Gen IV Investment Opportunities LLC lifted its position in Energy Transfer Equity LP (NYSE:ETE) by 87.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,494,213 shares of the pipeline company’s stock after buying an additional 698,213 shares during the period. Energy Transfer Equity makes up about 9.7% of Gen IV Investment Opportunities LLC’s portfolio, making the stock its 6th largest position. Gen IV Investment Opportunities LLC owned approximately 0.14% of Energy Transfer Equity worth $25,969,000 at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of ETE. Penserra Capital Management LLC purchased a new position in shares of Energy Transfer Equity during the 2nd quarter valued at approximately $106,000. Ffcm LLC grew its holdings in shares of Energy Transfer Equity by 226.7% during the second quarter. Ffcm LLC now owns 6,273 shares of the pipeline company’s stock worth $114,000 after buying an additional 4,353 shares in the last quarter. AllSquare Wealth Management LLC purchased a new stake in shares of Energy Transfer Equity during the third quarter worth $139,000. Sei Investments Co. grew its holdings in shares of Energy Transfer Equity by 6.1% during the second quarter. Sei Investments Co. now owns 8,700 shares of the pipeline company’s stock worth $156,000 after buying an additional 500 shares in the last quarter. Finally, Advisory Services Network LLC grew its holdings in shares of Energy Transfer Equity by 12.6% during the second quarter. Advisory Services Network LLC now owns 9,331 shares of the pipeline company’s stock worth $168,000 after buying an additional 1,047 shares in the last quarter. 51.53% of the stock is currently owned by hedge funds and other institutional investors.
Energy Transfer Equity LP (NYSE:ETE) traded up $0.48 during trading on Tuesday, reaching $17.74. The company had a trading volume of 4,768,100 shares, compared to its average volume of 5,010,000. Energy Transfer Equity LP has a 12-month low of $15.03 and a 12-month high of $20.05. The firm has a market cap of $19,140.00, a price-to-earnings ratio of 17.06 and a beta of 1.87. The company has a quick ratio of 1.11, a current ratio of 1.36 and a debt-to-equity ratio of 1.69.
Energy Transfer Equity (NYSE:ETE) last issued its quarterly earnings results on Tuesday, November 7th. The pipeline company reported $0.22 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.34 by ($0.12). Energy Transfer Equity had a net margin of 2.29% and a return on equity of 3.84%. The firm had revenue of $9.47 billion during the quarter, compared to the consensus estimate of $16.25 billion. During the same quarter last year, the firm posted $0.19 earnings per share. Energy Transfer Equity’s revenue was up 23.0% compared to the same quarter last year. sell-side analysts anticipate that Energy Transfer Equity LP will post 0.99 earnings per share for the current year.
ETE has been the topic of several recent research reports. Mizuho reissued a “buy” rating and set a $21.00 price target on shares of Energy Transfer Equity in a research report on Friday, October 20th. Zacks Investment Research cut shares of Energy Transfer Equity from a “hold” rating to a “sell” rating in a research report on Tuesday, October 17th. Morgan Stanley restated an “overweight” rating on shares of Energy Transfer Equity in a research note on Tuesday, September 5th. Robert W. Baird reiterated a “buy” rating and issued a $24.00 price target on shares of Energy Transfer Equity in a research note on Friday, October 27th. Finally, Goldman Sachs Group raised Energy Transfer Equity 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. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $21.78.
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Energy Transfer Equity 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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