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TE $27.64

TE target price
27.64
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TECO Energy
Type
Subsidiary
Industry Energy
Founded 1899
Headquarters Tampa, Florida, United States
Key people

Gordon Gillette (CEO Tampa Electric Company, and President, Emera Florida Operations)
T.J. Szelistowski (President Peoples Gas Company

Sarah MacDonald (President TECO Services)
Revenue
  • Increase US$ 2,566.4 million (2014)
  • US$ 2,355.1 million (2013)
Net income
  • Increase US$ 206.4 million (2014)
  • US$ 188.7 million (2013)
Total assets
  • Increase US$ 8,726.2 million (2014)
  • US$ 7,448.0 million (2013)
Total equity
  • Increase US$ 2,333.7 million (2013)
  • US$ 2,291.8 million (2012)
Number of employees
3,200 (Note: Previous publicly reported employee count included New Mexico Gas Company)
Parent Emera Incorporated
Website www.tecoenergy.com

Gordon Gillette (CEO Tampa Electric Company, and President, Emera Florida Operations)
T.J. Szelistowski (President Peoples Gas Company

TECO Energy Inc. is an energy-related holding company based in Tampa, Florida, providing electricity to the greater Tampa area and central Florida, and natural gas throughout the state of Florida through its subsidiaries Tampa Electric Company and Peoples Gas Company respectively. Another subsidiary, TECO Services, Inc., provides IT, HR, legal, facilities, and other common services to Tampa Electric, Peoples Gas, and former TECO subsidiary New Mexico Gas Company. On September 4, 2015, Emera, a utility holding company based in Halifax, Nova Scotia, Canada, announced the pending acquisition of TECO Energy. That purchase closed on July 1, 2016, and TECO Energy, Inc. is now a wholly owned subsidiary of Emera, Inc.

In 2000, TECO Energy was fined $3.5 million for making changes to emissions producing facilities without installing new updated pollution controls. This led to the switch from coal to natural gas in one of its plants by 2004 and optimization of pollution controls in another. These changes were enacted to drastically cut emissions, notably sulfur dioxide and nitrogen oxide emissions.

TECO Energy completed a $330 million emissions control project in 2010, which its Big Bend Power Station one of the cleanest coal-fired power plants in the nation. The renovation reduced nitrogen oxide emissions at the plant by approximately 91 percent from levels recorded in 1998.

Since 1998, TECO has invested $1.2 billion in improvements to the company's systems, including the re-powering of the previously coal-fired Bayside Power Station to natural gas and the addition of pollution controls on a second, reducing sulfur dioxide and nitrogen oxide emissions by more than 91 percent and carbon dioxide levels by 20 percent from 1998 levels.

On September 28, 2017, TECO announced it was adding 600 MW of solar to its electricity-producing portfolio.

Q reports

Period Date Adjusted Actuals EPS GAAP EPS

Ratings

2016-05-25 Reiterated Rating Argus Hold
2015-09-09 Downgrade Argus Buy to Hold
2015-09-08 Reiterated Rating BMO Capital Markets Market Perform $27.00
2015-09-08 Downgrade Mizuho Buy to Neutral $24.00 to $27.50
2015-07-20 Reiterated Rating SunTrust Hold $18.00 to $20.00
2015-07-20 Boost Price Target Macquarie Neutral $20.00 to $21.50
2015-07-20 Boost Price Target Evercore ISI Hold $22.00
2015-07-20 Reiterated Rating SunTrust Banks Inc. Hold $18.00 to $20.00
2015-07-17 Upgrade Mizuho Neutral to Buy $19.00 to $24.00
2015-06-08 Lower Price Target SunTrust Neutral $19.00 to $18.00
2015-05-15 Reiterated Rating Credit Suisse Neutral $18.50 to $20.00
2015-05-15 Reiterated Rating Credit Suisse Group AG Neutral $18.50 to $20.00
2015-05-14 Initiated Coverage Credit Agricole Neutral $18.50 to $20.00
2015-05-14 Initiated Coverage Credit Agricole SA Neutral $18.50 to $20.00
2015-05-04 Reiterated Rating Barclays Equal Weight $22.00 to $20.00
2015-05-04 Reiterated Rating Barclays PLC Equal Weight $22.00 to $20.00
2015-04-23 Initiated Coverage Mizuho Neutral $19.00
2015-04-22 Initiated Coverage Guggenheim Neutral
2015-03-23 Reiterated Rating SunTrust Hold $19.00 to $20.00
2015-02-05 Boost Price Target Barclays Equal Weight $18.00 to $22.00
2014-10-23 Upgrade Argus Hold to Buy $22.00
2014-10-21 Upgrade Macquarie Underperform to Neutral $16.00 to $18.00
2014-10-21 Upgrade Barclays Underweight to Equal Weight $17.00 to $18.00
2014-09-29 Reiterated Rating Deutsche Bank Hold $19.00 to $18.00
2014-09-29 Reiterated Rating Deutsche Bank AG Hold $19.00 to $18.00
2014-09-15 Reiterated Rating SunTrust Neutral $18.00 to $17.00
2014-09-09 Initiated Coverage Citigroup Inc. Neutral $19.00
2014-06-26 Boost Price Target CRT Capital Fair Value $17.00 to $18.00
2014-05-12 Upgrade Ned Davis Research Neutral to Buy
2014-04-23 Reiterated Rating Deutsche Bank Hold $19.00
2014-01-31 Downgrade Wolfe Research Market Perform to Underperform
2014-01-31 Lower Price Target BMO Capital Markets $18.00 to $17.00
2014-01-06 Downgrade Macquarie Neutral to Underperform
2013-12-11 Reiterated Rating Deutsche Bank Hold $17.00 to $18.00
2013-11-05 Initiated Coverage CRT Capital Fair Value
2013-10-07 Initiated Coverage Ameriprise Financial Buy
2013-10-02 Boost Price Target Deutsche Bank Hold $16.50 to $17.00
2013-05-10 Upgrade Williams Capital Group Perform to Outperform $19 to $21
2012-12-12 Reiterated UBS Sell $16 to $15
2011-12-15 Upgrade Deutsche Bank Sell to Hold $16 to $17
2011-02-07 Downgrade Hilliard Lyons Buy to Neutral
2011-01-06 Upgrade UBS Neutral to Buy $17 to $20
2010-07-26 Downgrade FBR Capital Outperform to Mkt Perform $17 to $17
2010-03-23 Initiated FBR Capital Mkt Perform
2010-02-24 Initiated Deutsche Bank Sell
2010-02-08 Reiterated RBC Capital Mkts Underperform $15 to $16
2016-05-25 Reiterated Rating Argus Hold
2015-09-09 Downgrade Argus Buy to Hold
2015-09-08 Reiterated Rating BMO Capital Markets Market Perform $27.00
2015-09-08 Downgrade Mizuho Buy to Neutral $24.00 to $27.50
2015-07-20 Reiterated Rating SunTrust Hold $18.00 to $20.00

There is presents forecasts of rating agencies and recommendations for investors about this ticker

Major Shareholders

Name Relationship Total Shares Holding stocks
Brown Deirdre A Sr. VP-Corporate Strategy 0.04%  (88636) TE /
Taylor Clark President-TECO Coal Corp. 0.02%  (56021) TE /
AUSLEY DUBOSE 0.01%  (34439) CCBG / HURN / TE /