Positive Report for Energy Transfer Eq from Jefferies

By Jason Carr

In a report released today, Christopher Sighinolfi from Jefferies upgraded Energy Transfer Eq (NYSE: ETE) to Buy, with a price target of $21. The company’s shares closed yesterday at $18.56.

According to TipRanks.com, Sighinolfi is a 5-star analyst with an average return of 11.0% and a 62.9% success rate. Sighinolfi covers the Basic Materials sector, focusing on stocks such as Dcp Midstream Partners Lp, National Fuel Gas Company, and EnLink Midstream Partners.

Energy Transfer Eq has an analyst consensus of Moderate Buy, with a price target consensus of $20.67.

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Energy Transfer Equity LP provides natural gas pipeline transportation and transmission services. The company operates its business in seven segments: Interstate Transportation and Storage, Midstream, NGL Transportation and Services, Retail Marketing, Investment in Sunoco Logistics, Investment in Regency and Corporate and Other. The Intrastate Transportation and Storage segment includes natural gas transportation pipelines receive natural gas from other mainline transportation pipelines and gathering systems and deliver the natural gas to industrial end-users, utilities and other pipelines. The Midstream segment consists of natural gas gathering, compression, treating, processing and transportation, and is generally characterized by regional competition based on the proximity of gathering systems and processing plants to natural gas producing wells. The NGL Transportation and Services segment engages in processing and fractionating refinery off-gas. The Retail Marketing segment consists of Sunoco, Inc., marketing operations, which sell gasoline and middle distillates at retail and operates convenience stores in 25 states, primarily on the east coast and in the Midwest region of the U.S. Energy Transfer Equity was founded in September 2002 and is headquartered in Dallas, TX.