Wells Fargo Resumes Energy Transfer Equity, L.P. (ETE) at Outperform

Wells Fargo resumes coverage on Energy Transfer Equity, L.P. (NYSE: ETE) with a Outperform and a valuation range of $48-52 per unit.

The firm comments, "We forecast 2013 distribution growth of 7.7% and three year CAGR of 7.8% supported by modest growth from ETP, RGP, and the new HoldCo structure (60% owned by ETE) and assumed equity issuances at ETP and RGP. In addition to its robust yield and attractive growth prospects, ETE offers upside optionality as Energy Transfer embarks on its stated goal of simplifying its corporate structure. While there are a myriad of potential transactions that Energy Transfer could undertake, we believe owning ETE best positions investors to benefit from this simplification process."

For an analyst ratings summary and ratings history on Energy Transfer Equity, L.P. click here. For more ratings news on Energy Transfer Equity, L.P. click here.

Shares of Energy Transfer Equity, L.P. closed at $44.97 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• AMD (AMD) to offer senior notes in four parts
• Leerink Starts Ligand Pharma (LGND) at Outperform
• Axis Capital Limited Assumes Jubilant Foodworks Ltd (JUBI:IN) at Reduce (3)