Energy Transfer Equity, L.P. (ETE) Shares Sold by Sandy Spring Bank

Sandy Spring Bank decreased its stake in Energy Transfer Equity, L.P. (NYSE:ETE) by 42.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 90,000 shares of the pipeline company’s stock after selling 67,400 shares during the period. Sandy Spring Bank’s holdings in Energy Transfer Equity, L.P. were worth $1,616,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of ETE. Waldron LP acquired a new position in shares of Energy Transfer Equity, L.P. in the 1st quarter valued at $403,000. Bank of New York Mellon Corp boosted its holdings in shares of Energy Transfer Equity, L.P. by 104.4% in the 1st quarter. Bank of New York Mellon Corp now owns 311,102 shares of the pipeline company’s stock valued at $6,138,000 after buying an additional 158,876 shares in the last quarter. Suntrust Banks Inc. boosted its holdings in shares of Energy Transfer Equity, L.P. by 0.4% in the 1st quarter. Suntrust Banks Inc. now owns 13,525 shares of the pipeline company’s stock valued at $266,000 after buying an additional 51 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Energy Transfer Equity, L.P. in the 1st quarter valued at $210,000. Finally, Heritage Wealth Advisors acquired a new position in shares of Energy Transfer Equity, L.P. in the 1st quarter valued at $1,919,000. Institutional investors and hedge funds own 48.44% of the company’s stock.

A number of brokerages recently weighed in on ETE. Royal Bank Of Canada reiterated a “buy” rating and set a $22.00 price target on shares of Energy Transfer Equity, L.P. in a research note on Tuesday, May 23rd. Zacks Investment Research upgraded shares of Energy Transfer Equity, L.P. from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 1st. BidaskClub upgraded shares of Energy Transfer Equity, L.P. from a “sell” rating to a “hold” rating in a research note on Monday, July 3rd. Stifel Nicolaus began coverage on shares of Energy Transfer Equity, L.P. in a research note on Thursday, July 13th. They set a “buy” rating and a $20.00 price target for the company. Finally, Jefferies Group LLC decreased their price target on shares of Energy Transfer Equity, L.P. from $21.00 to $20.00 and set a “buy” rating for the company in a research note on Sunday, September 10th. One research analyst has rated the stock with a sell rating, six have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Energy Transfer Equity, L.P. presently has a consensus rating of “Buy” and a consensus target price of $20.68.

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Energy Transfer Equity, L.P. (NYSE:ETE) traded down 0.06% during mid-day trading on Friday, hitting $17.49. 4,874,811 shares of the stock traded hands. The firm has a market cap of $18.87 billion, a price-to-earnings ratio of 22.06 and a beta of 1.90. Energy Transfer Equity, L.P. has a 1-year low of $13.77 and a 1-year high of $20.05. The stock has a 50-day moving average of $17.30 and a 200 day moving average of $17.87.

Energy Transfer Equity, L.P. (NYSE:ETE) last announced its quarterly earnings results on Tuesday, August 8th. The pipeline company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.07). Energy Transfer Equity, L.P. had a net margin of 2.18% and a return on equity of 3.79%. The firm had revenue of $8.94 billion for the quarter, compared to analyst estimates of $11.41 billion. During the same period last year, the firm posted $0.23 EPS. The business’s revenue was up 20.5% compared to the same quarter last year. On average, equities analysts expect that Energy Transfer Equity, L.P. will post $1.30 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Monday, August 21st. Stockholders of record on Monday, August 7th were issued a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a dividend yield of 6.52%. The ex-dividend date was Thursday, August 3rd. Energy Transfer Equity, L.P.’s dividend payout ratio (DPR) is 144.31%.

Energy Transfer Equity, L.P. Company 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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Institutional Ownership by Quarter for Energy Transfer Equity, L.P. (NYSE:ETE)

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