Energy Transfer Equity LP (ETE) Receives Consensus Rating of “Buy” from Brokerages

Energy Transfer Equity LP (NYSE:ETE) has earned an average recommendation of “Buy” from the seventeen analysts that are covering the firm. Five investment analysts have rated the stock with a hold recommendation, nine have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $20.17.

A number of research firms recently 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 target price for the company from $18.00 to $19.00 in a report on Monday, January 9th. Royal Bank of Canada reissued a “buy” rating and issued a $22.00 target price on shares of Energy Transfer Equity in a report on Friday, January 6th. 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 target price for the company in a report on Thursday, February 9th. Finally, 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.

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Shares of Energy Transfer Equity (NYSE:ETE) traded down 2.70% on Monday, reaching $18.39. 2,334,613 shares of the company’s stock were exchanged. The stock has a market cap of $19.29 billion, a price-to-earnings ratio of 19.99 and a beta of 1.86. The company’s 50 day moving average is $18.92 and its 200-day moving average is $17.61. Energy Transfer Equity has a one year low of $6.37 and a one year high of $20.05.

Hedge funds have recently modified their holdings of the company. Morgan Stanley increased its stake in shares of Energy Transfer Equity by 12.2% in the third quarter. Morgan Stanley now owns 58,387,085 shares of the company’s stock worth $980,320,000 after buying an additional 6,333,001 shares in the last quarter. Chickasaw Capital Management LLC increased its stake in shares of 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 worth $336,081,000 after buying an additional 4,298,398 shares in the last quarter. Hsbc Holdings PLC increased its stake in shares of Energy Transfer Equity by 75.2% in the third quarter. Hsbc Holdings PLC now owns 9,764,692 shares of the company’s stock worth $163,949,000 after buying an additional 4,191,129 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of Energy Transfer Equity by 754.1% in the fourth quarter. Renaissance Technologies LLC now owns 1,395,152 shares of the company’s stock worth $26,940,000 after buying an additional 1,231,800 shares in the last quarter. Finally, Third Security LLC bought a new stake in shares of Energy Transfer Equity during the fourth quarter worth about $14,529,000. Institutional investors own 43.89% of the company’s stock.

About Energy Transfer Equity

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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