Zimmer Partners LP cut its holdings in Energy Transfer Equity (NYSE:ETE) by 80.1% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 706,326 shares of the pipeline company’s stock after selling 2,835,169 shares during the quarter. Zimmer Partners LP owned approximately 0.07% of Energy Transfer Equity worth $12,191,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in the stock. Harvest Fund Advisors LLC boosted its stake in Energy Transfer Equity by 9.4% in the third quarter. Harvest Fund Advisors LLC now owns 45,684,871 shares of the pipeline company’s stock valued at $794,003,000 after buying an additional 3,914,284 shares in the last quarter. Chickasaw Capital Management LLC boosted its stake in Energy Transfer Equity by 1.9% in the fourth quarter. Chickasaw Capital Management LLC now owns 22,407,074 shares of the pipeline company’s stock valued at $386,746,000 after buying an additional 410,501 shares in the last quarter. Atlantic Trust Group LLC boosted its stake in Energy Transfer Equity by 8.7% in the third quarter. Atlantic Trust Group LLC now owns 13,290,034 shares of the pipeline company’s stock valued at $230,980,000 after buying an additional 1,060,430 shares in the last quarter. ING Groep NV acquired a new stake in Energy Transfer Equity in the third quarter valued at about $189,859,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in Energy Transfer Equity by 4.1% in the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 10,597,720 shares of the pipeline company’s stock valued at $184,188,000 after buying an additional 416,462 shares in the last quarter. 49.04% of the stock is currently owned by institutional investors and hedge funds.
Shares of ETE opened at $14.19 on Friday. Energy Transfer Equity has a 1 year low of $12.80 and a 1 year high of $19.55. The company has a quick ratio of 1.10, a current ratio of 1.35 and a debt-to-equity ratio of 1.48. The stock has a market cap of $15,399.41, a PE ratio of 11.73 and a beta of 1.87.
Energy Transfer Equity (NYSE:ETE) last issued its quarterly earnings data on Wednesday, February 21st. The pipeline company reported $0.41 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.09. Energy Transfer Equity had a return on equity of 4.48% and a net margin of 2.30%. The company had revenue of $11.45 billion during the quarter, compared to the consensus estimate of $12.20 billion. research analysts anticipate that Energy Transfer Equity will post 1.35 EPS for the current fiscal year.
A number of analysts have recently commented on the company. Zacks Investment Research lowered Energy Transfer Equity from a “hold” rating to a “sell” rating in a research note on Tuesday, February 20th. Wolfe Research raised Energy Transfer Equity from a “market perform” rating to an “outperform” rating in a research note on Monday, December 18th. Royal Bank of Canada reissued a “buy” rating and set a $22.00 price target on shares of Energy Transfer Equity in a research note on Tuesday, January 16th. Credit Suisse Group assumed coverage on Energy Transfer Equity in a research note on Thursday, January 4th. They set an “outperform” rating and a $23.00 price target on the stock. Finally, Bank of America cut their price target on Energy Transfer Equity from $19.00 to $17.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 27th. Two analysts have rated the stock with a sell rating, four have given a hold rating and eleven have given a buy rating to the company. Energy Transfer Equity presently has an average rating of “Buy” and an average price target of $20.82.
ILLEGAL ACTIVITY WARNING: This news story was originally published by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are reading this news story on another domain, it was copied illegally and reposted in violation of U.S. & international copyright & trademark legislation. The legal version of this news story can be read at https://www.dispatchtribunal.com/2018/04/07/energy-transfer-equity-lp-ete-shares-sold-by-zimmer-partners-lp.html.
Energy Transfer Equity 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.
Receive News & Ratings for Energy Transfer Equity Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Energy Transfer Equity and related companies with MarketBeat.com's FREE daily email newsletter.