Cushing Asset Management LP trimmed its holdings in Energy Transfer Equity LP (NYSE:ETE) by 13.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,157,042 shares of the pipeline company’s stock after selling 1,106,872 shares during the quarter. Energy Transfer Equity comprises approximately 3.7% of Cushing Asset Management LP’s portfolio, making the stock its 6th biggest position. Cushing Asset Management LP owned approximately 0.66% of Energy Transfer Equity worth $123,530,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. G&S Capital LLC acquired a new stake in shares of Energy Transfer Equity in the fourth quarter valued at approximately $110,000. SeaCrest Wealth Management LLC acquired a new stake in shares of Energy Transfer Equity in the fourth quarter valued at approximately $115,000. AllSquare Wealth Management LLC acquired a new stake in shares of Energy Transfer Equity in the third quarter valued at approximately $139,000. Hall Laurie J Trustee boosted its holdings in shares of Energy Transfer Equity by 9,600.0% in the fourth quarter. Hall Laurie J Trustee now owns 9,700 shares of the pipeline company’s stock valued at $168,000 after acquiring 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 fourth quarter valued at approximately $173,000. 49.12% of the stock is owned by hedge funds and other institutional investors.
Shares of Energy Transfer Equity LP (ETE) opened at $15.52 on Tuesday. The company has a current ratio of 1.35, a quick ratio of 1.10 and a debt-to-equity ratio of 1.48. Energy Transfer Equity LP has a fifty-two week low of $15.03 and a fifty-two week high of $19.82. The firm has a market capitalization of $16,769.93, a price-to-earnings ratio of 14.94 and a beta of 1.86.
The business also recently declared a quarterly dividend, which was paid on Tuesday, February 20th. Investors of record on Thursday, February 8th were issued a dividend of $0.305 per share. 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. This represents a $1.22 annualized dividend and a dividend yield of 7.86%. Energy Transfer Equity’s dividend payout ratio (DPR) is currently 146.99%.
Several equities research analysts have recently weighed in on ETE shares. Royal Bank of Canada reissued a “buy” rating and issued a $22.00 price objective on shares of Energy Transfer Equity in a report on Tuesday, January 16th. Robert W. Baird reissued a “buy” rating and issued a $22.00 price objective on shares of Energy Transfer Equity in a report on Tuesday, February 27th. Zacks Investment Research raised Energy Transfer Equity from a “sell” rating to a “hold” rating in a report on Thursday, March 1st. Bank of America started coverage on Energy Transfer Equity in a report on Tuesday, January 9th. They issued a “neutral” rating for the company. Finally, Credit Suisse Group started coverage on Energy Transfer Equity in a report on Thursday, January 4th. They issued an “outperform” rating and a $23.00 price objective for the company. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $21.50.
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Energy Transfer Equity 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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