Market Overview

UPDATE: Deutsche Bank Reiterates Buy Rating, Raises PT on Energy Transfer Equity

Related ETE
There Might Be Some Good News For MLP ETFs
Exclusive: Dan Willard Sees 'Really Good Buying Opportunity' In MLPs
What Happened In August: Easy MLP Money, Easy MLP Losses. Forget It, Let's Go On Vacation (Seeking Alpha)

In a report published Friday, Deutsche Bank reiterated its Buy rating on Energy Transfer Equity (NYSE: ETE), and raised its price target from $45.00 to $52.00.

Deutsche Bank noted, “Our $52 target price for ETE is based on the dividend discount model combined with the target distribution yield of 5.0%. We revise our distribution forecast based on Holding Co formation to $2.60 per unit in 2013, retaining 2012E distribution at $2.50 per unit. We revise our near-term growth rate to 7%, normalized to a terminal growth rate of 2% over the next five years. We use a cost of equity of 8.1% as our discount rate.”

Energy Transfer Equity closed on Thursday at $45.03.

Latest Ratings for ETE

Jun 2015BarclaysReinstatesOverweight
May 2015Deutsche BankInitiates Coverage onBuy
Apr 2015Goldman SachsInitiates Coverage onConviction Buy

View More Analyst Ratings for ETE
View the Latest Analyst Ratings

Posted-In: Deutsche BankAnalyst Color Price Target Analyst Ratings


Related Articles (ETE)

Get Benzinga's Newsletters