Energy Transfer Equity (NYSE:ETE) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Wednesday.

According to Zacks, “Energy Transfer Equity, L.P. owns a diversified portfolio of energy assets, including natural gas operations consisting miles of natural gas gathering and transportation pipelines, natural gas treating and processing assets located in Texas and Louisiana, and three natural gas storage facilities located in Texas. “

Several other brokerages also recently issued reports on ETE. Mizuho reissued a “buy” rating and set a $21.00 price target on shares of Energy Transfer Equity in a report on Friday, October 20th. Robert W. Baird reissued a “buy” rating and set a $24.00 price target on shares of Energy Transfer Equity in a report on Friday, October 27th. Goldman Sachs Group raised shares of Energy Transfer Equity from a “neutral” rating to a “buy” rating and set a $23.00 price target for the company in a report on Tuesday, October 17th. Stifel Nicolaus reissued a “buy” rating and set a $20.00 price target on shares of Energy Transfer Equity in a report on Thursday, October 12th. Finally, Credit Suisse Group initiated coverage on shares of Energy Transfer Equity in a report on Thursday, January 4th. They issued an “outperform” rating and a $23.00 price objective for the company. Two analysts have rated the stock with a sell rating, four have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Energy Transfer Equity presently has a consensus rating of “Buy” and a consensus target price of $21.78.

Shares of Energy Transfer Equity (NYSE:ETE) traded up $0.20 on Wednesday, hitting $18.03. 4,628,625 shares of the stock traded hands, compared to its average volume of 5,200,000. Energy Transfer Equity has a 52 week low of $15.03 and a 52 week high of $19.85. The firm has a market capitalization of $19,460.00, a P/E ratio of 17.34 and a beta of 1.87. The company has a current ratio of 1.36, a quick ratio of 1.11 and a debt-to-equity ratio of 1.69.

Energy Transfer Equity (NYSE:ETE) last announced its quarterly earnings results on Tuesday, November 7th. The pipeline company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.12). Energy Transfer Equity had a net margin of 2.29% and a return on equity of 3.84%. The firm had revenue of $9.47 billion for the quarter, compared to analyst estimates of $16.25 billion. During the same period last year, the firm posted $0.19 EPS. The business’s revenue was up 23.0% compared to the same quarter last year. equities analysts expect that Energy Transfer Equity will post 0.99 EPS for the current fiscal year.

Hedge funds have recently bought and sold shares of the stock. Beach Investment Management LLC. raised its position in Energy Transfer Equity by 1,660.7% in the second quarter. Beach Investment Management LLC. now owns 728,208 shares of the pipeline company’s stock worth $13,079,000 after acquiring an additional 686,848 shares in the last quarter. Eaton Vance Management raised its position in Energy Transfer Equity by 0.9% in the second quarter. Eaton Vance Management now owns 265,334 shares of the pipeline company’s stock worth $4,765,000 after acquiring an additional 2,300 shares in the last quarter. Franklin Resources Inc. raised its position in Energy Transfer Equity by 20.8% in the second quarter. Franklin Resources Inc. now owns 143,964 shares of the pipeline company’s stock worth $2,586,000 after acquiring an additional 24,804 shares in the last quarter. Wells Fargo & Company MN raised its position in Energy Transfer Equity by 87.8% in the second quarter. Wells Fargo & Company MN now owns 2,672,496 shares of the pipeline company’s stock worth $47,998,000 after acquiring an additional 1,249,443 shares in the last quarter. Finally, Alliancebernstein L.P. raised its position in Energy Transfer Equity by 5.8% in the second quarter. Alliancebernstein L.P. now owns 226,218 shares of the pipeline company’s stock worth $4,063,000 after acquiring an additional 12,318 shares in the last quarter. 51.53% of the stock is owned by institutional investors and hedge funds.

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Energy Transfer Equity Company Profile

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.

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Analyst Recommendations for Energy Transfer Equity (NYSE:ETE)

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