Investment analysts at Credit Suisse Group assumed coverage on shares of Energy Transfer Equity LP Unit (NYSE:ETE) in a research note issued on Thursday, The Fly reports. The brokerage set an “outperform” rating and a $23.00 price target on the pipeline company’s stock. Credit Suisse Group’s price objective indicates a potential upside of 34.74% from the stock’s previous close.

A number of other analysts have also commented on ETE. ValuEngine upgraded Energy Transfer Equity LP Unit from a “sell” rating to a “hold” rating in a report on Friday, June 15th. US Capital Advisors reiterated a “hold” rating on shares of Energy Transfer Equity LP Unit in a report on Tuesday, July 17th. Zacks Investment Research upgraded Energy Transfer Equity LP Unit from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a report on Wednesday, August 1st. Goldman Sachs Group assumed coverage on Energy Transfer Equity LP Unit in a report on Monday. They set a “buy” rating and a $23.00 price target on the stock. Finally, Stephens upgraded Energy Transfer Equity LP Unit from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $20.00 to $23.00 in a report on Thursday, August 2nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $20.69.

Shares of Energy Transfer Equity LP Unit stock opened at $17.07 on Thursday. The firm has a market cap of $20.19 billion, a P/E ratio of 14.11 and a beta of 1.91. Energy Transfer Equity LP Unit has a 12 month low of $12.80 and a 12 month high of $19.34. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.76 and a current ratio of 0.99.

Energy Transfer Equity LP Unit (NYSE:ETE) last issued its quarterly earnings results on Wednesday, August 8th. The pipeline company reported $0.31 EPS for the quarter, missing the Zacks’ consensus estimate of $0.46 by ($0.15). The business had revenue of $14.12 billion for the quarter, compared to the consensus estimate of $12.63 billion. Energy Transfer Equity LP Unit had a return on equity of 5.50% and a net margin of 2.60%. The business’s revenue was up 49.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.18 earnings per share. Research analysts anticipate that Energy Transfer Equity LP Unit will post 2.08 EPS for the current year.

In other news, Director Richard D. Brannon bought 100,000 shares of the stock in a transaction on Tuesday, September 11th. The shares were purchased at an average cost of $17.68 per share, for a total transaction of $1,768,000.00. Following the completion of the purchase, the director now directly owns 92,619 shares in the company, valued at approximately $1,637,503.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Richard D. Brannon bought 25,000 shares of the stock in a transaction on Thursday, September 6th. The stock was purchased at an average price of $17.53 per share, for a total transaction of $438,250.00. Following the completion of the purchase, the director now owns 57,619 shares of the company’s stock, valued at $1,010,061.07. The disclosure for this purchase can be found here. Insiders own 3.28% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of ETE. Winslow Evans & Crocker Inc. raised its stake in shares of Energy Transfer Equity LP Unit by 78.9% in the second quarter. Winslow Evans & Crocker Inc. now owns 6,800 shares of the pipeline company’s stock valued at $120,000 after buying an additional 3,000 shares during the period. Bridgeworth LLC purchased a new position in shares of Energy Transfer Equity LP Unit in the second quarter valued at $138,000. Wealth Alliance Advisory Group LLC purchased a new position in shares of Energy Transfer Equity LP Unit in the first quarter valued at $156,000. Bluefin Trading LLC grew its position in shares of Energy Transfer Equity LP Unit by 114.0% in the first quarter. Bluefin Trading LLC now owns 11,800 shares of the pipeline company’s stock valued at $168,000 after purchasing an additional 95,800 shares in the last quarter. Finally, Centaurus Financial Inc. purchased a new position in shares of Energy Transfer Equity LP Unit in the second quarter valued at $171,000. Hedge funds and other institutional investors own 44.40% of the company’s stock.

Energy Transfer Equity LP Unit Company Profile

Energy Transfer Equity, L.P. provides diversified energy-related services in the United States. It owns and operates approximately 7,900 miles of natural gas transportation pipelines and three natural gas storage facilities in Texas; and approximately 11,800 miles of interstate natural gas pipelines.

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Analyst Recommendations for Energy Transfer Equity LP Unit (NYSE:ETE)

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