Barclays Reinstates Energy Transfer Equity LP to Overweight

Brokerage firm Barclays Reinstates its rating on Energy Transfer Equity LP(NYSE:ETE). The shares have been rated Overweight. The rating by Barclays was issued on Jul 5, 2016.

In a different note, On Jun 8, 2016, Jefferies said it Maintains its rating on Energy Transfer Equity LP. In the research note, the firm Raises the price-target to $15.00 per share. The shares have been rated ‘Buy’ by the firm. Bernstein said it Initiates Coverage on Energy Transfer Equity LP, according to a research note issued on May 11, 2016. The shares have been rated ‘Market Perform’ by the firm.

Energy Transfer Equity LP (ETE) made into the market gainers list on Fridays trading session with the shares advancing 1.96% or 0.3 points. Due to strong positive momentum, the stock ended at $15.58, which is also near the day’s high of $15.77. The stock began the session at $15.56 and the volume stood at 85,36,821 shares. The 52-week high of the shares is $33.055 and the 52 week low is $4. The company has a current market capitalization of $16,278 M and it has 1,04,47,91,160 shares in outstanding.

Energy Transfer Equity LP(ETE) last announced its earnings results on May 4, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $7.98B. Analysts had an estimated revenue of $10.47B. Earnings per share were $0.30. Analysts had estimated an EPS of $0.29.

Several Insider Transactions has been reported to the SEC. On Dec 8, 2015, John W Mcreynolds (President) purchased 84,667 shares at $16.14 per share price.Also, On Dec 8, 2015, K Rick Turner (director) purchased 5,000 shares at $12.90 per share price.On Dec 7, 2015, Kelcy L Warren (director 10% owner) purchased 2,000,000 shares at $16.11 per share price, according to the Form-4 filing with the securities and exchange commission.

Energy Transfer Equity L.P. (ETE) is a limited partnership company. The Company directly and indirectly owns equity interests in Energy Transfer Partners L.P. (ETP) and Regency Energy Partners LP (Regency) both of which are master limited partnerships engaged in diversified energy-related services. Its segments include Investment in ETP including the consolidated operations of ETP and Regency; Investment in Lake Charles LNG including the operations of Lake Charles LNG Company LLC (Lake Charles LNG) and Corporate and Other including the activities of ETE. The Company’s Lake Charles LNG provides terminal services for shippers by receiving liquefied natural gas (LNG) at the facility for storage and delivering such liquefied natural gas (LNG) to shippers. It through ETP operates various brands such as Sunoco Stripes Aplus Aloha Island Mart Exxon Mobil Valero Shell and Chevron. In March 2015 ETE transferred its 45% interest in the Bakken Pipeline project to ETP.

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