Mizuho Securities Initiates Coverage on Energy Transfer Equity LP to Buy

Mizuho Securities Initiates Coverage on Energy Transfer Equity LP(NYSE:ETE). The shares have been rated Buy. The rating by Mizuho Securities was issued on Sep 30, 2016.

In a different note, Stephens & Co. said it Initiates Coverage on Energy Transfer Equity LP, according to a research note issued on Sep 29, 2016. The shares have been rated ‘Equal-weight’ by the firm. On Sep 26, 2016, Baird said it Upgrades its rating on Energy Transfer Equity LP. The shares have been rated ‘Outperform’ by the firm. On Aug 15, 2016, Morgan Stanley said it Assumes its rating on Energy Transfer Equity LP. The shares have been rated ‘Overweight’ by the firm. On Jul 26, 2016, Credit Suisse said it Reinstates its rating on Energy Transfer Equity LP. The shares have been rated ‘Outperform’ by the firm. On Jul 25, 2016, Jefferies said it Maintains its rating on Energy Transfer Equity LP. In the research note, the firm Raises the price-target to $17.00 per share. The shares have been rated ‘Buy’ by the firm. On Jul 13, 2016, Goldman Sachs said it Reinstates its rating on Energy Transfer Equity LP. The shares have been rated ‘Neutral’ by the firm.

Energy Transfer Equity LP (ETE) shares turned negative on Tuesdays trading session with the shares closing down -0.49 points or -2.93% at a volume of 35,19,651. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $16.78. The peak price level was also seen at $16.78 while the days lowest was $16.16. Finally the shares closed at $16.22. The 52-week high of the shares is $25.36 while the 52-week low is $4. According to the latest information available, the market cap of the company is $16,947 M.

Energy Transfer Equity LP(ETE) last announced its earnings results on Aug 3, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $9.34B. Analysts had an estimated revenue of $8.10B. Earnings per share were $0.23. Analysts had estimated an EPS of $0.33.

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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