Energy Transfer Equity (ETE) Short Interest Up 18.6% in March

Energy Transfer Equity (NYSE:ETE) was the recipient of a significant growth in short interest during the month of March. As of March 29th, there was short interest totalling 31,028,047 shares, a growth of 18.6% from the March 15th total of 26,167,447 shares. Approximately 4.4% of the company’s stock are sold short. Based on an average daily volume of 4,631,425 shares, the short-interest ratio is currently 6.7 days.

Shares of ETE opened at $15.26 on Tuesday. The company has a market cap of $15,917.40, a P/E ratio of 12.61 and a beta of 1.86. The company has a quick ratio of 1.10, a current ratio of 1.35 and a debt-to-equity ratio of 1.48. Energy Transfer Equity has a twelve month low of $12.80 and a twelve month high of $19.50.

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Energy Transfer Equity (NYSE:ETE) last announced its quarterly earnings results on Wednesday, February 21st. The pipeline company reported $0.41 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.09. The company had revenue of $11.45 billion during the quarter, compared to the consensus estimate of $12.20 billion. Energy Transfer Equity had a net margin of 2.30% and a return on equity of 4.48%. sell-side analysts anticipate that Energy Transfer Equity will post 1.35 EPS for the current fiscal year.

Several equities analysts have recently issued reports on ETE shares. Wolfe Research upgraded shares of Energy Transfer Equity from a “market perform” rating to an “outperform” rating in a report on Monday, December 18th. Zacks Investment Research lowered shares of Energy Transfer Equity from a “hold” rating to a “sell” rating in a report on Tuesday, February 20th. Royal Bank of Canada reissued a “buy” rating and set a $22.00 price target on shares of Energy Transfer Equity in a research report on Tuesday, January 16th. Bank of America initiated coverage on shares of Energy Transfer Equity in a research report on Tuesday, January 9th. They set a “neutral” rating for the company. Finally, Credit Suisse Group initiated coverage on shares of Energy Transfer Equity in a research report on Thursday, January 4th. They set an “outperform” rating and a $23.00 price target for the company. Two research analysts have rated the stock with a sell rating, three have given a hold rating and eleven have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $20.73.

A number of large investors have recently bought and sold shares of the business. Ballentine Partners LLC grew its position in Energy Transfer Equity by 3.5% in the 4th quarter. Ballentine Partners LLC now owns 100,568 shares of the pipeline company’s stock worth $1,736,000 after purchasing an additional 3,418 shares during the period. Highland Capital Management LLC grew its position in Energy Transfer Equity by 6.6% in the 4th quarter. Highland Capital Management LLC now owns 64,360 shares of the pipeline company’s stock worth $1,111,000 after purchasing an additional 4,000 shares during the period. Hodges Capital Management Inc. grew its position in Energy Transfer Equity by 28.3% in the 4th quarter. Hodges Capital Management Inc. now owns 22,650 shares of the pipeline company’s stock worth $391,000 after purchasing an additional 5,000 shares during the period. Avenir Corp grew its position in Energy Transfer Equity by 2.3% in the 4th quarter. Avenir Corp now owns 219,382 shares of the pipeline company’s stock worth $3,787,000 after purchasing an additional 5,000 shares during the period. Finally, Valeo Financial Advisors LLC grew its position in Energy Transfer Equity by 50.4% in the 4th quarter. Valeo Financial Advisors LLC now owns 18,035 shares of the pipeline company’s stock worth $311,000 after purchasing an additional 6,041 shares during the period. 49.10% of the stock is owned by institutional investors and hedge funds.

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About Energy Transfer Equity

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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