Boston, MA 05/20/2014 (wallstreetpr) – Despite falling short of Wall Street earnings estimate, Energy Transfer Equity LP (NYSE:ETE) has retained significant investor confidence. Analysts believe shares of the company will hit $53.12 per share over a 12-month period. Recent developments in the company already point to that positive anticipation. The shares are up 8 percent since the company reported its 1Q2014 financial results 14 days ago on May 6. Energy Transfer Equity LP (NYSE:ETE) reported earnings of 18 cents on revenue of $13.1 billion. However, analysts expected EPS of 31 cents on revenue of $12.5 billion. As such, while revenue exceeded expectation, earnings fell short of expectation in 1Q.
Chicago-based real estate investment trust Aviv REIT, Inc. (NYSE:AVIV) just announced the completion of $181 million of its accretive acquisitions so far in the year. The company expects its ongoing string of acquisitions to enhance its geographical diversification in addition to enriching its portfolio. The last acquisition so far involved $70.7 million in three deals that expanded the company’s position in the long-term care skilled nursing and post acute care skilled nursing in Texas and California. According to CEO Craig M. Bernfield, the company will continue to make strategic acquisitions to support short and long-term growth.
Legacy Reserves LP (NASDAQ:LGCY) expects the proceeds from its recently announced notes offering to support oil and gas property acquisitions. The company intends to increase its portfolio of oil and gas properties to increase production and boost revenue growth. The $300 million notes with due date of 2021 bear annual interest of 6.625 percent. The company is eying properties in Priceance Basin, Garfield County in Colorado. It recently announced a strategic alliance with WPX Energy Inc (NYSE:WPX) in what it expects to support its long-term growth. Legacy Reserves LP (NASDAQ:LGCY) reported 1Q2014 earnings per share of $0.01, against a loss of $0.12 per share in the same period last year. Revenue in the latest quarter was $125.9 million, ahead of the consensus estimate of $122.01 million for the quarter.
