Energy Transfer Equity L.P. (ETE) Trading 1.9% Higher
Energy Transfer Equity L.P. (NYSE:ETE) shares traded up 1.9% during trading on Tuesday . The company traded as high as $16.30 and last traded at $15.89, with a volume of 5,463,116 shares. The stock had previously closed at $15.60.
A number of research analysts have recently commented on the stock. Vetr cut shares of Energy Transfer Equity L.P. from a “strong-buy” rating to a “buy” rating and set a $14.22 price target on the stock. in a report on Tuesday, May 17th. 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 report on Wednesday, July 13th. Barclays PLC restated an “overweight” rating and issued a $20.00 price target on shares of Energy Transfer Equity L.P. in a report on Tuesday, July 5th. Zacks Investment Research upgraded shares of Energy Transfer Equity L.P. from a “strong sell” rating to a “hold” rating in a report on Wednesday, April 27th. Finally, Jefferies Group reaffirmed a “buy” rating and issued a $17.00 price objective (up from $15.00) on shares of Energy Transfer Equity L.P. in a research note on Wednesday, June 8th. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $17.11.
The stock’s 50-day moving average is $15.14 and its 200-day moving average is $10.85. The company has a market cap of $16.60 billion and a PE ratio of 13.83.
Energy Transfer Equity L.P. (NYSE:ETE) last issued its quarterly earnings data 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. During the same period in the previous year, the business posted $0.52 earnings per share. The business had revenue of $7.98 billion for 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. Analysts forecast that Energy Transfer Equity L.P. will post $1.17 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 19th. Investors of record on Monday, August 8th will be given a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a dividend yield of 7.17%. The ex-dividend date is Thursday, August 4th.
Other hedge funds have modified their holdings of the company. Advantus Capital Management Inc acquired a new stake in shares of Energy Transfer Equity L.P. during the fourth quarter worth about $1,047,000. Liberty Mutual Group Asset Management Inc. increased its stake in shares of 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. Veritable L.P. increased its stake 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 during the last quarter. Marshall Wace LLP purchased a new position in Energy Transfer Equity L.P. during the fourth quarter valued at $4,748,000. Finally, Eaton Vance Management increased its position 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 valued at $5,991,000 after buying an additional 52,300 shares in 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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