Energy Transfer Equity LP Unit (ETE) Shares Bought by Bank of Montreal Can

Bank of Montreal Can grew its stake in Energy Transfer Equity LP Unit (NYSE:ETE) by 6.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,534,065 shares of the pipeline company’s stock after purchasing an additional 714,057 shares during the quarter. Bank of Montreal Can owned approximately 1.08% of Energy Transfer Equity LP Unit worth $218,469,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Centaurus Financial Inc. bought a new position in Energy Transfer Equity LP Unit during the second quarter worth about $171,000. PNC Financial Services Group Inc. increased its position in Energy Transfer Equity LP Unit by 1.0% during the second quarter. PNC Financial Services Group Inc. now owns 646,012 shares of the pipeline company’s stock worth $11,146,000 after acquiring an additional 6,206 shares during the period. First Western Capital Management Co increased its position in Energy Transfer Equity LP Unit by 33.9% during the second quarter. First Western Capital Management Co now owns 31,668 shares of the pipeline company’s stock worth $546,000 after acquiring an additional 8,020 shares during the period. Angelo Gordon & CO. L.P. bought a new position in Energy Transfer Equity LP Unit during the second quarter worth about $43,125,000. Finally, Lake Street Advisors Group LLC increased its position in Energy Transfer Equity LP Unit by 663.3% during the second quarter. Lake Street Advisors Group LLC now owns 117,581 shares of the pipeline company’s stock worth $2,028,000 after acquiring an additional 102,177 shares during the period. 44.40% of the stock is currently owned by institutional investors.

In related news, Director Richard D. Brannon purchased 25,000 shares of Energy Transfer Equity LP Unit stock in a transaction dated Thursday, September 6th. The shares were bought at an average cost of $17.53 per share, for a total transaction of $438,250.00. Following the purchase, the director now owns 57,619 shares in the company, valued at approximately $1,010,061.07. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard D. Brannon purchased 100,000 shares of Energy Transfer Equity LP Unit stock in a transaction dated Tuesday, September 11th. The stock was bought at an average price of $17.68 per share, for a total transaction of $1,768,000.00. Following the completion of the purchase, the director now owns 92,619 shares in the company, valued at approximately $1,637,503.92. The disclosure for this purchase can be found here. 3.28% of the stock is owned by company insiders.

ETE stock traded up $0.17 during mid-day trading on Friday, hitting $16.90. The stock had a trading volume of 256,886 shares, compared to its average volume of 5,208,014. The company has a quick ratio of 0.76, a current ratio of 0.99 and a debt-to-equity ratio of 1.46. Energy Transfer Equity LP Unit has a 52 week low of $12.80 and a 52 week high of $19.34. The firm has a market cap of $20.19 billion, a P/E ratio of 13.92 and a beta of 1.91.

Energy Transfer Equity LP Unit (NYSE:ETE) last released its earnings results on Wednesday, August 8th. The pipeline company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.15). Energy Transfer Equity LP Unit had a net margin of 2.60% and a return on equity of 5.50%. The firm had revenue of $14.12 billion during the quarter, compared to the consensus estimate of $12.63 billion. During the same period in the prior year, the business earned $0.18 earnings per share. Energy Transfer Equity LP Unit’s quarterly revenue was up 49.8% compared to the same quarter last year. Equities analysts predict that Energy Transfer Equity LP Unit will post 2.08 EPS for the current year.

A number of equities analysts recently commented on ETE shares. Goldman Sachs Group started coverage on shares of Energy Transfer Equity LP Unit in a research report on Monday. They set a “buy” rating and a $23.00 price target on the stock. Stifel Nicolaus reaffirmed a “buy” rating and set a $21.00 price target (up from $19.00) on shares of Energy Transfer Equity LP Unit in a research report on Friday, August 10th. Morgan Stanley raised their price target on shares of Energy Transfer Equity LP Unit from $19.00 to $21.00 and gave the stock a “buy” rating in a research report on Friday, August 3rd. Zacks Investment Research raised shares of Energy Transfer Equity LP Unit from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a research report on Tuesday, July 24th. Finally, US Capital Advisors reaffirmed a “hold” rating on shares of Energy Transfer Equity LP Unit in a research report on Tuesday, July 17th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twelve have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $20.69.

Energy Transfer Equity LP Unit 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.

Featured Story: Diversification in Investing

Want to see what other hedge funds are holding ETE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Energy Transfer Equity LP Unit (NYSE:ETE).

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

Receive News & Ratings for Energy Transfer Equity LP Unit Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Energy Transfer Equity LP Unit and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply