Energy Transfer Equity LP Unit (ETE) Holdings Trimmed by Gamco Investors INC. ET AL

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Gamco Investors INC. ET AL lessened its holdings in shares of Energy Transfer Equity LP Unit (NYSE:ETE) by 7.4% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 37,800 shares of the pipeline company’s stock after selling 3,000 shares during the quarter. Gamco Investors INC. ET AL’s holdings in Energy Transfer Equity LP Unit were worth $652,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of ETE. Lee Financial Co grew its stake in Energy Transfer Equity LP Unit by 357.0% during the 1st quarter. Lee Financial Co now owns 7,623 shares of the pipeline company’s stock valued at $109,000 after purchasing an additional 5,955 shares in the last quarter. Winslow Evans & Crocker Inc. grew its stake in Energy Transfer Equity LP Unit by 78.9% during the 2nd quarter. Winslow Evans & Crocker Inc. now owns 6,800 shares of the pipeline company’s stock valued at $120,000 after purchasing an additional 3,000 shares in the last quarter. Sfmg LLC acquired a new stake in Energy Transfer Equity LP Unit during the 1st quarter valued at approximately $142,000. Wealth Alliance Advisory Group LLC acquired a new stake in Energy Transfer Equity LP Unit during the 1st quarter valued at approximately $156,000. Finally, Jump Trading LLC acquired a new position in shares of Energy Transfer Equity LP Unit in the 1st quarter worth approximately $158,000. Hedge funds and other institutional investors own 44.41% of the company’s stock.

In related news, Director Richard D. Brannon acquired 25,000 shares of Energy Transfer Equity LP Unit stock in a transaction that occurred on Thursday, September 6th. The stock was acquired at an average price of $17.53 per share, for a total transaction of $438,250.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 3.28% of the company’s stock.

Several research analysts have recently commented on ETE shares. Zacks Investment Research lowered Energy Transfer Equity LP Unit from a “buy” rating to a “hold” rating in a research report on Wednesday, May 16th. Bank of America upgraded Energy Transfer Equity LP Unit from a “neutral” rating to a “buy” rating and set a $17.00 target price for the company in a research report on Thursday, May 17th. ValuEngine upgraded Energy Transfer Equity LP Unit from a “sell” rating to a “hold” rating in a research report on Friday, June 15th. US Capital Advisors reiterated a “hold” rating on shares of Energy Transfer Equity LP Unit in a research report on Tuesday, July 17th. Finally, Stephens upgraded Energy Transfer Equity LP Unit from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $20.00 to $23.00 in a research report on Thursday, August 2nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $20.69.

Shares of ETE opened at $17.36 on Friday. The company has a market capitalization of $20.28 billion, a PE ratio of 12.69 and a beta of 1.90. The company has a quick ratio of 0.76, a current ratio of 0.99 and a debt-to-equity ratio of 1.46. Energy Transfer Equity LP Unit has a 52 week low of $12.80 and a 52 week high of $19.34.

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

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 20th. Investors of record on Monday, August 6th were given a dividend of $0.305 per share. The ex-dividend date of this dividend was Friday, August 3rd. This represents a $1.22 dividend on an annualized basis and a yield of 7.03%. 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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