Shares of Energy Transfer Equity L.P. (NYSE:ETE) dropped 4.6% during trading on Monday . The stock traded as low as $15.79 and last traded at $15.82, with a volume of 3,322,498 shares. The stock had previously closed at $16.59.

ETE has been the topic of several research analyst reports. Vetr downgraded shares of Energy Transfer Equity L.P. from a “strong-buy” rating to a “buy” rating and set a $14.22 target price on the stock. in a report on Wednesday, June 1st. Jefferies Group reiterated a “buy” rating and issued a $17.00 price objective (up from $15.00) on shares of Energy Transfer Equity L.P. in a report on Wednesday, June 8th. Deutsche Bank AG started coverage on shares of Energy Transfer Equity L.P. in a report on Thursday, July 7th. They issued a “buy” rating and a $20.00 price objective on the stock. Finally, Zacks Investment Research upgraded shares of Energy Transfer Equity L.P. from a “hold” rating to a “buy” rating and set a $18.00 price objective on the stock in a report on Monday, July 18th. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $17.11.

The company has a market capitalization of $17.51 billion and a PE ratio of 14.59. The company has a 50-day moving average price of $15.14 and a 200-day moving average price of $10.85.

Energy Transfer Equity L.P. (NYSE:ETE) last issued its earnings results on Wednesday, May 4th. The company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.01. The firm earned $7.98 billion during the quarter, compared to the consensus estimate of $10.28 billion. Energy Transfer Equity L.P.’s revenue for the quarter was down 23.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.52 earnings per share. Equities analysts predict that Energy Transfer Equity L.P. will post $1.17 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, August 19th. Investors of record on Monday, August 8th will be issued a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a dividend yield of 7.17%. The ex-dividend date of this dividend is Thursday, August 4th.

Several institutional investors have recently modified their holdings of the company. Veritable L.P. boosted its position in shares of Energy Transfer Equity L.P. by 3.6% in the fourth quarter. Veritable L.P. now owns 228,712 shares of the company’s stock worth $3,143,000 after buying an additional 7,972 shares in the last quarter. Stephens Inc. AR raised its stake in Energy Transfer Equity L.P. by 3.4% in the fourth quarter. Stephens Inc. AR now owns 593,500 shares of the company’s stock worth $8,155,000 after buying an additional 19,421 shares during the last quarter. Fort Washington Investment Advisors Inc. OH raised its stake in Energy Transfer Equity L.P. by 4.4% in the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 826,100 shares of the company’s stock worth $11,351,000 after buying an additional 34,700 shares during the last quarter. Eaton Vance Management raised its stake in Energy Transfer Equity L.P. by 13.6% in the fourth quarter. Eaton Vance Management now owns 436,015 shares of the company’s stock worth $5,991,000 after buying an additional 52,300 shares during the last quarter. Finally, Liberty Mutual Group Asset Management Inc. raised 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.

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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