After Energy Transfer Equity (ETE) announced that its CFO was departing, Wells Fargo expects it and The Williams Company (WMB), with which it has agreed to merge, to drop in today's trading. However, the firm does not think that the CFO's departure indicates any change to the pending merger, and it has no knowledge of any accounting issues that caused the CFO to leave. Wells continues to expect patient investors to be rewarded by Energy Transfer stock, and it keeps an Outperform rating on the shares. Wells keeps a Market Perform rating on Williams.