Kayne Anderson Capital Advisors LP lifted its position in shares of Energy Transfer Equity LP (NYSE:ETE) by 13.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,105,148 shares of the pipeline company’s stock after buying an additional 590,600 shares during the period. Energy Transfer Equity makes up approximately 1.1% of Kayne Anderson Capital Advisors LP’s portfolio, making the stock its 25th largest position. Kayne Anderson Capital Advisors LP owned about 0.47% of Energy Transfer Equity worth $88,714,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Catalyst Capital Advisors LLC lifted its position in shares of Energy Transfer Equity by 20.4% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 435,168 shares of the pipeline company’s stock worth $7,563,000 after purchasing an additional 73,798 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its position in Energy Transfer Equity by 0.8% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 905,000 shares of the pipeline company’s stock valued at $15,729,000 after acquiring an additional 7,000 shares during the last quarter. Comerica Bank lifted its position in Energy Transfer Equity by 0.4% in the third quarter. Comerica Bank now owns 896,689 shares of the pipeline company’s stock valued at $15,862,000 after acquiring an additional 3,844 shares during the last quarter. NTV Asset Management LLC purchased a new stake in Energy Transfer Equity in the third quarter valued at $209,000. Finally, AllSquare Wealth Management LLC purchased a new stake in Energy Transfer Equity in the third quarter valued at $139,000. Hedge funds and other institutional investors own 51.53% of the company’s stock.
A number of research firms have commented on ETE. Royal Bank Of Canada restated a “buy” rating and issued a $22.00 price objective on shares of Energy Transfer Equity in a research note on Wednesday, September 6th. BMO Capital Markets set a $19.00 price objective on shares of Energy Transfer Equity and gave the company a “hold” rating in a research note on Friday, August 18th. Sanford C. Bernstein reiterated an “outperform” rating on shares of Energy Transfer Equity in a research note on Thursday, August 10th. Morgan Stanley upgraded shares of Energy Transfer Equity to a “buy” rating in a research note on Wednesday, August 30th. Finally, BidaskClub lowered shares of Energy Transfer Equity from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 19th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $21.78.
Shares of Energy Transfer Equity LP (NYSE:ETE) remained flat at $$16.27 on Thursday. 2,833,221 shares of the company traded hands, compared to its average volume of 5,283,200. Energy Transfer Equity LP has a 12-month low of $15.03 and a 12-month high of $20.05. The company has a quick ratio of 1.11, a current ratio of 1.36 and a debt-to-equity ratio of 1.69. The firm has a market cap of $17,903.68, a PE ratio of 19.75 and a beta of 1.86.
Energy Transfer Equity (NYSE:ETE) last issued its quarterly earnings results on Tuesday, November 7th. The pipeline company reported $0.22 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.12). Energy Transfer Equity had a return on equity of 3.84% and a net margin of 2.29%. The company had revenue of $9.47 billion for the quarter, compared to analyst estimates of $16.25 billion. During the same period last year, the company posted $0.19 EPS. The business’s revenue for the quarter was up 23.0% on a year-over-year basis. analysts forecast that Energy Transfer Equity LP will post 0.99 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, November 20th. Investors of record on Tuesday, November 7th were issued a dividend of $0.295 per share. This represents a $1.18 dividend on an annualized basis and a yield of 7.25%. This is a positive change from Energy Transfer Equity’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Monday, November 6th. Energy Transfer Equity’s dividend payout ratio (DPR) is presently 143.90%.
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About Energy Transfer Equity
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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