Energy Transfer Equity L.P. (NYSE:ETE) shares dropped 2.9% on Thursday . The stock traded as low as $16.50 and last traded at $16.50, with a volume of 3,240,738 shares. The stock had previously closed at $16.99.

ETE has been the subject of several recent analyst reports. Vetr upgraded Energy Transfer Equity L.P. from a “hold” rating to a “buy” rating and set a $7.95 price target for the company in a research note on Monday, March 28th. Zacks Investment Research upgraded Energy Transfer Equity L.P. from a “hold” rating to a “buy” rating and set a $18.00 price target for the company in a research note on Monday, July 18th. Barclays PLC restated an “overweight” rating and issued a $20.00 price target on shares of Energy Transfer Equity L.P. in a research note on Tuesday, July 5th. Goldman Sachs Group Inc. restated a “neutral” rating and issued a $17.00 price target on shares of Energy Transfer Equity L.P. in a research note on Wednesday, July 13th. Finally, Jefferies Group reiterated a “buy” rating and set a $17.00 price objective (up previously from $15.00) on shares of Energy Transfer Equity L.P. in a research report on Wednesday, June 8th. Seven analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $16.52.

The stock’s 50 day moving average is $14.59 and its 200-day moving average is $10.55. The company has a market capitalization of $17.62 billion and a price-to-earnings ratio of 14.67.

Energy Transfer Equity L.P. (NYSE:ETE) last posted its quarterly earnings data on Wednesday, May 4th. The company reported $0.30 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.01. During the same period in the previous year, the business earned $0.52 EPS. The business earned $7.98 billion during the quarter, compared to analyst estimates of $10.28 billion. The firm’s revenue for the quarter was down 23.2% compared to the same quarter last year. On average, equities research analysts expect that Energy Transfer Equity L.P. will post $1.22 EPS for the current fiscal year.

Several hedge funds have bought and sold shares of ETE. First Trust Advisors LP acquired a new stake in Energy Transfer Equity L.P. during the fourth quarter worth $7,929,000. Pinnacle Associates Ltd. boosted its stake in Energy Transfer Equity L.P. by 4.3% in the fourth quarter. Pinnacle Associates Ltd. now owns 164,609 shares of the company’s stock worth $2,262,000 after buying an additional 6,779 shares during the last quarter. Liberty Mutual Group Asset Management Inc. boosted its stake in Energy Transfer Equity L.P. by 87.2% in the fourth quarter. Liberty Mutual Group Asset Management Inc. now owns 135,279 shares of the company’s stock worth $1,859,000 after buying an additional 63,023 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in Energy Transfer Equity L.P. by 33.0% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 8,031,102 shares of the company’s stock worth $110,347,000 after buying an additional 1,991,245 shares during the last quarter. Finally, Morgan Stanley boosted its stake in Energy Transfer Equity L.P. by 17.0% in the fourth quarter. Morgan Stanley now owns 68,289,281 shares of the company’s stock worth $938,295,000 after buying an additional 9,943,539 shares during the last quarter.

Energy Transfer Equity, L.P. (ETE) directly and indirectly owns equity interests in Energy Transfer Partners, L.P. (ETP) and SUN LP, which are engaged in diversified energy-related services. The Company, through its family of companies, owns and operates over 71,000 miles of natural gas, natural gas liquids (NGL), refined products and crude oil pipelines.

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