Novare Capital Management LLC boosted its stake in Energy Transfer Equity, L.P. (NYSE:ETE) by 0.4% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 172,691 shares of the pipeline company’s stock after buying an additional 686 shares during the period. Novare Capital Management LLC’s holdings in Energy Transfer Equity, L.P. were worth $3,102,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of ETE. Botty Investors LLC bought a new position in shares of Energy Transfer Equity, L.P. during the first quarter valued at about $144,000. Advisory Services Network LLC bought a new position in shares of Energy Transfer Equity, L.P. during the first quarter valued at about $163,000. Sei Investments Co. raised its position in shares of 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 in the last quarter. Hirtle Callaghan & Co LLC bought a new position in shares of Energy Transfer Equity, L.P. during the first quarter valued at about $178,000. Finally, TNB Financial bought a new position in shares of Energy Transfer Equity, L.P. during the first quarter valued at about $203,000. 50.27% of the stock is currently owned by institutional investors and hedge funds.
Energy Transfer Equity, L.P. (NYSE:ETE) opened at 17.71 on Wednesday. The stock has a market capitalization of $19.04 billion, a P/E ratio of 32.08 and a beta of 1.90. Energy Transfer Equity, L.P. has a 52 week low of $13.77 and a 52 week high of $20.05. The company has a 50 day moving average of $17.65 and a 200 day moving average of $18.11.
Energy Transfer Equity, L.P. (NYSE:ETE) last posted its earnings results on Tuesday, August 8th. The pipeline company reported $0.18 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by $0.07. Energy Transfer Equity, L.P. had a return on equity of 3.79% and a net margin of 2.18%. The firm had revenue of $8.94 billion for the quarter, compared to analyst estimates of $11.41 billion. During the same period in the previous year, the company posted $0.23 EPS. Energy Transfer Equity, L.P.’s revenue was up 20.5% on a year-over-year basis. Equities analysts expect that Energy Transfer Equity, L.P. will post $1.16 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, August 21st. Shareholders of record on Monday, August 7th will be issued a dividend of $0.285 per share. The ex-dividend date of this dividend is Thursday, August 3rd. This represents a $1.14 annualized dividend and a yield of 6.44%. Energy Transfer Equity, L.P.’s dividend payout ratio (DPR) is 144.31%.
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A number of research analysts have weighed in on the stock. Zacks Investment Research lowered shares of Energy Transfer Equity, L.P. from a “hold” rating to a “strong sell” rating in a research note on Wednesday, April 26th. Sanford C. Bernstein assumed coverage on shares of Energy Transfer Equity, L.P. in a report on Tuesday, May 16th. They issued a “market perform” rating for the company. Wolfe Research reiterated a “market perform” rating on shares of Energy Transfer Equity, L.P. in a report on Friday, May 12th. Jefferies Group LLC upgraded shares of Energy Transfer Equity, L.P. from a “hold” rating to a “buy” rating and set a $21.00 target price for the company in a report on Wednesday, April 19th. Finally, Royal Bank Of Canada restated a “buy” rating and set a $22.00 price objective on shares of Energy Transfer Equity, L.P. in a report on Tuesday, May 23rd. One research analyst has rated the stock with a sell rating, six have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Energy Transfer Equity, L.P. has a consensus rating of “Buy” and an average price target of $20.77.
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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