Investors Buy Shares of Energy Transfer Equity (ETE) on Weakness

Traders purchased shares of Energy Transfer Equity LP (NYSE:ETE) on weakness during trading hours on Monday. $38.42 million flowed into the stock on the tick-up and $10.85 million flowed out of the stock on the tick-down, for a money net flow of $27.57 million into the stock. Of all equities tracked, Energy Transfer Equity had the 24th highest net in-flow for the day. Energy Transfer Equity traded down ($0.04) for the day and closed at $16.03

ETE has been the topic of several recent research reports. Mizuho restated a “buy” rating and set a $21.00 price target on shares of Energy Transfer Equity in a report on Friday, October 20th. Zacks Investment Research downgraded Energy Transfer Equity from a “hold” rating to a “sell” rating in a research report on Tuesday, October 17th. Morgan Stanley reaffirmed an “overweight” rating on shares of Energy Transfer Equity in a research report on Tuesday, September 5th. Robert W. Baird reaffirmed a “buy” rating and issued a $24.00 price objective on shares of Energy Transfer Equity in a research report on Friday, October 27th. Finally, Goldman Sachs Group raised Energy Transfer Equity from a “neutral” rating to a “buy” rating and set a $23.00 price objective on the stock in a research report on Tuesday, October 17th. 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 presently has an average rating of “Buy” and a consensus price target of $21.78.

The firm has a market cap of $17,480.00, a PE ratio of 19.13 and a beta of 1.87. 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 announced its quarterly earnings data on Tuesday, November 7th. The pipeline company reported $0.22 EPS for the quarter, missing the Thomson Reuters’ 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 company earned $0.19 EPS. The business’s revenue was up 23.0% compared to the same quarter last year. research analysts forecast that Energy Transfer Equity LP will post 0.99 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Monday, November 20th. Stockholders of record on Tuesday, November 7th were given a dividend of $0.295 per share. This is an increase 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 dividend yield of 7.36%. Energy Transfer Equity’s dividend payout ratio is presently 113.46%.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Chicago Partners Investment Group LLC grew its position in shares of Energy Transfer Equity by 124.1% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 609,957 shares of the pipeline company’s stock worth $10,601,000 after buying an additional 337,758 shares in the last quarter. Salem Investment Counselors Inc. grew its position in shares of Energy Transfer Equity by 20.9% during the 3rd quarter. Salem Investment Counselors Inc. now owns 69,500 shares of the pipeline company’s stock worth $1,195,000 after buying an additional 12,000 shares in the last quarter. Gofen & Glossberg LLC IL bought a new position in shares of Energy Transfer Equity during the 3rd quarter worth $180,000. Belpointe Asset Management LLC bought a new position in shares of Energy Transfer Equity during the 3rd quarter worth $184,000. Finally, Fieldpoint Private Securities LLC bought a new position in shares of Energy Transfer Equity during the 3rd quarter worth $238,000. 51.53% of the stock is currently owned by institutional investors and hedge funds.

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About Energy Transfer Equity

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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