Energy Transfer Equity, L.P. (ETE) Cut to Sell at Zacks Investment Research

Zacks Investment Research cut shares of Energy Transfer Equity, L.P. (NYSE:ETE) from a hold rating to a sell rating in a research report released on Tuesday, October 17th.

According to Zacks, “Energy Transfer Equity, L.P. owns a diversified portfolio of energy assets, including natural gas operations consisting miles of natural gas gathering and transportation pipelines, natural gas treating and processing assets located in Texas and Louisiana, and three natural gas storage facilities located in Texas. “

A number of other brokerages also recently commented on ETE. Stifel Nicolaus reiterated a buy rating and issued a $20.00 price objective on shares of Energy Transfer Equity, L.P. in a research report on Thursday, October 12th. BMO Capital Markets set a $19.00 price objective on Energy Transfer Equity, L.P. and gave the stock a hold rating in a research report on Thursday, October 12th. BidaskClub raised Energy Transfer Equity, L.P. from a sell rating to a hold rating in a report on Monday, July 3rd. Royal Bank Of Canada reissued a buy rating and issued a $22.00 target price on shares of Energy Transfer Equity, L.P. in a report on Wednesday, September 6th. Finally, Jefferies Group LLC dropped their target price on Energy Transfer Equity, L.P. from $21.00 to $20.00 and set a buy rating for the company in a report on Sunday, September 10th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus target price of $21.63.

Shares of Energy Transfer Equity, L.P. (NYSE ETE) traded up $0.11 during mid-day trading on Tuesday, hitting $17.90. The company’s stock had a trading volume of 1,736,437 shares, compared to its average volume of 5,309,446. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.33 and a quick ratio of 1.09. Energy Transfer Equity, L.P. has a 52 week low of $13.77 and a 52 week high of $20.05. The company has a market cap of $19,198.70, a P/E ratio of 21.96 and a beta of 1.90.

Energy Transfer Equity, L.P. (NYSE:ETE) last announced its quarterly earnings data on Tuesday, August 8th. The pipeline company reported $0.18 EPS for the quarter, missing the Zacks’ consensus estimate of $0.25 by ($0.07). Energy Transfer Equity, L.P. had a return on equity of 3.79% and a net margin of 2.18%. The firm had revenue of $8.94 billion during the quarter, compared to the consensus estimate of $11.41 billion. During the same quarter in the prior year, the business posted $0.23 EPS. Energy Transfer Equity, L.P.’s revenue was up 20.5% compared to the same quarter last year. equities analysts expect that Energy Transfer Equity, L.P. will post 1.24 EPS for the current year.

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The firm also recently declared a quarterly dividend, which will be paid on Monday, November 20th. Investors of record on Tuesday, November 7th will be issued a dividend of $0.295 per share. This represents a $1.18 dividend on an annualized basis and a yield of 6.59%. This is a boost from Energy Transfer Equity, L.P.’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Monday, November 6th. Energy Transfer Equity, L.P.’s dividend payout ratio (DPR) is currently 144.31%.

Hedge funds have recently added to or reduced their stakes in the stock. Penserra Capital Management LLC acquired a new stake in Energy Transfer Equity, L.P. during the 2nd quarter valued at $106,000. Ffcm LLC increased its holdings in Energy Transfer Equity, L.P. by 226.7% during the 2nd quarter. Ffcm LLC now owns 6,273 shares of the pipeline company’s stock valued at $114,000 after purchasing an additional 4,353 shares in the last quarter. AllSquare Wealth Management LLC acquired a new stake in Energy Transfer Equity, L.P. during the 3rd quarter valued at $139,000. Sei Investments Co. increased its holdings in Energy Transfer Equity, L.P. by 6.1% during the 2nd quarter. Sei Investments Co. now owns 8,700 shares of the pipeline company’s stock valued at $156,000 after purchasing an additional 500 shares in the last quarter. Finally, Advisory Services Network LLC increased its holdings in Energy Transfer Equity, L.P. by 12.6% during the 2nd quarter. Advisory Services Network LLC now owns 9,331 shares of the pipeline company’s stock valued at $168,000 after purchasing an additional 1,047 shares in the last quarter. 48.50% of the stock is owned by hedge funds and other institutional investors.

Energy Transfer Equity, L.P. 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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Analyst Recommendations for Energy Transfer Equity, L.P. (NYSE:ETE)

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