Belpointe Asset Management LLC acquired a new position in Energy Transfer Equity LP (NYSE:ETE) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 10,578 shares of the pipeline company’s stock, valued at approximately $184,000.
Other hedge funds have also bought and sold shares of the company. Penserra Capital Management LLC purchased a new position in Energy Transfer Equity in the second quarter worth $106,000. Ffcm LLC lifted its position in shares of Energy Transfer Equity by 226.7% during the 2nd quarter. Ffcm LLC now owns 6,273 shares of the pipeline company’s stock valued at $114,000 after buying an additional 4,353 shares during the last quarter. AllSquare Wealth Management LLC purchased a new position in shares of Energy Transfer Equity during the 3rd quarter valued at $139,000. Sei Investments Co. lifted its position in shares of Energy Transfer Equity by 6.1% during the 2nd 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. Finally, Advisory Services Network LLC lifted its position in shares of Energy Transfer Equity by 12.6% during the 2nd quarter. Advisory Services Network LLC now owns 9,331 shares of the pipeline company’s stock valued at $168,000 after buying an additional 1,047 shares during the last quarter. 51.53% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts have recently commented on the company. Royal Bank of Canada reaffirmed a “buy” rating and set a $22.00 price target on shares of Energy Transfer Equity in a research report on Wednesday, September 6th. Morgan Stanley raised Energy Transfer Equity to a “buy” rating in a research report on Wednesday, August 30th. BMO Capital Markets set a $19.00 price target on Energy Transfer Equity and gave the company a “hold” rating in a research report on Thursday, October 12th. Jefferies Group reaffirmed a “buy” rating and set a $20.00 price target on shares of Energy Transfer Equity in a research report on Monday, October 16th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $20.00 price target on shares of Energy Transfer Equity in a research report on Thursday, October 12th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $21.78.
Energy Transfer Equity (NYSE:ETE) last issued its quarterly earnings data on Tuesday, November 7th. The pipeline company reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.12). The company had revenue of $9.47 billion for the quarter, compared to analysts’ expectations of $16.25 billion. Energy Transfer Equity had a return on equity of 3.84% and a net margin of 2.29%. The business’s revenue for the quarter was up 23.0% on a year-over-year basis. During the same period last year, the company posted $0.19 EPS. research analysts predict that Energy Transfer Equity LP will post 0.99 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, November 20th. Investors of record on Tuesday, November 7th were issued a dividend of $0.295 per share. This is a boost from Energy Transfer Equity’s previous quarterly dividend of $0.29. The ex-dividend date was Monday, November 6th. This represents a $1.18 dividend on an annualized basis and a yield of 7.04%. Energy Transfer Equity’s dividend payout ratio is 143.90%.
ILLEGAL ACTIVITY NOTICE: “10,578 Shares in Energy Transfer Equity LP (ETE) Acquired by Belpointe Asset Management LLC” was first published by Sports Perspectives and is owned by of Sports Perspectives. If you are viewing this news story on another publication, it was illegally stolen and reposted in violation of United States and international copyright & trademark legislation. The original version of this news story can be viewed at https://sportsperspectives.com/2017/12/18/10578-shares-in-energy-transfer-equity-lp-ete-acquired-by-belpointe-asset-management-llc.html.
Energy Transfer Equity 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.
Receive News & Ratings for Energy Transfer Equity Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Energy Transfer Equity and related companies with MarketBeat.com's FREE daily email newsletter.