Raymond James Financial Services Advisors Inc. Grows Holdings in Energy Transfer Equity LP (NYSE:ETE)

Raymond James Financial Services Advisors Inc. raised its stake in Energy Transfer Equity LP (NYSE:ETE) by 14.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 269,891 shares of the pipeline company’s stock after buying an additional 33,515 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Energy Transfer Equity were worth $4,691,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Penserra Capital Management LLC bought a new position in shares of Energy Transfer Equity during the second quarter valued at $106,000. Ffcm LLC raised its stake in Energy Transfer Equity by 226.7% during the second quarter. Ffcm LLC now owns 6,273 shares of the pipeline company’s stock worth $114,000 after buying an additional 4,353 shares during the last quarter. Sei Investments Co. raised its stake in Energy Transfer Equity by 6.1% during the second quarter. Sei Investments Co. now owns 8,700 shares of the pipeline company’s stock worth $156,000 after buying an additional 500 shares during the last quarter. Advisory Services Network LLC raised its stake in Energy Transfer Equity by 12.6% during the second quarter. Advisory Services Network LLC now owns 9,331 shares of the pipeline company’s stock worth $168,000 after buying an additional 1,047 shares during the last quarter. Finally, Frontier Wealth Management LLC bought a new position in Energy Transfer Equity during the second quarter worth $185,000. Hedge funds and other institutional investors own 51.53% of the company’s stock.

Shares of Energy Transfer Equity LP (ETE) remained flat at $$16.27 during mid-day trading on Thursday. The stock had a trading volume of 2,833,221 shares, compared to its average volume of 5,283,200. Energy Transfer Equity LP has a one year low of $15.03 and a one year high of $20.05. The company has a quick ratio of 1.11, a current ratio of 1.36 and a debt-to-equity ratio of 1.69. The firm has a market cap of $17,903.68, a P/E ratio of 19.75 and a beta of 1.86.

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

The company also recently announced 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 represents a $1.18 dividend on an annualized basis and a yield of 7.25%. The ex-dividend date was Monday, November 6th. This is a positive change from Energy Transfer Equity’s previous quarterly dividend of $0.29. Energy Transfer Equity’s dividend payout ratio is 143.90%.

A number of equities analysts recently weighed in on the stock. Stifel Nicolaus reissued a “buy” rating and set a $20.00 target price on shares of Energy Transfer Equity in a research note on Thursday, October 12th. BMO Capital Markets set a $19.00 price target on shares of Energy Transfer Equity and gave the stock a “hold” rating in a report on Thursday, October 12th. Royal Bank Of Canada restated a “buy” rating and issued a $22.00 price target on shares of Energy Transfer Equity in a report on Wednesday, September 6th. Jefferies Group reduced their price objective on shares of Energy Transfer Equity from $21.00 to $20.00 and set a “buy” rating for the company in a report on Sunday, September 10th. Finally, Morgan Stanley reiterated an “overweight” rating on shares of Energy Transfer Equity in a report on Tuesday, September 5th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $21.78.

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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.

Institutional Ownership by Quarter for Energy Transfer Equity (NYSE:ETE)

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