Analysts Set TECO Energy, Inc. (NYSE:TE) Price Target at $22.25

TECO Energy, Inc. (NYSE:TE) has received an average recommendation of “Hold” from the eleven research firms that are presently covering the firm, MarketBeat.com reports. Eleven equities research analysts have rated the stock with a hold recommendation. The average 1 year price target among brokers that have issued a report on the stock in the last year is $22.25.

Several research analysts have recently issued reports on TE shares. Argus downgraded shares of TECO Energy from a “buy” rating to a “hold” rating in a report on Wednesday, September 9th. Zacks Investment Research upgraded shares of TECO Energy from a “sell” rating to a “hold” rating in a report on Friday, October 23rd. Mizuho downgraded shares of TECO Energy from a “buy” rating to a “neutral” rating and upped their price target for the stock from $24.00 to $27.50 in a report on Tuesday, September 8th. Finally, BMO Capital Markets reiterated a “market perform” rating and set a $27.00 price target on shares of TECO Energy in a report on Tuesday, September 8th.

Shares of TECO Energy (NYSE:TE) traded down 0.11% during mid-day trading on Monday, reaching $26.62. The company had a trading volume of 158,851 shares. The firm has a market capitalization of $6.26 billion and a price-to-earnings ratio of 46.78. The stock has a 50 day moving average of $26.53 and a 200-day moving average of $23.97. TECO Energy has a one year low of $17.60 and a one year high of $27.23.

TECO Energy (NYSE:TE) last announced its quarterly earnings results on Thursday, November 5th. The company reported $0.33 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.33. The company had revenue of $693.80 million for the quarter, compared to analyst estimates of $689.39 million. During the same quarter last year, the company posted $0.32 earnings per share. The firm’s quarterly revenue was up 1.0% on a year-over-year basis. Equities analysts predict that TECO Energy will post $1.10 EPS for the current year.

In other TECO Energy news, VP Charles A. Attal III sold 8,900 shares of the stock in a transaction dated Tuesday, November 10th. The shares were sold at an average price of $26.64, for a total value of $237,096.00. Following the completion of the sale, the vice president now owns 129,940 shares in the company, valued at approximately $3,461,601.60. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Paul L. Whiting acquired 2,100 shares of the firm’s stock in a transaction on Monday, November 23rd. The stock was purchased at an average price of $26.27 per share, with a total value of $55,167.00. Following the purchase, the director now owns 86,044 shares in the company, valued at approximately $2,260,375.88. The disclosure for this purchase can be found here.

An institutional investor recently bought a new position in TECO Energy stock. Jennison Associates bought a new position in shares of TECO Energy, Inc. (NYSE:TE) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 1,605,836 shares of the company’s stock, valued at approximately $42,169,000. Jennison Associates owned approximately 0.68% of TECO Energy at the end of the most recent reporting period.

12 Month Chart for NYSE:TE

TECO Energy, Inc. (NYSE:TE) is a holding company for regulated utilities and other businesses. TECO Energy owns no operating assets but holds all of the common stock of TEC and its subsidiary, TECO Diversified. Tampa Electric Company, the principal subsidiary of TECO Energy, Inc., has two business segments. Its Tampa Electric division provides retail electric service to more than 706,000 customers in West Central Florida with a net winter system generating capacity of 4,668 Megawatts. Peoples Gas System, the gas division of Tampa Electric Company, is engaged in the purchase, distribution and sale of natural gas for approximately 513,000 residential, commercial, industrial customers in the State of New Mexico. New Mexico Gas Company, Inc., a wholly owned subsidiary of New Mexico Gas Intermediate, Inc., is engaged in the purchase, distribution and sale of natural gas for residential, commercial and industrial customers in New Mexico.

 

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