Energy Transfer Equity, L.P. (NYSE:ETE) Upgraded by BidaskClub to “Sell”

BidaskClub upgraded shares of Energy Transfer Equity, L.P. (NYSE:ETE) from a strong sell rating to a sell rating in a research note published on Tuesday, June 27th.

ETE has been the topic of a number of other reports. Zacks Investment Research raised shares of Energy Transfer Equity, L.P. from a hold rating to a strong-buy rating and set a $21.00 target price on the stock in a research report on Tuesday, March 14th. Royal Bank Of Canada reissued a buy rating and set a $22.00 price objective on shares of Energy Transfer Equity, L.P. in a research report on Friday, March 17th. Sanford C. Bernstein raised shares of Energy Transfer Equity, L.P. from a market perform rating to an outperform rating and raised their price objective for the stock from $19.00 to $23.00 in a research report on Wednesday, May 10th. ValuEngine downgraded shares of Energy Transfer Equity, L.P. from a buy rating to a hold rating in a research report on Friday, June 2nd. Finally, Jefferies Group LLC raised shares of Energy Transfer Equity, L.P. from a hold rating to a buy rating and set a $21.00 price objective on the stock in a research report on Wednesday, April 19th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Energy Transfer Equity, L.P. presently has an average rating of Buy and a consensus target price of $20.72.

Energy Transfer Equity, L.P. (NYSE ETE) traded down 0.45% during midday trading on Tuesday, hitting $17.85. 2,253,640 shares of the stock traded hands. The stock has a market cap of $19.26 billion, a price-to-earnings ratio of 21.43 and a beta of 1.91. Energy Transfer Equity, L.P. has a one year low of $13.77 and a one year high of $20.05. The company has a 50-day moving average price of $17.14 and a 200 day moving average price of $18.22.

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The company also recently announced a quarterly dividend, which will be paid on Monday, August 21st. Stockholders of record on Monday, August 7th will be paid a $0.285 dividend. This represents a $1.14 annualized dividend and a dividend yield of 6.39%. The ex-dividend date of this dividend is Thursday, August 3rd. Energy Transfer Equity, L.P.’s dividend payout ratio (DPR) is presently 135.71%.

Hedge funds have recently added to or reduced their stakes in the company. Nwam LLC purchased a new stake in Energy Transfer Equity, L.P. during the second quarter valued at approximately $255,000. Heritage Wealth Advisors boosted its stake in Energy Transfer Equity, L.P. by 1.5% in the second quarter. Heritage Wealth Advisors now owns 98,943 shares of the pipeline company’s stock valued at $1,781,000 after buying an additional 1,446 shares during the period. Eagle Global Advisors LLC boosted its stake in Energy Transfer Equity, L.P. by 0.5% in the second quarter. Eagle Global Advisors LLC now owns 9,655,068 shares of the pipeline company’s stock valued at $173,405,000 after buying an additional 49,112 shares during the period. Chickasaw Capital Management LLC boosted its stake in Energy Transfer Equity, L.P. by 0.4% in the second quarter. Chickasaw Capital Management LLC now owns 22,428,755 shares of the pipeline company’s stock valued at $402,820,000 after buying an additional 96,717 shares during the period. Finally, Parkwood LLC boosted its stake in Energy Transfer Equity, L.P. by 5.9% in the second quarter. Parkwood LLC now owns 95,381 shares of the pipeline company’s stock valued at $1,713,000 after buying an additional 5,302 shares during the period. Institutional investors own 51.31% of the company’s stock.

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.

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

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