Energy Transfer Equity LP (NYSE:ETE) shares gapped up prior to trading on Thursday . The stock had previously closed at $15.52, but opened at $16.26. Energy Transfer Equity shares last traded at $16.67, with a volume of 5731688 shares.
Several research firms have recently issued reports on ETE. Zacks Investment Research upgraded Energy Transfer Equity from a “sell” rating to a “hold” rating in a research report on Thursday, January 25th. Bank of America assumed coverage on Energy Transfer Equity in a research report on Tuesday, January 9th. They issued a “neutral” rating on the stock. Royal Bank of Canada reaffirmed a “buy” rating and set a $22.00 price objective 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 objective on the stock. Finally, Robert W. Baird reaffirmed a “buy” rating and set a $24.00 price objective on shares of Energy Transfer Equity in a research note on Friday, October 27th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $21.70.
The firm has a market cap of $18,020.00, a P/E ratio of 19.42 and a beta of 1.81. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.36 and a quick ratio of 1.11.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 20th. Investors of record on Thursday, February 8th were paid a dividend of $0.305 per share. This represents a $1.22 annualized dividend and a yield of 7.31%. The ex-dividend date of this dividend was Wednesday, February 7th. This is an increase from Energy Transfer Equity’s previous quarterly dividend of $0.30. Energy Transfer Equity’s dividend payout ratio (DPR) is presently 141.86%.
A number of institutional investors have recently modified their holdings of ETE. G&S Capital LLC acquired a new stake in shares of Energy Transfer Equity in the 4th quarter valued at about $110,000. SeaCrest Wealth Management LLC acquired a new stake in shares of Energy Transfer Equity in the 4th quarter valued at about $115,000. AllSquare Wealth Management LLC acquired a new stake in shares of Energy Transfer Equity in the 3rd quarter valued at about $139,000. Hall Laurie J Trustee raised its stake in shares of Energy Transfer Equity by 9,600.0% in 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. Finally, Claraphi Advisory Network LLC acquired a new stake in shares of Energy Transfer Equity in the 4th quarter valued at about $173,000. 51.15% of the stock is currently owned by institutional investors and hedge funds.
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About Energy Transfer Equity
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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