Energy Transfer Equity, L.P. (ETE) Shares Up 5.7% After Dividend Announcement

Energy Transfer Equity, L.P. (NYSE:ETE) shot up 5.7% on Friday after the company announced a dividend. The stock traded as high as $17.77 and last traded at $17.67. 7,623,728 shares traded hands during mid-day trading, an increase of 70% from the average session volume of 4,491,620 shares. The stock had previously closed at $16.72.

The newly announced dividend which will be paid on Monday, November 20th. Shareholders of record on Tuesday, November 7th will be issued a dividend of $0.295 per share. This is a boost from Energy Transfer Equity, L.P.’s previous quarterly dividend of $0.29. This represents a $1.18 dividend on an annualized basis and a dividend yield of 6.68%. Energy Transfer Equity, L.P.’s dividend payout ratio (DPR) is presently 144.31%.

A number of brokerages have issued reports on ETE. Robert W. Baird reissued a “buy” rating and set a $24.00 price objective on shares of Energy Transfer Equity, L.P. in a report on Friday. Zacks Investment Research raised Energy Transfer Equity, L.P. from a “sell” rating to a “hold” rating in a report on Tuesday. Mizuho reissued a “buy” rating and set a $21.00 price objective on shares of Energy Transfer Equity, L.P. in a report on Friday, October 20th. Goldman Sachs Group, Inc. (The) raised Energy Transfer Equity, L.P. from a “neutral” rating to a “buy” rating and set a $23.00 price objective for the company in a report on Tuesday, October 17th. Finally, Jefferies Group LLC reissued a “buy” rating and set a $20.00 price objective on shares of Energy Transfer Equity, L.P. in a report on Monday, October 16th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. Energy Transfer Equity, L.P. has an average rating of “Buy” and a consensus price target of $21.63.

The stock’s 50-day moving average price is $17.57 and its 200-day moving average price is $17.57. The firm has a market capitalization of $19.07 billion, a price-to-earnings ratio of 22.28 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 earnings per share for the quarter, missing the 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 business had revenue of $8.94 billion for the quarter, compared to the consensus estimate of $11.41 billion. During the same quarter in the prior year, the company earned $0.23 earnings per share. Energy Transfer Equity, L.P.’s quarterly revenue was up 20.5% compared to the same quarter last year. Equities analysts predict that Energy Transfer Equity, L.P. will post $1.31 EPS for the current fiscal year.

Hedge funds have recently made changes to their positions in the stock. Penserra Capital Management LLC bought a new stake in shares of Energy Transfer Equity, L.P. during the 2nd quarter worth $106,000. Ffcm LLC raised its position in Energy Transfer Equity, L.P. by 226.7% in the second 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 during the last quarter. Sei Investments Co. raised its position in Energy Transfer Equity, L.P. by 6.1% in the second 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 during the last quarter. Advisory Services Network LLC raised its position in Energy Transfer Equity, L.P. by 12.6% in the second 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 during the last quarter. Finally, Frontier Wealth Management LLC bought a new position in Energy Transfer Equity, L.P. in the second quarter valued at about $185,000. Institutional investors and hedge funds own 48.48% of the company’s stock.

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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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