First Manhattan Co. continued to hold its stake in Energy Transfer Equity, L.P. (NYSE:ETE) during the second quarter, Holdings Channel reports. The institutional investor owned 12,887 shares of the pipeline company’s stock at the end of the second quarter. First Manhattan Co.’s holdings in Energy Transfer Equity, L.P. were worth $231,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of ETE. ING Groep NV increased its stake in Energy Transfer Equity, L.P. by 2,796.7% in the first quarter. ING Groep NV now owns 7,041,900 shares of the pipeline company’s stock worth $138,937,000 after buying an additional 6,798,800 shares in the last quarter. Bank of Montreal Can increased its stake 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 worth $413,493,000 after buying an additional 6,078,618 shares in the last quarter. Atlantic Trust Group LLC increased its stake 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 worth $262,753,000 after buying an additional 1,892,220 shares in the last quarter. Brookfield Asset Management Inc. increased its stake in Energy Transfer Equity, L.P. by 145.3% in the first quarter. Brookfield Asset Management Inc. now owns 2,869,200 shares of the pipeline company’s stock worth $56,609,000 after buying an additional 1,699,700 shares in the last quarter. Finally, Pentwater Capital Management LP increased its stake in Energy Transfer Equity, L.P. by 127.5% in the first quarter. Pentwater Capital Management LP now owns 288,400 shares of the pipeline company’s stock worth $5,690,000 after buying an additional 1,338,400 shares in the last quarter. 50.41% of the stock is owned by institutional investors.

Shares of Energy Transfer Equity, L.P. (NYSE:ETE) opened at 17.23 on Friday. The stock’s 50 day moving average is $17.53 and its 200-day moving average is $18.15. Energy Transfer Equity, L.P. has a 52 week low of $13.77 and a 52 week high of $20.05. The company has a market cap of $18.53 billion, a price-to-earnings ratio of 31.21 and a beta of 1.90. Energy Transfer Equity, L.P. also saw unusually large options trading activity on Wednesday. Traders bought 19,918 call options on the stock. This is an increase of approximately 329% compared to the average volume of 4,644 call options.

Energy Transfer Equity, L.P. (NYSE:ETE) last posted its quarterly earnings results on Tuesday, August 8th. The pipeline company reported $0.18 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by $0.07. The company had revenue of $8.94 billion during the quarter, compared to analysts’ expectations of $11.41 billion. Energy Transfer Equity, L.P. had a return on equity of 3.84% and a net margin of 2.18%. The company’s quarterly revenue was up 20.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.23 EPS. On average, equities analysts anticipate that Energy Transfer Equity, L.P. will post $1.18 earnings per share for the current year.

The business 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. This represents a $1.14 annualized dividend and a yield of 6.62%. The ex-dividend date is Thursday, August 3rd. Energy Transfer Equity, L.P.’s dividend payout ratio is presently 144.31%.

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A number of analysts have recently issued reports on ETE shares. Sanford C. Bernstein raised shares of Energy Transfer Equity, L.P. from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $19.00 to $23.00 in a report on Wednesday, May 10th. Zacks Investment Research cut shares of Energy Transfer Equity, L.P. from a “buy” rating to a “hold” rating in a research report on Tuesday, April 18th. Deutsche Bank AG decreased their target price on shares of Energy Transfer Equity, L.P. from $23.00 to $22.00 and set a “buy” rating on the stock in a research report on Wednesday, June 21st. Royal Bank Of Canada reiterated a “buy” rating and issued a $22.00 target price on shares of Energy Transfer Equity, L.P. in a research report on Tuesday, May 23rd. Finally, Wolfe Research reiterated a “market perform” rating on shares of Energy Transfer Equity, L.P. in a research report on Friday, May 12th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $20.72.

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.

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

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