Energy Transfer Equity's (ETE) "Market Perform" Rating Reiterated at Wolfe Research

Cornelia Mascio
Mag 20, 2017

There has also been a knock-on effect as it relates to trading volume now reflected in weak real-time sentiment on the buying and selling curve; this has created in turn, indifference toward the stock as measured across a broad statistical mix of the general trading community. A beta of 1 indicates that the stock price moves with the market. ETE's value Change from Open was at -3.62% with a Gap of -0.32%.

This stock (ETP) is ahead of its 52-week low with 10.79%. Its share price has decline -1.25% in three months and is up 7.91% for the last five trades. As we near the halfway point of the calendar year, investors may be trying to figure out if now is the time to get in on the name, or whether to wait for a better opportunity. Energy Transfer Equity has a 52-week low of $10.56 and a 52-week high of $20.05. Taking a broader view, the current separation from the 52-week high is -7.28%, and the distance from the 52-week low is now 83.66%. The company beat the analyst EPS Estimate with the difference of $-0.14. At the time of writing, the consensus target price for the company is $20.70. The company presently has a consensus rating of "Buy" and an average price target of $34.54. This rating uses a scale from 1 to 5. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company.

Energy Transfer Partners, L.P. (ETP) failed to surprise the stock market in its last reported earnings when it earned $0.09 a piece versus the consensus-estimated $0.15. It also reduced its holding in American Tower Corp New (NYSE:AMT) by 279,780 shares in the quarter, leaving it with 2.38M shares, and cut its stake in Welltower Inc (). Looking at the 200-day moving average, shares have been trading 4.95% away from that value. Earnings per share are calculated by dividing a company's net income by its number of shares outstanding. When applying indicators for technical analysis, traders and investors may choose to examine the ATR or average true range. OppenheimerFunds Inc. now owns 27,097,302 shares of the pipeline company's stock worth $534,629,000 after buying an additional 1,112,663 shares during the period. The $17.61 level represents at least another 2% downside for the stock from its current price. Going further back to the beginning of the calendar year, company shares are -3.94%.

Hansberger Growth Investors Lp holds 3.35% of its portfolio in Carnival plc (ADR) for 51,287 shares. The stock showed weekly downbeat performance of -1.73%, which was maintained for the month at 2.78%. Salem Investment Counselors Inc. now owns 58,630 shares of the pipeline company's stock worth $1,147,000 after buying an additional 1,430 shares in the last quarter. Its last month's stock price volatility remained 8.17% which for the week approaches 8%. The stock has relative volume of 1.08. Checking in on current price action, company shares had recently touched 31.34. Diversified Trust Co acquired 5,552 shares as Mastercard Incorporated (MA)'s stock 0.00%. They now have a Dollars 8 price target on the stock. In contrast, the average volume was 4.8 million shares. Clearbridge has 11,800 shares. The stock's market capitalization is 12.67B. The Company's year to date (YTD) performance is now negative at -3.94%. Briefly looking at some recent volatility numbers, we can see that shares have been noted at 2.10% for the week, and 1.70% for the past month. Royal Bank of Canada reissued a "buy" rating and issued a $22.00 target price on shares of Energy Transfer Equity in a report on Friday, March 17th. Taking a broader view, the current separation from the 52-week high is -5.51%, and the distance from the 52-week low is now 41.22%. The consensus recommendation provided by covering sell-side analysts is now 2.10. About shares traded. Resonant Inc (NASDAQ:RESN) has risen 6.00% since April 19, 2017 and is uptrending. About 550,057 shares traded. Moving closer, we can see that shares have been trading 0.43% off of the 20-day moving average.

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