Franklin Resources Inc. trimmed its stake in shares of Energy Transfer Partners LP (NYSE:ETP) by 67.6% in the 4th quarter, HoldingsChannel reports. The fund owned 16,081 shares of the pipeline company’s stock after selling 33,572 shares during the period. Franklin Resources Inc.’s holdings in Energy Transfer Partners were worth $288,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of ETP. Cerebellum GP LLC purchased a new position in Energy Transfer Partners during the fourth quarter valued at $127,000. Exane Derivatives grew its stake in Energy Transfer Partners by 15,645.8% during the fourth quarter. Exane Derivatives now owns 7,558 shares of the pipeline company’s stock valued at $135,000 after acquiring an additional 7,510 shares in the last quarter. Montag A & Associates Inc. purchased a new position in Energy Transfer Partners during the fourth quarter valued at $183,000. B. Riley Financial Inc. purchased a new position in Energy Transfer Partners during the third quarter valued at $185,000. Finally, TD Asset Management Inc. purchased a new position in Energy Transfer Partners during the third quarter valued at $187,000. 64.25% of the stock is owned by institutional investors.
Several research firms recently weighed in on ETP. Mizuho reaffirmed a “buy” rating on shares of Energy Transfer Partners in a research note on Monday, March 19th. Bank of America cut their target price on shares of Energy Transfer Partners from $26.00 to $23.00 and set a “buy” rating for the company in a research note on Tuesday, March 27th. ValuEngine cut shares of Energy Transfer Partners from a “hold” rating to a “sell” rating in a research note on Thursday, March 1st. Robert W. Baird set a $22.00 target price on shares of Energy Transfer Partners and gave the company a “buy” rating in a research note on Tuesday, February 27th. Finally, Credit Suisse Group began coverage on shares of Energy Transfer Partners in a research note on Thursday, January 4th. They set an “outperform” rating and a $20.00 target price for the company. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $25.68.
Energy Transfer Partners (NYSE:ETP) last issued its quarterly earnings data on Wednesday, February 21st. The pipeline company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.08. Energy Transfer Partners had a net margin of 6.54% and a return on equity of 6.43%. The business had revenue of $8.61 billion during the quarter, compared to analysts’ expectations of $8.07 billion. research analysts expect that Energy Transfer Partners LP will post 1.23 EPS for the current fiscal year.
In other Energy Transfer Partners news, Director Michael K. Grimm acquired 4,600 shares of the company’s stock in a transaction on Friday, March 16th. The stock was acquired at an average cost of $17.06 per share, with a total value of $78,476.00. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 0.17% of the company’s stock.
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About Energy Transfer Partners
Energy Transfer Partners, L.P., formerly Sunoco Logistics Partners L.P., owns and operates a logistics business. The Company is engaged in the transport, terminaling and storage of crude oil, refined products and natural gas liquids (NGLs). The Company’s segments include Crude Oil, Natural Gas Liquids and Refined Products.
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