Energy Transfer Equity L.P. (NYSE:ETE) shot up 2.9% during mid-day trading on Thursday . The company traded as high as $19.12 and last traded at $19.03, with a volume of 4,477,470 shares. The stock had previously closed at $18.49.
A number of brokerages have recently issued reports on ETE. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $21.00 price objective on shares of Energy Transfer Equity L.P. in a research note on Friday, September 2nd. Morgan Stanley began coverage on Energy Transfer Equity L.P. in a research note on Monday, August 15th. They set an “overweight” rating and a $20.00 price objective on the stock. Credit Suisse Group AG reiterated a “buy” rating and set a $20.00 price objective on shares of Energy Transfer Equity L.P. in a research note on Sunday, August 7th. Jefferies Group reiterated a “buy” rating and set a $20.00 price objective on shares of Energy Transfer Equity L.P. in a research note on Thursday, August 4th. Finally, Zacks Investment Research cut Energy Transfer Equity L.P. from a “buy” rating to a “hold” rating in a research note on Tuesday, July 26th. Eight research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $17.63.
The stock has a market cap of $19.89 billion, a PE ratio of 17.32 and a beta of 1.58. The company’s 50-day moving average price is $17.19 and its 200 day moving average price is $12.54.
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Energy Transfer Equity L.P. (NYSE:ETE) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported $0.23 EPS for the quarter, missing the Zacks’ consensus estimate of $0.29 by $0.06. The business earned $9.34 billion during the quarter, compared to analysts’ expectations of $8.09 billion. During the same period in the previous year, the business earned $0.28 earnings per share. The business’s revenue for the quarter was down 19.4% on a year-over-year basis. On average, equities research analysts predict that Energy Transfer Equity L.P. will post $0.99 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 19th. Shareholders of record on Monday, August 8th were paid a $0.285 dividend. The ex-dividend date of this dividend was Thursday, August 4th. This represents a $1.14 dividend on an annualized basis and a yield of 6.01%. Energy Transfer Equity L.P.’s dividend payout ratio (DPR) is presently 102.70%.
Energy Transfer Equity L.P. Company Profile
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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