Hodges Capital Management Inc. purchased a new position in shares of Energy Transfer Equity, L.P. (NYSE:ETE) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 12,650 shares of the pipeline company’s stock, valued at approximately $227,000.

Other hedge funds have also recently modified their holdings of the company. Peoples Financial Services CORP. raised its stake in shares of Energy Transfer Equity, L.P. by 0.7% in the first quarter. Peoples Financial Services CORP. now owns 44,728 shares of the pipeline company’s stock worth $882,000 after buying an additional 320 shares during the period. OppenheimerFunds Inc. raised its stake in shares of 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 worth $534,629,000 after buying an additional 1,112,663 shares during the period. Chickasaw Capital Management LLC raised its stake in shares of 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 worth $402,820,000 after buying an additional 96,717 shares during the period. US Bancorp DE raised its stake in shares of Energy Transfer Equity, L.P. by 4.9% in the second quarter. US Bancorp DE now owns 212,111 shares of the pipeline company’s stock worth $3,810,000 after buying an additional 9,992 shares during the period. Finally, New England Private Wealth Advisors LLC purchased a new stake in shares of Energy Transfer Equity, L.P. during the first quarter worth approximately $312,000. Institutional investors own 50.41% of the company’s stock.

Energy Transfer Equity, L.P. (NYSE:ETE) opened at 17.23 on Friday. 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 market cap of $18.53 billion, a P/E ratio of 31.21 and a beta of 1.90. The firm’s 50-day moving average price is $17.53 and its 200-day moving average price is $18.15. Energy Transfer Equity, L.P. also was the target of some unusual options trading activity on Wednesday. Investors acquired 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 announced its quarterly earnings results on Tuesday, August 8th. The pipeline company reported $0.18 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by $0.07. Energy Transfer Equity, L.P. had a net margin of 2.18% and a return on equity of 3.84%. The business had revenue of $8.94 billion during the quarter, compared to the consensus estimate of $11.41 billion. During the same period in the previous year, the business posted $0.23 EPS. Energy Transfer Equity, L.P.’s revenue was up 20.5% compared to the same quarter last year. On average, equities research analysts expect that Energy Transfer Equity, L.P. will post $1.18 EPS for the current fiscal year.

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 given a $0.285 dividend. The ex-dividend date of this dividend is Thursday, August 3rd. This represents a $1.14 annualized dividend and a yield of 6.62%. Energy Transfer Equity, L.P.’s payout ratio is 144.31%.

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A number of analysts have recently commented on ETE shares. BidaskClub lowered Energy Transfer Equity, L.P. from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Sanford C. Bernstein raised Energy Transfer Equity, L.P. from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $19.00 to $23.00 in a research report on Wednesday, May 10th. Zacks Investment Research downgraded Energy Transfer Equity, L.P. from a “buy” rating to a “hold” rating in a research report on Tuesday, April 18th. ValuEngine downgraded Energy Transfer Equity, L.P. from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, Jefferies Group LLC raised Energy Transfer Equity, L.P. from a “hold” rating to a “buy” rating and set a $21.00 target price on the stock in a research report on Wednesday, April 19th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently 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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