Solaris Asset Management LLC cut its position in Energy Transfer Equity, L.P. (NYSE:ETE) by 6.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 19,775 shares of the pipeline company’s stock after selling 1,475 shares during the period. Solaris Asset Management LLC’s holdings in Energy Transfer Equity, L.P. were worth $355,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of ETE. Botty Investors LLC bought a new stake in Energy Transfer Equity, L.P. during the first quarter worth about $144,000. Advisory Services Network LLC bought a new stake in Energy Transfer Equity, L.P. during the first quarter worth about $163,000. Sei Investments Co. raised its stake 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 worth $156,000 after buying an additional 500 shares during the period. Hirtle Callaghan & Co LLC bought a new stake in Energy Transfer Equity, L.P. during the first quarter worth about $178,000. Finally, TNB Financial bought a new stake in Energy Transfer Equity, L.P. during the first quarter worth about $203,000. 50.41% of the stock is owned by institutional investors and hedge funds.

Energy Transfer Equity, L.P. (ETE) opened at 16.70 on Wednesday. Energy Transfer Equity, L.P. has a one year low of $13.77 and a one year high of $20.05. The firm’s 50-day moving average price is $17.37 and its 200 day moving average price is $18.17. The firm has a market cap of $18.02 billion, a P/E ratio of 20.05 and a beta of 1.90.

The company also recently announced a quarterly dividend, which will be paid on Monday, August 21st. Shareholders of record on Monday, August 7th will be paid a $0.285 dividend. This represents a $1.14 annualized dividend and a yield of 6.83%. The ex-dividend date is Thursday, August 3rd. Energy Transfer Equity, L.P.’s payout ratio is 135.71%.

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A number of research firms have recently issued reports on ETE. Zacks Investment Research raised shares of Energy Transfer Equity, L.P. from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 1st. BidaskClub lowered shares of Energy Transfer Equity, L.P. from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. ValuEngine lowered shares of Energy Transfer Equity, L.P. from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. BMO Capital Markets reissued a “hold” rating and issued a $19.00 price target on shares of Energy Transfer Equity, L.P. in a research report on Monday, April 17th. Finally, Stifel Nicolaus began coverage on shares of 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. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Energy Transfer Equity, L.P. has an average rating of “Buy” and a consensus target price of $20.72.

About Energy Transfer Equity, L.P.

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.

Institutional Ownership by Quarter for Energy Transfer Equity, L.P. (NYSE:ETE)

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