Energy Transfer Equity LP (ETE) Sees Large Decrease in Short Interest

Energy Transfer Equity LP (NYSE:ETE) saw a significant decrease in short interest during the month of December. As of December 29th, there was short interest totalling 40,862,356 shares, a decrease of 10.5% from the December 15th total of 45,670,130 shares. Approximately 5.2% of the shares of the company are short sold. Based on an average daily volume of 5,318,055 shares, the days-to-cover ratio is presently 7.7 days.

ETE has been the subject of several recent research reports. Wolfe Research raised Energy Transfer Equity from a “market perform” rating to an “outperform” rating in a report on Monday, December 18th. Zacks Investment Research lowered Energy Transfer Equity from a “hold” rating to a “sell” rating in a report on Tuesday, October 17th. Goldman Sachs Group raised Energy Transfer Equity from a “neutral” rating to a “buy” rating and set a $23.00 target price for the company in a report on Tuesday, October 17th. Stifel Nicolaus reaffirmed a “buy” rating and set a $20.00 target price on shares of Energy Transfer Equity in a report on Thursday, October 12th. Finally, Robert W. Baird reaffirmed a “buy” rating and set a $24.00 target price on shares of Energy Transfer Equity in a report on Friday, October 27th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $21.78.

A number of hedge funds have recently modified their holdings of ETE. ING Groep NV bought a new position in Energy Transfer Equity in the 3rd quarter worth approximately $189,859,000. Balyasny Asset Management LLC grew its holdings in Energy Transfer Equity by 321.1% in the 2nd quarter. Balyasny Asset Management LLC now owns 8,650,000 shares of the pipeline company’s stock worth $155,354,000 after buying an additional 6,595,679 shares in the last quarter. Harvest Fund Advisors LLC grew its holdings in Energy Transfer Equity by 9.4% in the 3rd quarter. Harvest Fund Advisors LLC now owns 45,684,871 shares of the pipeline company’s stock worth $794,003,000 after buying an additional 3,914,284 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Energy Transfer Equity by 241.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,626,626 shares of the pipeline company’s stock worth $80,549,000 after buying an additional 3,270,434 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new position in Energy Transfer Equity in the 2nd quarter worth approximately $19,811,000. 51.57% of the stock is owned by institutional investors and hedge funds.

Energy Transfer Equity (NYSE:ETE) opened at $18.28 on Wednesday. Energy Transfer Equity has a fifty-two week low of $15.03 and a fifty-two week high of $19.85. The stock has a market capitalization of $19,730.00, a P/E ratio of 17.58 and a beta of 1.87. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.36 and a quick ratio of 1.11.

Energy Transfer Equity (NYSE:ETE) last issued its quarterly earnings data on Tuesday, November 7th. The pipeline company reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.12). Energy Transfer Equity had a return on equity of 3.84% and a net margin of 2.29%. The business had revenue of $9.47 billion during the quarter, compared to the consensus estimate of $16.25 billion. During the same period last year, the company earned $0.19 earnings per share. The business’s quarterly revenue was up 23.0% compared to the same quarter last year. analysts anticipate that Energy Transfer Equity will post 0.99 earnings per share for the current fiscal year.

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Energy Transfer Equity 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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