Searle & CO. held its position in Energy Transfer Equity, L.P. (NYSE:ETE) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 10,000 shares of the pipeline company’s stock at the end of the second quarter. Searle & CO.’s holdings in Energy Transfer Equity, L.P. were worth $180,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Peoples Financial Services CORP. boosted its position in Energy Transfer Equity, L.P. by 0.7% in the first quarter. Peoples Financial Services CORP. now owns 44,728 shares of the pipeline company’s stock valued at $882,000 after buying an additional 320 shares during the last quarter. OppenheimerFunds Inc. boosted its position in Energy Transfer Equity, L.P. by 4.3% in the first quarter. OppenheimerFunds Inc. now owns 27,097,302 shares of the pipeline company’s stock valued at $534,629,000 after buying an additional 1,112,663 shares during the last quarter. New England Private Wealth Advisors LLC acquired a new stake in shares of Energy Transfer Equity, L.P. during the first quarter valued at about $312,000. Morgan Stanley raised its stake in shares of Energy Transfer Equity, L.P. by 1.1% in the first quarter. Morgan Stanley now owns 48,923,092 shares of the pipeline company’s stock valued at $965,253,000 after buying an additional 529,737 shares during the period. Finally, Sanders Morris Harris Inc. raised its stake in shares of Energy Transfer Equity, L.P. by 190.3% in the first quarter. Sanders Morris Harris Inc. now owns 80,550 shares of the pipeline company’s stock valued at $1,590,000 after buying an additional 52,800 shares during the period. 50.64% of the stock is owned by hedge funds and other institutional investors.
Shares of Energy Transfer Equity, L.P. (NYSE ETE) traded down 1.12% during midday trading on Monday, hitting $17.65. 1,733,950 shares of the stock traded hands. Energy Transfer Equity, L.P. has a 12-month low of $13.77 and a 12-month high of $20.05. The stock has a market cap of $19.05 billion, a price-to-earnings ratio of 21.19 and a beta of 1.91. The company’s 50 day moving average price is $17.19 and its 200-day moving average price is $18.21.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 21st. Investors of record on Monday, August 7th will be paid a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a dividend yield of 6.39%. The ex-dividend date of this dividend is Thursday, August 3rd. Energy Transfer Equity, L.P.’s payout ratio is currently 135.71%.
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Several brokerages recently issued reports on ETE. Sanford C. Bernstein began coverage on shares of Energy Transfer Equity, L.P. in a research report on Tuesday, May 16th. They set a “market perform” rating for the company. Zacks Investment Research lowered shares of Energy Transfer Equity, L.P. from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 25th. Royal Bank Of Canada reiterated a “buy” rating and issued a $22.00 price target on shares of Energy Transfer Equity, L.P. in a research report on Tuesday, May 23rd. BMO Capital Markets reiterated 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, US Capital Advisors reiterated a “hold” rating on shares of Energy Transfer Equity, L.P. in a research report on Friday, April 7th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Energy Transfer Equity, L.P. presently has an average rating of “Buy” and an average price target of $20.72.
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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