Energy Transfer Equity, L.P. (NYSE:ETE) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Tuesday.

According to Zacks, “Energy Transfer Equity, L.P. owns a diversified portfolio of energy assets, including natural gas operations consisting miles of natural gas gathering and transportation pipelines, natural gas treating and processing assets located in Texas and Louisiana, and three natural gas storage facilities located in Texas. “

Other equities research analysts have also recently issued reports about the company. Stifel Nicolaus reaffirmed a “buy” rating and issued a $20.00 price target on shares of Energy Transfer Equity, L.P. in a research note on Thursday, October 12th. Jefferies Group LLC reduced their price target on Energy Transfer Equity, L.P. from $21.00 to $20.00 and set a “buy” rating on the stock in a research note on Sunday, September 10th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $22.00 price target on shares of Energy Transfer Equity, L.P. in a research note on Wednesday, September 6th. Deutsche Bank AG reduced their price target on Energy Transfer Equity, L.P. from $23.00 to $22.00 and set a “buy” rating on the stock in a research note on Wednesday, June 21st. Finally, Morgan Stanley raised Energy Transfer Equity, L.P. to a “buy” rating in a research note on Wednesday, August 30th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $21.32.

Shares of Energy Transfer Equity, L.P. (NYSE ETE) traded down 0.06% during mid-day trading on Tuesday, hitting $17.74. 3,276,526 shares of the stock traded hands. The firm’s 50-day moving average is $17.60 and its 200-day moving average is $17.68. Energy Transfer Equity, L.P. has a 52 week low of $13.77 and a 52 week high of $20.05. The stock has a market cap of $19.14 billion, a price-to-earnings ratio of 22.37 and a beta of 1.90.

Energy Transfer Equity, L.P. (NYSE:ETE) last posted its earnings results on Tuesday, August 8th. The pipeline company reported $0.18 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 business had revenue of $8.94 billion for the quarter, compared to analysts’ expectations of $11.41 billion. During the same period last year, the firm posted $0.23 earnings per share. Energy Transfer Equity, L.P.’s quarterly revenue was up 20.5% on a year-over-year basis. On average, analysts forecast that Energy Transfer Equity, L.P. will post $1.24 earnings per share for the current year.

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Institutional investors have recently added to or reduced their stakes in the business. Penserra Capital Management LLC bought a new position in shares of Energy Transfer Equity, L.P. during the second quarter valued at $106,000. Ffcm LLC lifted its holdings in shares of Energy Transfer Equity, L.P. by 226.7% during the second quarter. Ffcm LLC now owns 6,273 shares of the pipeline company’s stock valued at $114,000 after purchasing an additional 4,353 shares in the last quarter. Sei Investments Co. lifted its holdings in shares of Energy Transfer Equity, L.P. by 6.1% during the second quarter. Sei Investments Co. now owns 8,700 shares of the pipeline company’s stock valued at $156,000 after purchasing an additional 500 shares in the last quarter. Advisory Services Network LLC lifted its holdings in shares of Energy Transfer Equity, L.P. by 12.6% during the second quarter. Advisory Services Network LLC now owns 9,331 shares of the pipeline company’s stock valued at $168,000 after purchasing an additional 1,047 shares in the last quarter. Finally, Frontier Wealth Management LLC bought a new position in shares of Energy Transfer Equity, L.P. during the second quarter valued at $185,000. 48.43% of the stock is currently owned by institutional investors and hedge funds.

About Energy Transfer Equity, L.P.

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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