Energy Transfer Equity (ETE) Debt Trading 1.3% Higher

An issue of Energy Transfer Equity LP (NYSE:ETE) bonds rose 1.3% as a percentage of their face value during trading on Monday. The high-yield debt issue has a 5.5% coupon and will mature on June 1, 2027. The debt is now trading at $104.75 and was trading at $102.25 one week ago. Price moves in a company’s bonds in credit markets often anticipate parallel moves in its stock price.

Several research analysts recently commented on ETE shares. Mizuho reiterated a “buy” rating and set a $21.00 price objective on shares of Energy Transfer Equity in a research note on Friday, October 20th. Zacks Investment Research lowered shares of Energy Transfer Equity from a “hold” rating to a “sell” rating in a research note on Tuesday, October 17th. Robert W. Baird reiterated a “buy” rating and set a $24.00 price objective on shares of Energy Transfer Equity in a research note on Friday, October 27th. Goldman Sachs Group upgraded shares of Energy Transfer Equity from a “neutral” rating to a “buy” rating and set a $23.00 price objective for the company in a research note on Tuesday, October 17th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $20.00 price objective on shares of Energy Transfer Equity in a research note on Thursday, October 12th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. Energy Transfer Equity has an average rating of “Buy” and a consensus price target of $21.88.

Energy Transfer Equity LP (NYSE:ETE) opened at $17.29 on Tuesday. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.11 and a current ratio of 1.36. Energy Transfer Equity LP has a 52 week low of $15.03 and a 52 week high of $19.85. The stock has a market cap of $18,660.00, a P/E ratio of 16.63 and a beta of 1.87.

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

Several large investors have recently added to or reduced their stakes in the company. Harvest Fund Advisors LLC increased its stake in shares of Energy Transfer Equity by 9.4% in the third quarter. Harvest Fund Advisors LLC now owns 45,684,871 shares of the pipeline company’s stock worth $794,003,000 after acquiring an additional 3,914,284 shares during the period. Chickasaw Capital Management LLC increased its stake in shares of Energy Transfer Equity by 1.9% in the fourth quarter. Chickasaw Capital Management LLC now owns 22,407,074 shares of the pipeline company’s stock worth $386,746,000 after acquiring an additional 410,501 shares during the period. Atlantic Trust Group LLC increased its stake in shares of Energy Transfer Equity by 8.7% in the third quarter. Atlantic Trust Group LLC now owns 13,290,034 shares of the pipeline company’s stock worth $230,980,000 after acquiring an additional 1,060,430 shares during the period. ING Groep NV acquired a new stake in shares of Energy Transfer Equity in the third quarter worth $189,859,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of Energy Transfer Equity by 4.1% in the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 10,597,720 shares of the pipeline company’s stock worth $184,188,000 after acquiring an additional 416,462 shares during the period. Hedge funds and other institutional investors own 51.53% of the company’s stock.

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About Energy Transfer Equity

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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