net margin of 2.94%. The company’s revenue was up 13.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.30 earnings per share.

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The firm also recently announced a quarterly dividend, which was paid on Friday, May 19th. Stockholders of record on Wednesday, May 10th were given a dividend of $0.285 per share. The ex-dividend date was Monday, May 8th. This represents a $1.14 annualized dividend and a dividend yield of 6.12%. Energy Transfer Equity’s dividend payout ratio (DPR) is 111.77%.

Several hedge funds have recently added to or reduced their stakes in the company. Morgan Stanley increased its stake in Energy Transfer Equity by 1.1% in the first quarter. Morgan Stanley now owns 48,923,092 shares of the pipeline company’s stock valued at $965,253,000 after buying an additional 529,737 shares during the period. OppenheimerFunds Inc. increased its stake in Energy Transfer Equity by 4.3% in the first quarter. OppenheimerFunds Inc. now owns 27,097,302 shares of the pipeline company’s stock valued at $534,629,000 after buying an additional 1,112,663 shares during the period. Chickasaw Capital Management LLC increased its stake in Energy Transfer Equity by 3.6% in the first quarter. Chickasaw Capital Management LLC now owns 22,332,038 shares of the pipeline company’s stock valued at $440,611,000 after buying an additional 771,635 shares during the period. Atlantic Trust Group LLC increased its stake in Energy Transfer Equity by 16.6% in the first quarter. Atlantic Trust Group LLC now owns 13,317,451 shares of the pipeline company’s stock valued at $262,753,000 after buying an additional 1,892,220 shares during the period. Finally, Hsbc Holdings PLC increased its stake in Energy Transfer Equity by 75.2% in the third quarter. Hsbc Holdings PLC now owns 9,764,692 shares of the pipeline company’s stock valued at $163,949,000 after buying an additional 4,191,129 shares during the period. Institutional investors and hedge funds own 43.89% of the company’s stock.

About Energy Transfer Equity

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.

12 Month Chart for NYSE:ETE

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