Energy Transfer Equity LP (ETE) was Upgraded by Robert W. Baird to ” Outperform” according to the research note released today. The brokerage firm has raised the Price Target to $ 20 from a previous price target of $7 . Earlier the firm had a rating of “Neutral ” on the company shares. Robert W. Baird advised their investors in a research report released on Sep 26, 2016.
Many Wall Street Analysts have commented on Energy Transfer Equity LP. Energy Transfer Equity LP was Resumed by JP Morgan to “Overweight” on Sep 2, 2016. Energy Transfer Equity LP was Resumed by Morgan Stanley to “Overweight” on Aug 15, 2016. Energy Transfer Equity LP was Resumed by Credit Suisse to “Outperform” on Jul 26, 2016.
On the company’s financial health, Energy Transfer Equity LP reported $0.30 EPS for the quarter, missing the analyst consensus estimate by $ -0.02 based on the information available during the earnings call on Feb 24, 2016. Analyst had a consensus of $0.32. The company had revenue of $9536.00 million for the quarter, compared to analysts expectations of $12171.78 million. The company’s revenue was down -29.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.21 EPS.
Energy Transfer Equity LP opened for trading at $16.99 and hit $17.06 on the upside on Thursday, eventually ending the session at $16.91, with a gain of 0.71% or 0.12 points. The heightened volatility saw the trading volume jump to 37,04,223 shares. Company has a market cap of $17,667 M.
In a different news, on Dec 8, 2015, John W Mcreynolds (President) purchased 84,667 shares at $16.14 per share price. According to the SEC, on Dec 8, 2015, K Rick Turner (director) purchased 5,000 shares at $12.90 per share price. On Dec 7, 2015, Marshall S Iii Mccrea (President – COO) sold 485,000 shares at $18.89 per share price, according to the Form-4 filing with the securities and exchange commission.
Energy Transfer Equity L.P. (ETE) is a limited partnership company. The Company directly and indirectly owns equity interests in Energy Transfer Partners L.P. (ETP) and Regency Energy Partners LP (Regency) both of which are master limited partnerships engaged in diversified energy-related services. Its segments include Investment in ETP including the consolidated operations of ETP and Regency; Investment in Lake Charles LNG including the operations of Lake Charles LNG Company LLC (Lake Charles LNG) and Corporate and Other including the activities of ETE. The Company’s Lake Charles LNG provides terminal services for shippers by receiving liquefied natural gas (LNG) at the facility for storage and delivering such liquefied natural gas (LNG) to shippers. It through ETP operates various brands such as Sunoco Stripes Aplus Aloha Island Mart Exxon Mobil Valero Shell and Chevron. In March 2015 ETE transferred its 45% interest in the Bakken Pipeline project to ETP.