NEW YORK (TheStreet) -- Shares of Energy Transfer Equity  (ETE) closed up by 2.07% to $13.09 on Wednesday, as oil prices jumped more than 3% throughout the day.

Crude oil is up by 3.16% to $46.07 per barrel and Brent oil climbed by 4.17% to $47.42 per barrel late this afternoon.

Wednesday's rally in oil prices came after the U.S. government reported crude inventories fell unexpectedly for the first time since March, CNBC reported.

In addition, BMO Capital Markets increased its price target on the stock to $13 from $8 and maintained its "market perform" rating, despite the company's unlikely merger with Williams Cos. (WMB).

"Energy Transfer CEO Kelcy Warren recently reaffirmed that the merger with Williams Cos. is unlikely to close, with the transaction in its current form unable to receive a tax opinion from Latham & Watkins law firm," BMO analysts said in an investor note.

The companies need a 721 Opinion from the law firm to complete the deal. Energy Transfer made an offer in September of $43.50 for each Williams share.

The price target valuation is excluding the consideration of "any financial settlements that may come from the deal break-up," BMO analysts noted.

Dallas-based Energy Transfer owns equity interests in Energy Transfer Partners (ETP) and SUN, which are engaged in diversified energy-related services.

Separately, TheStreet Ratings rated Energy Transfer Equity as a "hold" with a score of C.

TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon.

Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author. TheStreet Ratings has this to say about the recommendation:

The primary factors that have impacted this rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks.

The company's strengths can be seen in multiple areas, such as its impressive record of earnings per share growth and increase in net income. However, as a counter to these strengths, TheStreet Ratings also finds weaknesses including a generally disappointing performance in the stock itself and poor profit margins.

You can view the full analysis from the report here: ETE