Energy Transfer Equity, L.P. (NYSE:ETE) Stake Cut by Solaris Asset Management LLC

Solaris Asset Management LLC cut its position in Energy Transfer Equity, L.P. (NYSE:ETE) by 6.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,775 shares of the pipeline company’s stock after selling 1,475 shares during the period. Solaris Asset Management LLC’s holdings in Energy Transfer Equity, L.P. were worth $355,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Chevy Chase Trust Holdings Inc. increased its position in Energy Transfer Equity, L.P. by 0.3% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 64,499 shares of the pipeline company’s stock worth $1,273,000 after buying an additional 183 shares during the period. Raymond James Trust N.A. increased its position in Energy Transfer Equity, L.P. by 28.7% in the first quarter. Raymond James Trust N.A. now owns 18,960 shares of the pipeline company’s stock worth $374,000 after buying an additional 4,228 shares during the period. Creative Planning increased its position in Energy Transfer Equity, L.P. by 17.5% in the first quarter. Creative Planning now owns 120,479 shares of the pipeline company’s stock worth $2,377,000 after buying an additional 17,950 shares during the period. TNB Financial purchased a new position in Energy Transfer Equity, L.P. during the first quarter worth about $203,000. Finally, Private Trust Co. NA increased its position in Energy Transfer Equity, L.P. by 4.6% in the first quarter. Private Trust Co. NA now owns 11,555 shares of the pipeline company’s stock worth $227,000 after buying an additional 510 shares during the period. Institutional investors and hedge funds own 50.27% of the company’s stock.

Energy Transfer Equity, L.P. (ETE) traded down 0.48% during midday trading on Friday, hitting $16.67. The company had a trading volume of 2,904,452 shares. The stock has a 50 day moving average price of $17.62 and a 200-day moving average price of $18.08. The stock has a market capitalization of $17.99 billion, a PE ratio of 21.02 and a beta of 1.90. Energy Transfer Equity, L.P. has a 52 week low of $13.77 and a 52 week high of $20.05.

Energy Transfer Equity, L.P. (NYSE:ETE) last issued its earnings results on Tuesday, August 8th. The pipeline company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $8.94 billion during the quarter, compared to analysts’ expectations of $11.41 billion. During the same quarter in the previous year, the company earned $0.23 EPS. The firm’s quarterly revenue was up 20.5% compared to the same quarter last year. On average, equities analysts predict that Energy Transfer Equity, L.P. will post $1.18 EPS for the current year.

The business 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. The ex-dividend date is Thursday, August 3rd. This represents a $1.14 dividend on an annualized basis and a dividend yield of 6.84%. Energy Transfer Equity, L.P.’s payout ratio is 144.31%.

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A number of equities research analysts have recently commented on ETE shares. Zacks Investment Research cut Energy Transfer Equity, L.P. from a “hold” rating to a “strong sell” rating in a research note on Wednesday, April 26th. Sanford C. Bernstein raised Energy Transfer Equity, L.P. from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $19.00 to $23.00 in a research note on Wednesday, May 10th. Wolfe Research reissued a “market perform” rating on shares of Energy Transfer Equity, L.P. in a research note on Friday, May 12th. 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 research note on Tuesday, May 23rd. Finally, ValuEngine cut Energy Transfer Equity, L.P. from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $20.77.

About Energy Transfer Equity, L.P.

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.

Institutional Ownership by Quarter for Energy Transfer Equity, L.P. (NYSE:ETE)

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