Natixis Cuts Stake in Energy Transfer Equity LP Unit (ETE)

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Natixis cut its position in Energy Transfer Equity LP Unit (NYSE:ETE) by 16.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,518,000 shares of the pipeline company’s stock after selling 917,000 shares during the period. Natixis owned approximately 0.39% of Energy Transfer Equity LP Unit worth $77,936,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the company. LVW Advisors LLC increased its holdings in shares of Energy Transfer Equity LP Unit by 9.7% in the second quarter. LVW Advisors LLC now owns 32,950 shares of the pipeline company’s stock valued at $568,000 after purchasing an additional 2,925 shares during the period. Winslow Evans & Crocker Inc. grew its holdings in Energy Transfer Equity LP Unit by 78.9% during the second quarter. Winslow Evans & Crocker Inc. now owns 6,800 shares of the pipeline company’s stock worth $120,000 after acquiring an additional 3,000 shares during the period. Creative Planning grew its holdings in Energy Transfer Equity LP Unit by 3.0% during the second quarter. Creative Planning now owns 119,165 shares of the pipeline company’s stock worth $2,056,000 after acquiring an additional 3,423 shares during the period. US Bancorp DE grew its holdings in Energy Transfer Equity LP Unit by 1.7% during the first quarter. US Bancorp DE now owns 199,412 shares of the pipeline company’s stock worth $2,834,000 after acquiring an additional 3,429 shares during the period. Finally, Fieldpoint Private Securities LLC grew its holdings in Energy Transfer Equity LP Unit by 32.0% during the first quarter. Fieldpoint Private Securities LLC now owns 14,356 shares of the pipeline company’s stock worth $204,000 after acquiring an additional 3,480 shares during the period. 44.41% of the stock is currently owned by institutional investors and hedge funds.

ETE has been the topic of several analyst reports. Zacks Investment Research lowered Energy Transfer Equity LP Unit from a “buy” rating to a “hold” rating in a report on Wednesday, July 25th. Morgan Stanley raised their target price on Energy Transfer Equity LP Unit from $19.00 to $21.00 and gave the stock a “buy” rating in a report on Friday, August 3rd. Stifel Nicolaus reaffirmed a “buy” rating and set a $21.00 target price (up from $19.00) on shares of Energy Transfer Equity LP Unit in a report on Friday, August 10th. Stephens raised Energy Transfer Equity LP Unit from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $20.00 to $23.00 in a report on Thursday, August 2nd. Finally, Bank of America raised Energy Transfer Equity LP Unit from a “neutral” rating to a “buy” rating and set a $17.00 target price on the stock in a report on Thursday, May 17th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $20.69.

ETE stock traded down $0.14 during mid-day trading on Friday, reaching $17.37. 15,957 shares of the company’s stock were exchanged, compared to its average volume of 5,247,245. The company has a market capitalization of $20.62 billion, a P/E ratio of 14.40 and a beta of 1.90. The company has a current ratio of 0.99, a quick ratio of 0.76 and a debt-to-equity ratio of 1.46. Energy Transfer Equity LP Unit has a 12-month low of $12.80 and a 12-month high of $19.34.

Energy Transfer Equity LP Unit (NYSE:ETE) last issued its quarterly earnings results on Wednesday, August 8th. The pipeline company reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.15). The business had revenue of $14.12 billion for the quarter, compared to analysts’ expectations of $12.63 billion. Energy Transfer Equity LP Unit had a return on equity of 5.50% and a net margin of 2.60%. The business’s revenue for the quarter was up 49.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.18 EPS. research analysts predict that Energy Transfer Equity LP Unit will post 2.08 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Monday, August 20th. Shareholders of record on Monday, August 6th were given a dividend of $0.305 per share. The ex-dividend date was Friday, August 3rd. This represents a $1.22 dividend on an annualized basis and a yield of 7.02%. Energy Transfer Equity LP Unit’s dividend payout ratio is currently 100.83%.

Energy Transfer Equity LP Unit Company Profile

Energy Transfer Equity, L.P. provides diversified energy-related services in the United States. It owns and operates approximately 7,900 miles of natural gas transportation pipelines and three natural gas storage facilities in Texas; and approximately 11,800 miles of interstate natural gas pipelines.

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Institutional Ownership by Quarter for Energy Transfer Equity LP Unit (NYSE:ETE)

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