UPDATE: Stifel Reiterates on Energy Transfer Partners as Distribution Growth Resumes
In a report published Thursday, Stifel analyst Selman Akyol reiterated a Buy rating on Energy Transfer Partners LP (NYSE: ETP), and raised the price target from $55.00 to $56.50.
In the report, Stifel noted, “Energy Transfer began showing the fruits of its acquisitions and corporate consolidation measures this quarter with the first distribution increase since 2008. We believe the partnership remains focused on growing its organic footprint while it remains open to potential acquisitions down the road. While several years from impacting the partnership cash flows, ETP is in the process of evaluating an LNG export terminal which recently received non-FTA trade approval. Accordingly, we maintain our buy rating for ETP and raising our target price to $56.50.”
Energy Transfer Partners LP closed on Wednesday at $53.35.
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