Bank of New York Mellon Corp lessened its position in shares of Energy Transfer Equity (NYSE:ETE) by 11.4% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 130,380 shares of the pipeline company’s stock after selling 16,835 shares during the quarter. Bank of New York Mellon Corp’s holdings in Energy Transfer Equity were worth $2,250,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. SeaCrest Wealth Management LLC acquired a new stake in Energy Transfer Equity during the 4th quarter valued at approximately $115,000. Hall Laurie J Trustee increased its position in Energy Transfer Equity by 9,600.0% during the 4th quarter. Hall Laurie J Trustee now owns 9,700 shares of the pipeline company’s stock valued at $168,000 after purchasing an additional 9,600 shares during the period. Claraphi Advisory Network LLC acquired a new stake in Energy Transfer Equity during the 4th quarter valued at approximately $173,000. Belpointe Asset Management LLC acquired a new stake in Energy Transfer Equity during the 3rd quarter valued at approximately $184,000. Finally, First Dallas Securities Inc. acquired a new stake in Energy Transfer Equity during the 4th quarter valued at approximately $190,000. 49.10% of the stock is owned by institutional investors and hedge funds.
Shares of ETE stock opened at $15.26 on Tuesday. The company has a market cap of $15,917.40, a PE ratio of 12.61 and a beta of 1.86. Energy Transfer Equity has a 52 week low of $12.80 and a 52 week high of $19.50. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.35 and a quick ratio of 1.10.
Energy Transfer Equity (NYSE:ETE) last announced its quarterly earnings data on Wednesday, February 21st. The pipeline company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.32 by $0.09. Energy Transfer Equity had a net margin of 2.30% and a return on equity of 4.48%. The company had revenue of $11.45 billion during the quarter, compared to the consensus estimate of $12.20 billion. sell-side analysts expect that Energy Transfer Equity will post 1.35 earnings per share for the current fiscal year.
A number of research firms have weighed in on ETE. Robert W. Baird reissued a “buy” rating and set a $19.00 target price on shares of Energy Transfer Equity in a research report on Friday, April 6th. Zacks Investment Research raised shares of Energy Transfer Equity from a “sell” rating to a “hold” rating in a research report on Thursday, January 25th. Mizuho reaffirmed a “buy” rating and set a $20.00 price objective on shares of Energy Transfer Equity in a research report on Wednesday, April 11th. Wolfe Research raised shares of Energy Transfer Equity from a “market perform” rating to an “outperform” rating in a research report on Monday, December 18th. Finally, Royal Bank of Canada reaffirmed a “buy” rating and set a $22.00 price objective on shares of Energy Transfer Equity in a research report on Tuesday, January 16th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and eleven have assigned a buy rating to the stock. Energy Transfer Equity has a consensus rating of “Buy” and an average target price of $20.73.
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Energy Transfer Equity 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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