Bamco Inc. NY reduced its holdings in shares of Energy Transfer Equity LP (NYSE:ETE) by 18.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 84,800 shares of the pipeline company’s stock after selling 19,300 shares during the period. Bamco Inc. NY’s holdings in Energy Transfer Equity were worth $1,464,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Harvest Fund Advisors LLC increased its stake in Energy Transfer Equity by 9.4% during the 3rd quarter. Harvest Fund Advisors LLC now owns 45,684,871 shares of the pipeline company’s stock valued at $794,003,000 after purchasing an additional 3,914,284 shares in the last quarter. Chickasaw Capital Management LLC increased its stake in Energy Transfer Equity by 1.9% during the 4th quarter. Chickasaw Capital Management LLC now owns 22,407,074 shares of the pipeline company’s stock valued at $386,746,000 after purchasing an additional 410,501 shares in the last quarter. Atlantic Trust Group LLC increased its stake in Energy Transfer Equity by 8.7% during the 3rd quarter. Atlantic Trust Group LLC now owns 13,290,034 shares of the pipeline company’s stock valued at $230,980,000 after purchasing an additional 1,060,430 shares in the last quarter. ING Groep NV bought a new stake in Energy Transfer Equity during the 3rd quarter valued at about $189,859,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in Energy Transfer Equity by 4.1% during the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 10,597,720 shares of the pipeline company’s stock valued at $184,188,000 after purchasing an additional 416,462 shares in the last quarter. 49.07% of the stock is owned by institutional investors.
A number of analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Energy Transfer Equity from a “sell” rating to a “hold” rating in a research note on Thursday, March 1st. Robert W. Baird restated a “buy” rating and set a $22.00 price objective on shares of Energy Transfer Equity in a research note on Tuesday, February 27th. Royal Bank of Canada restated a “buy” rating and set a $22.00 price objective on shares of Energy Transfer Equity in a research note on Tuesday, January 16th. Bank of America assumed coverage on shares of Energy Transfer Equity in a research note on Tuesday, January 9th. They set a “neutral” rating for the company. Finally, Credit Suisse Group assumed coverage on shares of Energy Transfer Equity in a research note on Thursday, January 4th. They set an “outperform” rating and a $23.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eleven have issued a buy rating to the stock. Energy Transfer Equity presently has an average rating of “Buy” and a consensus target price of $21.50.
Energy Transfer Equity (NYSE:ETE) last announced its quarterly earnings results on Wednesday, February 21st. The pipeline company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.09. Energy Transfer Equity had a net margin of 2.30% and a return on equity of 4.48%. The firm had revenue of $11.45 billion during the quarter, compared to analyst estimates of $12.20 billion. research analysts anticipate that Energy Transfer Equity LP will post 1.64 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, February 20th. Stockholders of record on Thursday, February 8th were paid a $0.305 dividend. The ex-dividend date of this dividend was Wednesday, February 7th. This is a positive change from Energy Transfer Equity’s previous quarterly dividend of $0.30. This represents a $1.22 dividend on an annualized basis and a dividend yield of 7.85%. Energy Transfer Equity’s payout ratio is currently -171.83%.
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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.
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