Infrastructure Capital Advisors LLC Sells 1,479,888 Shares of Energy Transfer Equity LP Unit (ETE)

Infrastructure Capital Advisors LLC cut its stake in shares of Energy Transfer Equity LP Unit (NYSE:ETE) by 60.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 950,450 shares of the pipeline company’s stock after selling 1,479,888 shares during the period. Energy Transfer Equity LP Unit accounts for about 1.4% of Infrastructure Capital Advisors LLC’s portfolio, making the stock its 19th biggest position. Infrastructure Capital Advisors LLC owned about 0.09% of Energy Transfer Equity LP Unit worth $13,506,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of ETE. Lee Financial Co raised its position in Energy Transfer Equity LP Unit by 357.0% during the first quarter. Lee Financial Co now owns 7,623 shares of the pipeline company’s stock valued at $109,000 after purchasing an additional 5,955 shares during the period. G&S Capital LLC purchased a new stake in Energy Transfer Equity LP Unit during the fourth quarter valued at approximately $110,000. SeaCrest Wealth Management LLC purchased a new stake in Energy Transfer Equity LP Unit during the fourth quarter valued at approximately $115,000. Sfmg LLC purchased a new stake in Energy Transfer Equity LP Unit during the first quarter valued at approximately $142,000. Finally, Jump Trading LLC purchased a new stake in Energy Transfer Equity LP Unit during the first quarter valued at approximately $158,000. Institutional investors and hedge funds own 48.22% of the company’s stock.

Several brokerages have recently weighed in on ETE. Zacks Investment Research downgraded Energy Transfer Equity LP Unit from a “buy” rating to a “hold” rating in a report on Wednesday, May 16th. Mizuho reiterated a “buy” rating and issued a $20.00 price target on shares of Energy Transfer Equity LP Unit in a report on Wednesday, April 11th. Robert W. Baird reiterated a “buy” rating and issued a $19.00 price target on shares of Energy Transfer Equity LP Unit in a report on Friday, April 6th. ValuEngine downgraded Energy Transfer Equity LP Unit from a “hold” rating to a “sell” rating in a report on Friday, April 6th. Finally, Bank of America reduced their price target on Energy Transfer Equity LP Unit from $19.00 to $17.00 and set a “neutral” rating on the stock in a report on Tuesday, March 27th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and twelve have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $20.36.

Shares of Energy Transfer Equity LP Unit opened at $17.66 on Thursday, MarketBeat reports. Energy Transfer Equity LP Unit has a 52-week low of $12.80 and a 52-week high of $19.34. The company has a market capitalization of $19.00 billion, a P/E ratio of 14.60 and a beta of 1.89. The company has a current ratio of 0.91, a quick ratio of 0.65 and a debt-to-equity ratio of 1.44.

Energy Transfer Equity LP Unit (NYSE:ETE) last announced its quarterly earnings data on Wednesday, May 9th. The pipeline company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.02). Energy Transfer Equity LP Unit had a return on equity of 5.13% and a net margin of 2.56%. The firm had revenue of $11.88 billion during the quarter, compared to the consensus estimate of $11.94 billion. During the same period last year, the company earned $0.21 EPS. The firm’s revenue for the quarter was up 23.0% compared to the same quarter last year. equities research analysts predict that Energy Transfer Equity LP Unit will post 1.84 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 21st. Investors of record on Monday, May 7th were paid a $0.305 dividend. The ex-dividend date of this dividend was Friday, May 4th. This represents a $1.22 annualized dividend and a yield of 6.91%. Energy Transfer Equity LP Unit’s dividend payout ratio (DPR) is currently 100.83%.

Energy Transfer Equity LP Unit 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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Institutional Ownership by Quarter for Energy Transfer Equity LP Unit (NYSE:ETE)

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