Kings Point Capital Management decreased its stake in Energy Transfer Equity, L.P. (NYSE:ETE) by 1.1% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 389,145 shares of the pipeline company’s stock after selling 4,333 shares during the period. Energy Transfer Equity, L.P. accounts for approximately 1.6% of Kings Point Capital Management’s holdings, making the stock its 21st largest position. Kings Point Capital Management’s holdings in Energy Transfer Equity, L.P. were worth $6,989,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of ETE. Neuberger Berman Group LLC boosted its position in shares of Energy Transfer Equity, L.P. by 2.1% in the second quarter. Neuberger Berman Group LLC now owns 30,638,715 shares of the pipeline company’s stock valued at $550,271,000 after buying an additional 639,558 shares in the last quarter. Penserra Capital Management LLC acquired a new position in shares of Energy Transfer Equity, L.P. during the second quarter valued at $106,000. HITE Hedge Asset Management LLC acquired a new position in shares of Energy Transfer Equity, L.P. during the second quarter valued at $1,086,000. Kayne Anderson Capital Advisors LP boosted its position in shares of Energy Transfer Equity, L.P. by 2.8% in the second quarter. Kayne Anderson Capital Advisors LP now owns 4,514,548 shares of the pipeline company’s stock valued at $81,070,000 after buying an additional 125,048 shares in the last quarter. Finally, Jennison Associates LLC boosted its position in shares of Energy Transfer Equity, L.P. by 18.3% in the second quarter. Jennison Associates LLC now owns 693,496 shares of the pipeline company’s stock valued at $12,455,000 after buying an additional 107,269 shares in the last quarter. Institutional investors and hedge funds own 50.27% of the company’s stock.

Shares of Energy Transfer Equity, L.P. (ETE) traded up 0.60% during mid-day trading on Friday, hitting $16.90. 1,604,157 shares of the stock traded hands. The stock has a market cap of $18.24 billion, a price-to-earnings ratio of 21.31 and a beta of 1.90. Energy Transfer Equity, L.P. has a 12 month low of $13.77 and a 12 month high of $20.05. The firm has a 50 day moving average of $17.46 and a 200 day moving average of $18.02.

Energy Transfer Equity, L.P. (NYSE:ETE) last issued its earnings results on Tuesday, August 8th. The pipeline company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.25 by $0.07. The company had revenue of $8.94 billion for the quarter, compared to analysts’ expectations of $11.41 billion. Energy Transfer Equity, L.P. had a return on equity of 3.79% and a net margin of 2.18%. Energy Transfer Equity, L.P.’s revenue for the quarter was up 20.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.23 earnings per share. On average, equities analysts expect that Energy Transfer Equity, L.P. will post $1.29 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Monday, August 21st. Shareholders of record on Monday, August 7th were given a dividend of $0.285 per share. The ex-dividend date was Thursday, August 3rd. This represents a $1.14 annualized dividend and a dividend yield of 6.75%. Energy Transfer Equity, L.P.’s payout ratio is currently 144.31%.

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Several research analysts have recently weighed in on the stock. BMO Capital Markets set a $19.00 price target on shares of Energy Transfer Equity, L.P. and gave the stock a “hold” rating in a research note on Friday, August 18th. BidaskClub cut shares of Energy Transfer Equity, L.P. from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 19th. Sanford C. Bernstein reiterated an “outperform” rating on shares of Energy Transfer Equity, L.P. in a research note on Thursday, August 10th. Zacks Investment Research upgraded shares of Energy Transfer Equity, L.P. from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 1st. Finally, Stifel Nicolaus assumed coverage on shares of Energy Transfer Equity, L.P. in a research note on Thursday, July 13th. They set a “buy” rating and a $20.00 price target on the stock. One analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $20.77.

Energy Transfer Equity, L.P. 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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Institutional Ownership by Quarter for Energy Transfer Equity, L.P. (NYSE:ETE)

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