The Advisory Services Network LLC decides to keep it stake in Energy Transfer Equity L.P. (ETE) to the level of $114,000

The Advisory Services Network LLC decides to keep it stake in Energy Transfer Equity L.P. (ETE) to the level of $114,000

Advisory Services Network LLC reduced its stake in shares of Energy Transfer Equity L.P. (NYSE:ETE) by 8.7% during the second quarter, Holdings Channel reports. The institutional investor owned 7,966 shares of the company’s stock after selling 762 shares during the period. Advisory Services Network LLC’s holdings in Energy Transfer Equity L.P. were worth $114,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of ETE. TNB Financial purchased a new position in Energy Transfer Equity L.P. during the second quarter valued at $148,000. Gilman Hill Asset Management LLC purchased a new position in Energy Transfer Equity L.P. during the second quarter valued at $154,000. Murphy Capital Management Inc. boosted its position in Energy Transfer Equity L.P. by 5.4% in the second quarter. Murphy Capital Management Inc. now owns 15,700 shares of the company’s stock valued at $225,000 after buying an additional 800 shares during the last quarter. Trust Co. of Vermont boosted its position in Energy Transfer Equity L.P. by 2.3% in the second quarter. Trust Co. of Vermont now owns 17,800 shares of the company’s stock valued at $256,000 after buying an additional 400 shares during the last quarter. Finally, Sigma Planning Corp boosted its position in Energy Transfer Equity L.P. by 6.1% in the second quarter. Sigma Planning Corp now owns 19,564 shares of the company’s stock valued at $281,000 after buying an additional 1,123 shares during the last quarter. 44.11% of the stock is currently owned by institutional investors.

Energy Transfer Equity L.P. (NYSE:ETE) traded down 1.8779% on Wednesday, reaching $15.6701. 4,673,509 shares of the company’s stock were exchanged. The firm has a market cap of $16.44 billion, a PE ratio of 14.3106 and a beta of 1.61. The firm’s 50-day moving average is $17.18 and its 200-day moving average is $14.28. Energy Transfer Equity L.P. has a 12 month low of $4.00 and a 12 month high of $23.71.

Energy Transfer Equity L.P. (NYSE:ETE) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by $0.06. Energy Transfer Equity L.P. had a return on equity of 6.46% and a net margin of 3.09%. The company had revenue of $9.34 billion for the quarter, compared to analyst estimates of $8.09 billion. During the same quarter in the previous year, the business earned $0.28 earnings per share. The company’s revenue was down 19.4% on a year-over-year basis. On average, equities analysts forecast that Energy Transfer Equity L.P. will post $0.99 earnings per share for the current year.

Several equities analysts have weighed in on the stock. Jefferies Group reiterated a “buy” rating on shares of Energy Transfer Equity L.P. in a research report on Monday, June 27th. Zacks Investment Research cut shares of Energy Transfer Equity L.P. from a “buy” rating to a “hold” rating in a research report on Tuesday, July 26th. Stephens assumed coverage on shares of Energy Transfer Equity L.P. in a research report on Thursday, September 29th. They set an “equal weight” rating and a $20.00 price objective on the stock. Mizuho assumed coverage on shares of Energy Transfer Equity L.P. in a research report on Thursday, September 29th. They set a “buy” rating and a $20.00 price objective on the stock. Finally, Deutsche Bank AG assumed coverage on shares of Energy Transfer Equity L.P. in a research report on Thursday, July 7th. They set a “buy” rating and a $20.00 price objective on the stock. Nine equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $18.70.

Energy Transfer Equity L.P. Company Profile

Energy Transfer Equity, L.P. (ETE) directly and indirectly owns equity interests in Energy Transfer Partners, L.P. (ETP) and SUN LP, which are engaged in diversified energy-related services. The Company, through its family of companies, owns and operates over 71,000 miles of natural gas, natural gas liquids (NGL), refined products and crude oil pipelines.

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