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

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ETE. ING Groep NV raised its position in Energy Transfer Equity by 87.6% in the first quarter. ING Groep NV now owns 30,327,850 shares of the company’s stock worth $215,934,000 after buying an additional 14,158,432 shares during the period. Harvest Fund Advisors LLC raised its position in 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 worth $149,609,000 after buying an additional 2,968,478 shares during the period. Brookfield Asset Management Inc. raised its position in 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 worth $13,054,000 after buying an additional 668,054 shares during the period. Walnut Private Equity Partners LLC raised its position in 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 worth $20,306,000 after buying an additional 213,114 shares during the period. Finally, State Street Corp raised its position in Energy Transfer Equity by 4.1% in the first quarter. State Street Corp now owns 723,087 shares of the company’s stock worth $5,156,000 after buying an additional 28,285 shares during the period. 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 trading on Thursday, hitting $16.91. 3,704,223 shares of the company’s stock traded hands. The firm’s 50-day moving average price is $17.46 and its 200 day moving average price is $13.39. The stock has a market cap of $17.74 billion, a P/E ratio of 15.44 and a beta of 1.58. Energy Transfer Equity LP has a 12-month low of $4.00 and a 12-month high of $25.36.

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

ETE has been the topic of several analyst reports. Vetr raised shares of Energy Transfer Equity from a “hold” rating to a “buy” rating and set a $14.22 price target on the stock in a research report on Monday, June 13th. 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 report on Monday, July 18th. Deutsche Bank AG initiated coverage on shares of Energy Transfer Equity in a research report on Thursday, July 7th. They set a “buy” rating and a $20.00 price target on the stock. Morgan Stanley initiated coverage on shares of Energy Transfer Equity in a research report on Monday, August 15th. They set an “overweight” rating and a $20.00 price target on the stock. Finally, Credit Suisse Group AG reaffirmed a “buy” rating and set a $20.00 price target on shares of Energy Transfer Equity in a research report on Sunday, August 7th. Eight equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Energy Transfer Equity currently has an average rating of “Buy” and an average 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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