Northwestern Mutual Wealth Management Co. lowered its holdings in Energy Transfer Equity LP Unit (NYSE:ETE) by 44.2% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 8,442 shares of the pipeline company’s stock after selling 6,684 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Energy Transfer Equity LP Unit were worth $146,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Lee Financial Co raised its position in shares of Energy Transfer Equity LP Unit by 357.0% in the first quarter. Lee Financial Co now owns 7,623 shares of the pipeline company’s stock valued at $109,000 after purchasing an additional 5,955 shares during the period. Winslow Evans & Crocker Inc. increased its holdings in Energy Transfer Equity LP Unit by 78.9% during the 2nd quarter. Winslow Evans & Crocker Inc. now owns 6,800 shares of the pipeline company’s stock worth $120,000 after acquiring an additional 3,000 shares during the period. Sfmg LLC bought a new stake in Energy Transfer Equity LP Unit during the 1st quarter worth approximately $142,000. Wealth Alliance Advisory Group LLC bought a new stake in Energy Transfer Equity LP Unit during the 1st quarter worth approximately $156,000. Finally, Jump Trading LLC bought a new stake in Energy Transfer Equity LP Unit during the 1st quarter worth approximately $158,000. 44.41% of the stock is currently owned by institutional investors.

ETE stock opened at $17.66 on Tuesday. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.99 and a quick ratio of 0.76. Energy Transfer Equity LP Unit has a one year low of $12.80 and a one year high of $19.34. The company has a market capitalization of $20.11 billion, a price-to-earnings ratio of 14.60 and a beta of 1.90.

Energy Transfer Equity LP Unit (NYSE:ETE) last released its quarterly earnings results on Wednesday, August 8th. The pipeline company reported $0.31 EPS for the quarter, missing the Zacks’ consensus estimate of $0.46 by ($0.15). Energy Transfer Equity LP Unit had a return on equity of 5.50% and a net margin of 2.60%. The company had revenue of $14.12 billion during the quarter, compared to analysts’ expectations of $12.63 billion. During the same period in the prior year, the firm earned $0.18 EPS. Energy Transfer Equity LP Unit’s quarterly revenue was up 49.8% on a year-over-year basis. equities research analysts forecast that Energy Transfer Equity LP Unit will post 2.08 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, August 20th. Shareholders of record on Monday, August 6th were paid a $0.305 dividend. The ex-dividend date was Friday, August 3rd. This represents a $1.22 dividend on an annualized basis and a yield of 6.91%. Energy Transfer Equity LP Unit’s dividend payout ratio is presently 100.83%.

In related news, Director Richard D. Brannon purchased 25,000 shares of the business’s stock in a transaction on Thursday, September 6th. The stock was acquired at an average price of $17.53 per share, with a total value of $438,250.00. Following the purchase, the director now directly owns 57,619 shares in the company, valued at $1,010,061.07. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 3.28% of the stock is owned by insiders.

ETE has been the topic of a number of analyst reports. Zacks Investment Research lowered shares of Energy Transfer Equity LP Unit from a “buy” rating to a “hold” rating in a report on Wednesday, May 16th. ValuEngine lowered shares of Energy Transfer Equity LP Unit from a “hold” rating to a “sell” rating in a report on Thursday, June 28th. Stifel Nicolaus reaffirmed a “buy” rating and set a $21.00 target price (up previously from $19.00) on shares of Energy Transfer Equity LP Unit in a report on Friday, August 10th. US Capital Advisors reaffirmed a “hold” rating on shares of Energy Transfer Equity LP Unit in a report on Tuesday, July 17th. Finally, Bank of America raised shares of Energy Transfer Equity LP Unit from a “neutral” rating to a “buy” rating and set a $17.00 target price on the stock in a report on Thursday, May 17th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $20.69.

Energy Transfer Equity LP Unit Company Profile

Energy Transfer Equity, L.P. provides diversified energy-related services in the United States. It owns and operates approximately 7,900 miles of natural gas transportation pipelines and three natural gas storage facilities in Texas; and approximately 11,800 miles of interstate natural gas pipelines.

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Institutional Ownership by Quarter for Energy Transfer Equity LP Unit (NYSE:ETE)

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