Zacks Investment Research upgraded shares of Energy Transfer Equity, L.P. (NYSE:ETE) from a strong sell rating to a hold rating in a research note released on Tuesday.

According to Zacks, “Energy Transfer Equity, L.P. owns a diversified portfolio of energy assets, including natural gas operations consisting miles of natural gas gathering and transportation pipelines, natural gas treating and processing assets located in Texas and Louisiana, and three natural gas storage facilities located in Texas. “

A number of other research analysts have also recently weighed in on the company. BidaskClub cut Energy Transfer Equity, L.P. from a hold rating to a sell rating in a research report on Friday, July 28th. Stifel Nicolaus assumed coverage on Energy Transfer Equity, L.P. in a research report on Thursday, July 13th. They issued a buy rating and a $20.00 price target for the company. Deutsche Bank AG dropped their price target on Energy Transfer Equity, L.P. from $23.00 to $22.00 and set a buy rating for the company in a research report on Wednesday, June 21st. ValuEngine cut Energy Transfer Equity, L.P. from a buy rating to a hold rating in a research report on Friday, June 2nd. Finally, Royal Bank Of Canada reiterated a buy rating and set a $22.00 price objective on shares of Energy Transfer Equity, L.P. in a research report on Tuesday, May 23rd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. Energy Transfer Equity, L.P. has a consensus rating of Buy and an average price target of $20.72.

Shares of Energy Transfer Equity, L.P. (NYSE:ETE) traded up 0.12% during midday trading on Tuesday, reaching $17.33. 2,858,170 shares of the company traded hands. The stock’s 50-day moving average is $17.26 and its 200-day moving average is $18.19. The stock has a market capitalization of $18.70 billion, a P/E ratio of 20.80 and a beta of 1.90. Energy Transfer Equity, L.P. has a 1-year low of $13.77 and a 1-year high of $20.05.

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The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 21st. Stockholders of record on Monday, August 7th will be issued a $0.285 dividend. The ex-dividend date is Thursday, August 3rd. This represents a $1.14 annualized dividend and a dividend yield of 6.59%. Energy Transfer Equity, L.P.’s dividend payout ratio (DPR) is 135.71%.

A number of hedge funds and other institutional investors have recently bought and sold shares of ETE. Botty Investors LLC acquired a new position in Energy Transfer Equity, L.P. during the first quarter valued at $144,000. Advisory Services Network LLC acquired a new position in Energy Transfer Equity, L.P. during the first quarter valued at $163,000. Sei Investments Co. raised its position in Energy Transfer Equity, L.P. by 6.1% in the second quarter. Sei Investments Co. now owns 8,700 shares of the pipeline company’s stock valued at $156,000 after buying an additional 500 shares during the last quarter. Hirtle Callaghan & Co LLC acquired a new position in Energy Transfer Equity, L.P. during the first quarter valued at $178,000. Finally, TNB Financial acquired a new position in Energy Transfer Equity, L.P. during the first quarter valued at $203,000. 50.64% of the stock is currently owned by hedge funds and other institutional investors.

Energy Transfer Equity, L.P. Company Profile

Energy Transfer Equity, L.P. (ETE) owns equity interests in Energy Transfer Partners, L.P. (ETP) and Sunoco LP, which are engaged in diversified energy-related services. The Company’s segments include Investment in ETP, including the consolidated operations of ETP; Investment in Sunoco LP, including the consolidated operations of Sunoco LP; Investment in Lake Charles LNG, including the operations of Lake Charles LNG, and Corporate and Other.

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Analyst Recommendations for Energy Transfer Equity, L.P. (NYSE:ETE)

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