Energy Transfer Equity (ETE) Shares Gap Down to $17.33

Energy Transfer Equity LP (NYSE:ETE) gapped down prior to trading on Thursday . The stock had previously closed at $17.56, but opened at $17.33. Energy Transfer Equity shares last traded at $17.20, with a volume of 3150308 shares changing hands.

ETE has been the subject of a number of recent research reports. Wolfe Research raised Energy Transfer Equity from a “market perform” rating to an “outperform” rating in a research note on Monday, December 18th. Zacks Investment Research lowered Energy Transfer Equity from a “hold” rating to a “sell” rating in a research note on Tuesday, October 17th. Goldman Sachs Group raised Energy Transfer Equity from a “neutral” rating to a “buy” rating and set a $23.00 target price for the company in a research note on Tuesday, October 17th. Stifel Nicolaus reissued a “buy” rating and issued a $20.00 target price on shares of Energy Transfer Equity in a research note on Thursday, October 12th. Finally, Robert W. Baird reissued a “buy” rating and issued a $24.00 target price on shares of Energy Transfer Equity in a research note on Friday, October 27th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $21.78.

The stock has a market capitalization of $17,910.00, a PE ratio of 15.96 and a beta of 1.81. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.11 and a current ratio of 1.36.

Energy Transfer Equity (NYSE:ETE) last released its quarterly earnings results on Tuesday, November 7th. The pipeline company reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.12). The business had revenue of $9.47 billion for the quarter, compared to the consensus estimate of $16.25 billion. Energy Transfer Equity had a net margin of 2.29% and a return on equity of 3.84%. The company’s revenue for the quarter was up 23.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.19 EPS. sell-side analysts anticipate that Energy Transfer Equity LP will post 0.99 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 20th. Shareholders of record on Thursday, February 8th will be given a dividend of $0.305 per share. This is a positive change from Energy Transfer Equity’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Wednesday, February 7th. This represents a $1.22 dividend on an annualized basis and a yield of 7.35%. Energy Transfer Equity’s dividend payout ratio is presently 113.46%.

Several hedge funds have recently bought and sold shares of the business. First Dallas Securities Inc. purchased a new position in shares of Energy Transfer Equity during the 4th quarter worth approximately $190,000. Texas Yale Capital Corp. grew its holdings in shares of Energy Transfer Equity by 1.4% during the 4th quarter. Texas Yale Capital Corp. now owns 577,960 shares of the pipeline company’s stock worth $9,976,000 after acquiring an additional 8,025 shares during the period. Wealthstreet Investment Advisors LLC purchased a new position in shares of Energy Transfer Equity during the 4th quarter worth approximately $1,261,000. California Public Employees Retirement System grew its holdings in shares of Energy Transfer Equity by 3.1% during the 4th quarter. California Public Employees Retirement System now owns 1,697,200 shares of the pipeline company’s stock worth $29,294,000 after acquiring an additional 51,000 shares during the period. Finally, Hodges Capital Management Inc. grew its holdings in shares of Energy Transfer Equity by 28.3% during the 4th quarter. Hodges Capital Management Inc. now owns 22,650 shares of the pipeline company’s stock worth $391,000 after acquiring an additional 5,000 shares during the period. Hedge funds and other institutional investors own 51.31% of the company’s stock.

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Energy Transfer Equity 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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