Clearbridge Investments LLC lifted its holdings in shares of Energy Transfer Equity LP (NYSE:ETE) by 1,483.1% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 186,800 shares of the pipeline company’s stock after acquiring an additional 175,000 shares during the period. Clearbridge Investments LLC’s holdings in Energy Transfer Equity were worth $3,224,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of ETE. SeaCrest Wealth Management LLC purchased a new stake in shares of Energy Transfer Equity during the fourth quarter worth about $115,000. Hall Laurie J Trustee grew its stake in shares of Energy Transfer Equity by 9,600.0% during the fourth quarter. Hall Laurie J Trustee now owns 9,700 shares of the pipeline company’s stock worth $168,000 after acquiring an additional 9,600 shares during the last quarter. Claraphi Advisory Network LLC purchased a new stake in shares of Energy Transfer Equity during the fourth quarter worth about $173,000. Brown Advisory Securities LLC purchased a new stake in shares of Energy Transfer Equity during the fourth quarter worth about $179,000. Finally, Gofen & Glossberg LLC IL purchased a new stake in shares of Energy Transfer Equity during the third quarter worth about $180,000. Institutional investors and hedge funds own 49.12% of the company’s stock.
A number of brokerages recently commented on ETE. Royal Bank of Canada reiterated a “buy” rating and issued a $22.00 target price on shares of Energy Transfer Equity in a research report on Tuesday, January 16th. Robert W. Baird reiterated a “buy” rating and issued a $22.00 target price on shares of Energy Transfer Equity in a research report on Tuesday, February 27th. Zacks Investment Research upgraded Energy Transfer Equity from a “sell” rating to a “hold” rating in a research report on Thursday, March 1st. Bank of America began coverage on Energy Transfer Equity in a research report on Tuesday, January 9th. They issued a “neutral” rating on the stock. Finally, Credit Suisse Group began coverage on Energy Transfer Equity in a research report on Thursday, January 4th. They issued an “outperform” rating and a $23.00 target price on the stock. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have given a buy rating to the company. Energy Transfer Equity currently has a consensus rating of “Buy” and a consensus price target of $21.50.
Energy Transfer Equity LP (NYSE ETE) opened at $14.86 on Friday. Energy Transfer Equity LP has a twelve month low of $12.80 and a twelve month high of $19.82. The stock has a market capitalization of $16,036.11, a P/E ratio of 14.29 and a beta of 1.86. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.35 and a quick ratio of 1.10.
Energy Transfer Equity (NYSE:ETE) last announced its quarterly earnings results on Wednesday, February 21st. The pipeline company reported $0.41 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.09. Energy Transfer Equity had a return on equity of 4.48% and a net margin of 2.30%. The company had revenue of $11.45 billion during the quarter, compared to the consensus estimate of $12.20 billion. equities research analysts predict that Energy Transfer Equity LP will post 1.41 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, February 20th. Shareholders of record on Thursday, February 8th were issued a $0.305 dividend. The ex-dividend date of this dividend was Wednesday, February 7th. This is an increase from Energy Transfer Equity’s previous quarterly dividend of $0.30. This represents a $1.22 dividend on an annualized basis and a yield of 8.21%. Energy Transfer Equity’s payout ratio is presently 146.99%.
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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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