Zacks Investment Research lowered shares of Energy Transfer Equity, L.P. (NYSE:ETE) from a hold rating to a strong sell rating in a research note issued to investors on Tuesday.

According to Zacks, “Energy Transfer Equity, L.P. owns a diversified portfolio of energy assets, including natural gas operations consisting miles of natural gas gathering and transportation pipelines, natural gas treating and processing assets located in Texas and Louisiana, and three natural gas storage facilities located in Texas. “

Several other research analysts have also commented on ETE. Stifel Nicolaus assumed coverage on Energy Transfer Equity, L.P. in a research report on Thursday, July 13th. They set a buy rating and a $20.00 price target on the stock. BidaskClub raised Energy Transfer Equity, L.P. from a strong sell rating to a sell rating in a research report on Tuesday, June 27th. US Capital Advisors reaffirmed a hold rating on shares of Energy Transfer Equity, L.P. in a research report on Friday, April 7th. ValuEngine lowered Energy Transfer Equity, L.P. from a buy rating to a hold rating in a report on Friday, June 2nd. Finally, BMO Capital Markets reissued a hold rating and issued a $19.00 target price on shares of Energy Transfer Equity, L.P. in a report on Monday, April 17th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of $20.72.

Shares of Energy Transfer Equity, L.P. (NYSE ETE) traded down 0.45% during midday trading on Tuesday, reaching $17.85. The company had a trading volume of 2,253,640 shares. The company’s 50 day moving average price is $17.19 and its 200 day moving average price is $18.21. The stock has a market capitalization of $19.26 billion, a PE ratio of 21.43 and a beta of 1.91. Energy Transfer Equity, L.P. has a 52-week low of $13.77 and a 52-week high of $20.05.

ILLEGAL ACTIVITY NOTICE: “Energy Transfer Equity, L.P. (ETE) Rating Lowered to Strong Sell at Zacks Investment Research” was first reported by Watch List News and is the property of of Watch List News. If you are viewing this piece of content on another domain, it was illegally copied and republished in violation of United States and international copyright and trademark legislation. The correct version of this piece of content can be accessed at https://www.watchlistnews.com/energy-transfer-equity-l-p-ete-rating-lowered-to-strong-sell-at-zacks-investment-research/1461669.html.

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 21st. Investors of record on Monday, August 7th will be paid a $0.285 dividend. The ex-dividend date of this dividend is Thursday, August 3rd. This represents a $1.14 dividend on an annualized basis and a dividend yield of 6.39%. Energy Transfer Equity, L.P.’s dividend payout ratio (DPR) is presently 135.71%.

Hedge funds have recently bought and sold shares of the stock. Botty Investors LLC acquired a new stake in Energy Transfer Equity, L.P. during the first quarter worth $144,000. Advisory Services Network LLC acquired a new stake in Energy Transfer Equity, L.P. during the first quarter worth $163,000. Hirtle Callaghan & Co LLC acquired a new stake in Energy Transfer Equity, L.P. during the first quarter worth $178,000. TNB Financial acquired a new stake in Energy Transfer Equity, L.P. during the first quarter worth $203,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in Energy Transfer Equity, L.P. during the first quarter worth $210,000. Hedge funds and other institutional investors own 51.31% of the company’s stock.

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.

Get a free copy of the Zacks research report on Energy Transfer Equity, L.P. (ETE)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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.