Conning Inc. cut its position in Energy Transfer Equity L.P. (NYSE:ETE) by 3.6% during the second quarter, Holdings Channel reports. The institutional investor owned 553,034 shares of the company’s stock after selling 20,909 shares during the period. Conning Inc.’s holdings in Energy Transfer Equity L.P. were worth $7,947,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. HL Financial Services LLC raised its stake in shares of Energy Transfer Equity L.P. by 74.3% in the second quarter. HL Financial Services LLC now owns 31,900 shares of the company’s stock worth $458,000 after buying an additional 13,600 shares in the last quarter. Investment House LLC acquired a new stake in shares of Energy Transfer Equity L.P. during the second quarter worth approximately $586,000. Sigma Planning Corp raised its stake in shares of Energy Transfer Equity L.P. by 6.1% in the second quarter. Sigma Planning Corp now owns 19,564 shares of the company’s stock worth $281,000 after buying an additional 1,123 shares in the last quarter. Gilman Hill Asset Management LLC acquired a new stake in shares of Energy Transfer Equity L.P. during the second quarter worth approximately $154,000. Finally, Biondo Investment Advisors LLC raised its stake in shares of Energy Transfer Equity L.P. by 17.9% in the second quarter. Biondo Investment Advisors LLC now owns 40,200 shares of the company’s stock worth $578,000 after buying an additional 6,100 shares in the last quarter. 44.11% of the stock is currently owned by institutional investors and hedge funds.

Shares of Energy Transfer Equity L.P. (NYSE:ETE) traded up 2.19% during midday trading on Wednesday, hitting $16.79. 3,384,827 shares of the stock were exchanged. The firm has a market capitalization of $17.61 billion, a price-to-earnings ratio of 15.33 and a beta of 1.58. Energy Transfer Equity L.P. has a 1-year low of $4.00 and a 1-year high of $25.36. The stock’s 50-day moving average price is $17.43 and its 200-day moving average price is $13.34.

Energy Transfer Equity L.P. (NYSE:ETE) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.29 by $0.06. Energy Transfer Equity L.P. had a return on equity of 6.46% and a net margin of 3.09%. The firm earned $9.34 billion during the quarter, compared to analysts’ expectations of $8.09 billion. During the same period last year, the business posted $0.28 EPS. The company’s revenue was down 19.4% compared to the same quarter last year. On average, analysts forecast that Energy Transfer Equity L.P. will post $0.97 EPS for the current year.

A number of equities analysts recently weighed in on the stock. Jefferies Group boosted their target price on shares of Energy Transfer Equity L.P. from $17.00 to $20.00 and gave the stock a “buy” rating in a report on Monday, July 25th. Credit Suisse Group AG restated an “outperform” rating and set a $20.00 target price on shares of Energy Transfer Equity L.P. in a report on Tuesday, July 26th. 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. Deutsche Bank AG assumed coverage on shares of Energy Transfer Equity L.P. in a report on Thursday, July 7th. They set a “buy” rating and a $20.00 target price on the stock. Finally, Goldman Sachs Group Inc. restated a “neutral” rating and set a $17.00 target price on shares of Energy Transfer Equity L.P. in a report on Wednesday, July 13th. Eight research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $17.63.

About Energy Transfer Equity L.P.

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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