Wunderlich Lowers DCF On Energy Transfer Equity
According to Wunderlich, Energy Transfer Equity (NYSE: ETE) reported 1Q11 distributable cash flow of $125 million.
Wunderlich said that it is lowering its distributable cash flow estimates, but maintaining its distribution outlook. “ETE recently increased its distribution for the first time in four quarters and we believe growth should continue. We have a Buy rating and $45 price target on ETE units.”
Energy Transfer Equity closed yesterday at $42.84.
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