Neuberger Berman Group LLC Cuts Holdings in Energy Transfer Equity LP (ETE)
Neuberger Berman Group LLC lowered its position in shares of Energy Transfer Equity LP (NYSE:ETE) by 2.8% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 29,783,494 shares of the pipeline company’s stock after selling 855,221 shares during the quarter. Energy Transfer Equity comprises 0.6% of Neuberger Berman Group LLC’s portfolio, making the stock its 16th largest position. Neuberger Berman Group LLC owned approximately 2.76% of Energy Transfer Equity worth $517,637,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in ETE. Harvest Fund Advisors LLC grew its holdings in Energy Transfer Equity by 9.4% in the 3rd quarter. Harvest Fund Advisors LLC now owns 45,684,871 shares of the pipeline company’s stock worth $794,003,000 after buying an additional 3,914,284 shares in the last quarter. ING Groep NV bought a new position in Energy Transfer Equity in the 3rd quarter worth approximately $189,859,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in Energy Transfer Equity by 4.1% in the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 10,597,720 shares of the pipeline company’s stock worth $184,188,000 after buying an additional 416,462 shares in the last quarter. Balyasny Asset Management LLC grew its holdings in Energy Transfer Equity by 321.1% in the 2nd quarter. Balyasny Asset Management LLC now owns 8,650,000 shares of the pipeline company’s stock worth $155,354,000 after buying an additional 6,595,679 shares in the last quarter. Finally, Kayne Anderson Capital Advisors LP grew its holdings in Energy Transfer Equity by 13.1% in the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 5,105,148 shares of the pipeline company’s stock worth $88,714,000 after buying an additional 590,600 shares in the last quarter. Hedge funds and other institutional investors own 51.53% of the company’s stock.
Energy Transfer Equity LP (ETE) traded down $0.04 on Tuesday, hitting $16.03. The stock had a trading volume of 7,051,100 shares, compared to its average volume of 5,284,140. The stock has a market capitalization of $17,342.50, a price-to-earnings ratio of 19.13 and a beta of 1.86. Energy Transfer Equity LP has a one year low of $15.03 and a one year high of $20.05. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.36 and a quick ratio of 1.11.
Energy Transfer Equity (NYSE:ETE) last announced its quarterly earnings data on Tuesday, November 7th. The pipeline company reported $0.22 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by ($0.12). Energy Transfer Equity had a return on equity of 3.84% and a net margin of 2.29%. The firm had revenue of $9.47 billion for the quarter, compared to analysts’ expectations of $16.25 billion. During the same quarter in the prior year, the business posted $0.19 earnings per share. Energy Transfer Equity’s revenue was up 23.0% on a year-over-year basis. equities analysts expect that Energy Transfer Equity LP will post 0.99 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, November 20th. Investors of record on Tuesday, November 7th were issued a dividend of $0.295 per share. This represents a $1.18 annualized dividend and a dividend yield of 7.36%. This is a positive change from Energy Transfer Equity’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Monday, November 6th. Energy Transfer Equity’s dividend payout ratio (DPR) is currently 143.90%.
A number of equities analysts recently issued reports on ETE shares. Morgan Stanley raised Energy Transfer Equity to a “buy” rating in a report on Wednesday, August 30th. Royal Bank of Canada reissued a “buy” rating and issued a $22.00 price objective on shares of Energy Transfer Equity in a report on Wednesday, September 6th. Zacks Investment Research lowered Energy Transfer Equity from a “hold” rating to a “sell” rating in a report on Tuesday, October 17th. Goldman Sachs Group raised Energy Transfer Equity from a “neutral” rating to a “buy” rating and set a $23.00 price target for the company in a research note on Tuesday, October 17th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $20.00 price target on shares of Energy Transfer Equity in a research note on Thursday, October 12th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. Energy Transfer Equity presently has a consensus rating of “Buy” and an average target price of $21.78.
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About Energy Transfer Equity
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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