Today, Energy Transfer Equity L.P. (ETE) Position Increased by Homrich & Berg

Today, Energy Transfer Equity L.P. (ETE) Position Increased by Homrich & Berg

Homrich & Berg raised its stake in shares of Energy Transfer Equity L.P. (NYSE:ETE) by 9.8% during the third quarter, Holdings Channel reports. The institutional investor owned 15,750 shares of the company’s stock after buying an additional 1,400 shares during the period. Homrich & Berg’s holdings in Energy Transfer Equity L.P. were worth $264,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of ETE. Northwestern Mutual Wealth Management Co. increased its stake in shares of Energy Transfer Equity L.P. by 55.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 7,588 shares of the company’s stock valued at $109,000 after buying an additional 2,696 shares in the last quarter. Advisory Services Network LLC increased its position in Energy Transfer Equity L.P. by 3.2% in the third quarter. Advisory Services Network LLC now owns 8,220 shares of the company’s stock worth $138,000 after buying an additional 254 shares during the period. Feltz Wealth PLAN Inc. purchased a new position in Energy Transfer Equity L.P. during the second quarter worth about $141,000. BB&T Corp purchased a new position in Energy Transfer Equity L.P. during the second quarter worth about $144,000. Finally, Integrated Wealth Management increased its position in Energy Transfer Equity L.P. by 6.7% in the second quarter. Integrated Wealth Management now owns 10,172 shares of the company’s stock worth $146,000 after buying an additional 643 shares during the period. Institutional investors and hedge funds own 45.76% of the company’s stock.

Energy Transfer Equity L.P. (NYSE:ETE) traded down 2.51% during midday trading on Friday, reaching $17.12. The company’s stock had a trading volume of 866,277 shares. The stock has a market cap of $17.90 billion, a price-to-earnings ratio of 17.00 and a beta of 1.81. Energy Transfer Equity L.P. has a one year low of $4.00 and a one year high of $19.99. The stock’s 50 day moving average price is $15.99 and its 200-day moving average price is $15.63.

Energy Transfer Equity L.P. (NYSE:ETE) last released its earnings results on Wednesday, November 9th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by $0.04. Energy Transfer Equity L.P. had a net margin of 2.94% and a return on equity of 6.10%. The firm earned $9.68 billion during the quarter, compared to analyst estimates of $8.53 billion. During the same period in the previous year, the company earned $0.28 earnings per share. Energy Transfer Equity L.P.’s revenue was down 8.8% on a year-over-year basis. On average, analysts forecast that Energy Transfer Equity L.P. will post $0.99 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, November 18th. Investors of record on Monday, November 7th were given a $0.285 dividend. This represents a $1.14 annualized dividend and a dividend yield of 6.49%. The ex-dividend date was Thursday, November 3rd. Energy Transfer Equity L.P.’s payout ratio is 111.77%.

A number of research firms have recently issued reports on ETE. JPMorgan Chase & Co. restated an “overweight” rating and issued a $21.00 price target on shares of Energy Transfer Equity L.P. in a research note on Friday, September 2nd. Wolfe Research began coverage on Energy Transfer Equity L.P. in a research note on Friday, October 7th. They issued a “hold” rating and a $17.00 price target on the stock. Mizuho began coverage on Energy Transfer Equity L.P. in a research note on Thursday, September 29th. They issued a “buy” rating and a $20.00 price target on the stock. Jefferies Group restated a “buy” rating and issued a $20.00 price target on shares of Energy Transfer Equity L.P. in a research note on Thursday, August 4th. Finally, Zacks Investment Research upgraded Energy Transfer Equity L.P. from a “sell” rating to a “hold” rating in a research note on Tuesday, October 11th. Seven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Energy Transfer Equity L.P. currently has a consensus rating of “Buy” and a consensus target price of $18.15.

About Energy Transfer Equity L.P.

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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