Wunderlich Has Hold Rating On Energy Transfer Equity

Wunderlich Securities is out with a research report on Energy Transfer Equity, L.P.

and it has a Hold rating and a $45 price target on shares. In a note to clients, Wunderlich Securities writes, "Energy Transfer Equity, L.P. (

) announced another revised offer to acquire Southern Union Company (SUG-NR) for $9.4 billion, compared to the previous offer of $8.9 billion and the initial offer of $7.9 billion. We believe at current levels ETE's units are fairly valued. We would continue to hold the units to take advantage of the total return potential over the next several years. We have a Hold rating and $45 price target on ETE units." Shares of ETE are up 36 cents to $43.89 in early Wednesday trading.