BidaskClub lowered shares of Energy Transfer Equity, L.P. (NYSE:ETE) from a hold rating to a sell rating in a report published on Friday.

Several other research analysts have also issued reports on the stock. Zacks Investment Research lowered shares of Energy Transfer Equity, L.P. from a hold rating to a strong sell rating in a research note on Tuesday, July 25th. Stifel Nicolaus initiated 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 objective for the company. Deutsche Bank AG reduced their price objective on shares of Energy Transfer Equity, L.P. from $23.00 to $22.00 and set a buy rating for the company in a research note on Wednesday, June 21st. ValuEngine lowered shares of Energy Transfer Equity, L.P. from a buy rating to a hold rating in a research note on Friday, June 2nd. Finally, Royal Bank Of Canada restated a buy rating and set a $22.00 price objective on shares of Energy Transfer Equity, L.P. in a research note on Tuesday, May 23rd. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus target price of $20.72.

Energy Transfer Equity, L.P. (ETE) opened at 17.67 on Friday. The company’s 50-day moving average is $17.22 and its 200 day moving average is $18.19. The stock has a market capitalization of $19.07 billion, a PE ratio of 21.21 and a beta of 1.91. Energy Transfer Equity, L.P. has a 12-month low of $13.77 and a 12-month high of $20.05.

COPYRIGHT VIOLATION NOTICE: This report was published by Watch List News and is the sole property of of Watch List News. If you are reading this report on another domain, it was copied illegally and republished in violation of U.S. and international copyright legislation. The legal version of this report can be read at https://www.watchlistnews.com/bidaskclub-downgrades-energy-transfer-equity-l-p-nyseete-to-sell/1465512.html.

The business also recently declared a quarterly dividend, which will be paid on Monday, August 21st. Stockholders of record on Monday, August 7th will be issued a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a dividend yield of 6.45%. The ex-dividend date is Thursday, August 3rd. Energy Transfer Equity, L.P.’s payout ratio is presently 135.71%.

Several hedge funds have recently made changes to their positions in the stock. Morgan Stanley raised its position in Energy Transfer Equity, L.P. by 1.1% in the first quarter. Morgan Stanley now owns 48,923,092 shares of the pipeline company’s stock valued at $965,253,000 after buying an additional 529,737 shares during the period. OppenheimerFunds Inc. raised its position in Energy Transfer Equity, L.P. by 4.3% in the first quarter. OppenheimerFunds Inc. now owns 27,097,302 shares of the pipeline company’s stock valued at $534,629,000 after buying an additional 1,112,663 shares during the period. Bank of Montreal Can raised its position in Energy Transfer Equity, L.P. by 35.9% in the second quarter. Bank of Montreal Can now owns 23,022,988 shares of the pipeline company’s stock valued at $413,493,000 after buying an additional 6,078,618 shares during the period. Chickasaw Capital Management LLC raised its position in Energy Transfer Equity, L.P. by 0.4% in the second quarter. Chickasaw Capital Management LLC now owns 22,428,755 shares of the pipeline company’s stock valued at $402,820,000 after buying an additional 96,717 shares during the period. Finally, Atlantic Trust Group LLC raised its position in Energy Transfer Equity, L.P. by 16.6% in the first quarter. Atlantic Trust Group LLC now owns 13,317,451 shares of the pipeline company’s stock valued at $262,753,000 after buying an additional 1,892,220 shares during the period. 50.64% of the stock is currently owned by hedge funds and other institutional investors.

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.

Analyst Recommendations for Energy Transfer Equity, L.P. (NYSE:ETE)

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