Post-Earnings Highlights - Energy Transfer Equity
LONDON, March 18, 2015 /PRNewswire/ --
Editor Note: For more information about this release, please scroll to bottom.
Investor-Edge.com has issued free post-earnings highlights on Energy Transfer Equity L.P. (NYSE: ETE). On February 18, 2015, the company reported its financial results for Q4 FY14 and full year FY14 (period ended December 31, 2014). Click on http://get.Investor-Edge.com/pdf/?c=Energy%20Transfer%20Equity&d=18-Mar-2015&s=ETE to read our free earnings review on Energy Transfer Equity L.P. (ETE). The company's revenues came in at $13.48 billion for Q4 FY14 and $55.69 billion for FY14. In January 2015, ETE's Board of Directors approved the ninth consecutive increase in its quarterly dividend distribution to $0.45 per unit for Q4 FY14, an increase of 30% on an annualized basis compared to Q4 FY13. Furthermore, the company' distribution coverage ratio was 1.00x during Q4 FY14 and 1.03x for full-year FY14. Our free coverage report can be accessed at:
http://get.Investor-Edge.com/pdf/?c=Energy%20Transfer%20Equity&d=18-Mar-2015&s=ETE
Earnings Overview
During Q4 FY14, ETE's revenues rose by $874 million from $12.61 billion in Q4 FY13. However, the company's Q4 FY14 revenues missed Bloomberg analysts' forecast of $16.47 billion. Additionally, ETE reported operating income of $165 million in Q4 FY14 compared to an operating loss of $153 million in Q4 FY13. Free research on ETE can be downloaded in PDF format at:
http://get.Investor-Edge.com/pdf/?c=Energy%20Transfer%20Equity&d=18-Mar-2015&s=ETE
For Q4 FY14, net income attributable to partners stood at $113 million, or $0.21 per diluted unit, compared to net loss attributable to partners of $172 million, or $0.31 loss per diluted unit, in Q4 FY13. Analysts from Bloomberg had expected net income attributable to partners of $334 million, or $0.48 per diluted unit, in Q4 FY14. Further, ETE reported adjusted distributable cash flow of $243 million, or $0.45 per unit, in Q4 FY14 compared to $185 million, or $0.33 per unit, in Q4 FY13.
In FY14, ETE's revenues surged by $7.36 billion from $48.34 billion in FY13. However, the company's FY14 revenues missed Bloomberg analysts' forecast of $58.48 billion. Furthermore, ETE's operating income increased to $2.47 billion in FY14 from $1.55 billion in FY13.
ETE's net income attributable to partners surged to $633 million in FY14 (a 223% increase) compared to $196 million in FY13. Moreover, net income per diluted unit attributable to partners stood at $1.15 in FY14 compared to $0.35 in FY13. Analysts from Bloomberg had expected net income attributable to partners of $1.19 billion, or $1.77 per diluted unit, in FY14. The company reported adjusted distributable cash flow of $895 million in FY14 compared to $719 million in FY13. Additionally, ETE's adjusted distributable cash flow per unit increased 27% to $1.63 in FY14 from $1.28 in FY13. Sign up and read the free analyst's notes on ETE at:
http://get.Investor-Edge.com/pdf/?c=Energy%20Transfer%20Equity&d=18-Mar-2015&s=ETE
ETE's Board of Directors has approved a $2 billion common unit buyback program which is intended to be used opportunistically and will be utilized and sequenced from time to time depending on the trading price activity and performance of ETE's common units.
As of December 31, 2014, ETE's $1.2 billion revolving credit facility had $940 million of outstanding borrowings and its leverage ratio, as defined by the credit agreement, was 3.31x. Moreover, in February 2015, the company increased its revolving credit facility to $1.5 billion. Visit Investor-Edge and access the latest research on ETE at:
http://get.Investor-Edge.com/pdf/?c=Energy%20Transfer%20Equity&d=18-Mar-2015&s=ETE
Stock Performance
On the day following the earnings release, February 19, 2015, ETE's stock gained 1.40% to end the session at $60.98. Since then, the stock has moved both ways with gains outperforming losses. On the last close, Tuesday, March 17, 2015, the company's shares finished 3.00% higher at $62.52, after vacillating between $60.19 and $62.75. A total of 1.41 million shares were traded which was below their three months average volume of 1.64 million shares. Over the last one month and over the previous three months, the company's shares have gained 3.36% and 13.86%, respectively. Further, the stock has surged 35.12% in the past one year. Shares in ETE are trading above their 50-day and 200-day moving averages of $58.41 and $57.80, respectively. Additionally, the stock traded at a PE ratio of 43.31 has a Relative Strength Index (RSI) of 47.23.
Sneak Peek to Corporate Insider Trading
In the last one month, ETE has not reported any share transactions by insiders to the U.S. Securities and Exchange Commission (SEC). Complimentary in-depth research on ETE is available at:
http://get.Investor-Edge.com/pdf/?c=Energy%20Transfer%20Equity&d=18-Mar-2015&s=ETE
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