Energy Transfer Partners upgraded to Outperform at Wells Fargo Wells Fargo upgraded Energy Transfer Partners (ETP) to Outperform from Market Perform citing improved long-term growth from recently announced large-scale pipeline projects. Wells raised its price target range for shares to $64-$68 from $59-$63. The firm raised its price target range for Energy Transfer Equity (ETE) to $67-$69 from $54-$56 and keeps an Outperform rating on the name.
News For ETP;ETE From The Last 14 Days
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Energy Transfer Partners increases cash distribution by 6.9% to 95.5c Energy Transfer Partners announced that its board has approved a 2c increase in its quarterly distribution to 95.5c per ETP common unit for the quarter ended June 30. The quarterly distribution of 95.5c represents a distribution increase of 24.5c per common unit on an annualized basis, or 6.9%, compared to the second quarter of 2013 and represents an annualized distribution increase of 8c per common unit compared to 1Q14. The cash distribution will be paid on August 14, 2014 to unitholders of record as of the close of business on August 4, 2014.