Are Wall Street Analysts Bullish on Energy Transfer Equity?
Analyst ratings for Energy Transfer Equity
Of analysts surveyed by Reuters, 63.0% of analysts rate Energy Transfer Equity (ETE) a “buy” as of September 27 while the remaining 37.0% rate it a “hold.” Stifel Nicolaus last initiated coverage on ETE with a “buy” rating. Overall, ETE has seen five rating updates since the beginning of this year, including three upgrades, one new coverage, and one downgrade. For details on last week’s MLP rating updates, see Magellan Midstream Partners Was Upgraded Last Week.
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ETE’s peers Western Gas Equity Partners (WGP) and NuStar GP Holdings (NSH) have “hold” ratings from 62.5% and 66.7% of analysts, respectively. 81.8% of analysts rate ETE’s subsidiary, Energy Transfer Partners (ETP), a “buy.” ETE is currently trading close to the low range ($17) of analysts’ target price. ETE’s average target price of $20.6 implies an 18.0% upside potential from its current price levels.
For more coverage on midstream companies, check out Market Realist’s Master Limited Partnerships page.