Energy Transfer LP (ET)

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Energy Transfer Equity L.P. (ETE) Set to Announce Earnings on Wednesday
Posted by Amy Steele on Aug 2nd, 2016

Energy Transfer Equity L.P. logoEnergy Transfer Equity L.P. (NYSE:ETE) will post its quarterly earnings results after the market closes on Wednesday, August 3rd. Analysts expect Energy Transfer Equity L.P. to post earnings of $0.29 per share for the quarter.

Energy Transfer Equity L.P. (NYSE:ETE) last announced its quarterly earnings data on Wednesday, May 4th. The company reported $0.30 EPS for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.01. During the same quarter in the previous year, the business posted $0.52 earnings per share. The business had revenue of $7.98 billion for the quarter, compared to analyst estimates of $10.28 billion.

The company’s revenue was down 23.2% compared to the same quarter last year. On average, analysts expect Energy Transfer Equity L.P. to post $1.17 EPS for the current fiscal year and $1.50 EPS for the next fiscal year.

Several research firms have weighed in on ETE. Jefferies Group increased their target price on Energy Transfer Equity L.P. from $17.00 to $20.00 and gave the company a “buy” rating in a research note on Monday, July 25th.

Sanford C. Bernstein began coverage on Energy Transfer Equity L.P. in a research note on Wednesday, May 11th. They issued a “market perform” rating and a $15.00 target price on the stock. Vetr lowered Energy Transfer Equity L.P. from a “strong-buy” rating to a “buy” rating and set a $14.22 target price on the stock. in a research note on Wednesday, June 1st. Credit Suisse Group AG reissued an “outperform” rating and issued a $20.00 target price on shares of Energy Transfer Equity L.P. in a research note on Tuesday, July 26th. Finally, Deutsche Bank AG began coverage on Energy Transfer Equity L.P. in a research note on Thursday, July 7th. They issued a “buy” rating and a $20.00 target price on the stock. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $17.11.


Shares of Energy Transfer Equity L.P. (NYSE:ETE) traded up 1.86% during midday trading on Tuesday, reaching $15.89. The company’s stock had a trading volume of 5,471,788 shares. Energy Transfer Equity L.P. has a 12 month low of $4.00 and a 12 month high of $31.15. The company has a market cap of $16.60 billion and a price-to-earnings ratio of 13.83. The stock has a 50-day moving average of $15.05 and a 200 day moving average of $10.80.

The business also recently announced a quarterly dividend, which will be paid on Friday, August 19th. Shareholders of record on Monday, August 8th will be paid a $0.285 dividend. This represents a $1.14 annualized dividend and a yield of 7.17%. The ex-dividend date of this dividend is Thursday, August 4th.

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.

http://www.thecerbatgem.com/2016/08/02/energy-transfer-equity-l-p-ete-set-to-announce-earnings-on-wednesday/