Investment House LLC acquired a new stake in shares of Energy Transfer Equity LP (NYSE:ETE) during the second quarter, Holdings Channel reports. The institutional investor acquired 40,795 shares of the company’s stock, valued at approximately $586,000.

Several other institutional investors have also recently made changes to their positions in the stock. ING Groep NV increased its position in shares of Energy Transfer Equity by 87.6% in the first quarter. ING Groep NV now owns 30,327,850 shares of the company’s stock valued at $215,934,000 after buying an additional 14,158,432 shares during the last quarter. Harvest Fund Advisors LLC increased its position in shares of Energy Transfer Equity by 16.5% in the first quarter. Harvest Fund Advisors LLC now owns 20,983,012 shares of the company’s stock valued at $149,609,000 after buying an additional 2,968,478 shares during the last quarter. Brookfield Asset Management Inc. increased its position in shares of Energy Transfer Equity by 57.5% in the first quarter. Brookfield Asset Management Inc. now owns 1,830,844 shares of the company’s stock valued at $13,054,000 after buying an additional 668,054 shares during the last quarter. Walnut Private Equity Partners LLC increased its position in shares of Energy Transfer Equity by 17.8% in the second quarter. Walnut Private Equity Partners LLC now owns 1,413,114 shares of the company’s stock valued at $20,306,000 after buying an additional 213,114 shares during the last quarter. Finally, Quadrature Capital Ltd purchased a new position in shares of Energy Transfer Equity during the first quarter valued at about $840,000. 44.11% of the stock is currently owned by institutional investors and hedge funds.

Energy Transfer Equity LP (NYSE:ETE) traded up 0.71% during midday trading on Thursday, reaching $16.91. 3,704,223 shares of the company were exchanged. The firm’s 50-day moving average is $17.46 and its 200-day moving average is $13.39. Energy Transfer Equity LP has a one year low of $4.00 and a one year high of $25.36. The firm has a market cap of $17.74 billion, a P/E ratio of 15.44 and a beta of 1.58.

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

ETE has been the topic of several recent analyst reports. Vetr downgraded shares of Energy Transfer Equity from a “strong-buy” rating to a “buy” rating and set a $14.22 price objective on the stock. in a research note on Monday, June 20th. Zacks Investment Research raised shares of Energy Transfer Equity from a “hold” rating to a “buy” rating and set a $18.00 price target on the stock in a research note on Monday, July 18th. Credit Suisse Group AG reaffirmed an “outperform” rating and set a $20.00 price target on shares of Energy Transfer Equity in a research note on Tuesday, July 26th. Jefferies Group increased their price target on shares of Energy Transfer Equity from $17.00 to $20.00 and gave the stock a “buy” rating in a research note on Monday, July 25th. Finally, Barclays PLC reaffirmed an “overweight” rating and set a $20.00 price target on shares of Energy Transfer Equity in a research note on Tuesday, July 5th. Eight analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $17.63.

About Energy Transfer Equity

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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