Energy Transfer Equity LP Unit (ETE) Bond Prices Rise 2.4%

An issue of Energy Transfer Equity LP Unit (NYSE:ETE) debt rose 2.4% against its face value during trading on Thursday. The debt issue has a 5.875% coupon and is set to mature on January 15, 2024. The debt is now trading at $106.75 and was trading at $104.00 one week ago. Price changes in a company’s debt in credit markets sometimes predict parallel changes in its stock price.

A number of brokerages have weighed in on ETE. Stephens raised Energy Transfer Equity LP Unit from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $20.00 to $23.00 in a report on Thursday. Zacks Investment Research raised Energy Transfer Equity LP Unit from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a report on Wednesday. US Capital Advisors reaffirmed a “hold” rating on shares of Energy Transfer Equity LP Unit in a report on Tuesday, July 17th. ValuEngine lowered Energy Transfer Equity LP Unit from a “hold” rating to a “sell” rating in a report on Thursday, June 28th. Finally, Bank of America raised Energy Transfer Equity LP Unit from a “neutral” rating to a “buy” rating and set a $17.00 price objective on the stock in a report on Thursday, May 17th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and thirteen have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $20.55.

Shares of NYSE:ETE traded up $0.52 during trading on Thursday, hitting $18.95. 34,726,500 shares of the stock were exchanged, compared to its average volume of 4,875,022. The firm has a market capitalization of $19.65 billion, a price-to-earnings ratio of 15.19 and a beta of 1.90. The company has a debt-to-equity ratio of 1.44, a current ratio of 0.91 and a quick ratio of 0.65. Energy Transfer Equity LP Unit has a 12-month low of $12.80 and a 12-month high of $19.34.

Energy Transfer Equity LP Unit (NYSE:ETE) last announced its quarterly earnings results on Wednesday, May 9th. The pipeline company reported $0.39 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by ($0.02). The firm had revenue of $11.88 billion for the quarter, compared to analysts’ expectations of $11.94 billion. Energy Transfer Equity LP Unit had a return on equity of 5.13% and a net margin of 2.56%. Energy Transfer Equity LP Unit’s revenue was up 23.0% compared to the same quarter last year. During the same period last year, the firm earned $0.21 EPS. equities analysts anticipate that Energy Transfer Equity LP Unit will post 1.95 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, August 20th. Stockholders of record on Monday, August 6th will be paid a dividend of $0.305 per share. This represents a $1.22 annualized dividend and a dividend yield of 6.44%. The ex-dividend date is Friday, August 3rd. Energy Transfer Equity LP Unit’s dividend payout ratio (DPR) is 100.83%.

Several large investors have recently made changes to their positions in the company. LVW Advisors LLC boosted its stake in shares of Energy Transfer Equity LP Unit by 9.7% during the 2nd quarter. LVW Advisors LLC now owns 32,950 shares of the pipeline company’s stock worth $568,000 after acquiring an additional 2,925 shares in the last quarter. Winslow Evans & Crocker Inc. lifted its stake in Energy Transfer Equity LP Unit by 78.9% in the 2nd quarter. Winslow Evans & Crocker Inc. now owns 6,800 shares of the pipeline company’s stock valued at $120,000 after buying an additional 3,000 shares in the last quarter. Creative Planning lifted its stake in Energy Transfer Equity LP Unit by 3.0% in the 2nd quarter. Creative Planning now owns 119,165 shares of the pipeline company’s stock valued at $2,056,000 after buying an additional 3,423 shares in the last quarter. US Bancorp DE lifted its stake in Energy Transfer Equity LP Unit by 1.7% in the 1st quarter. US Bancorp DE now owns 199,412 shares of the pipeline company’s stock valued at $2,834,000 after buying an additional 3,429 shares in the last quarter. Finally, Fieldpoint Private Securities LLC lifted its stake in Energy Transfer Equity LP Unit by 32.0% in the 1st quarter. Fieldpoint Private Securities LLC now owns 14,356 shares of the pipeline company’s stock valued at $204,000 after buying an additional 3,480 shares in the last quarter. 47.94% of the stock is currently owned by institutional investors and hedge funds.

Energy Transfer Equity LP Unit Company Profile

Energy Transfer Equity, L.P. provides diversified energy-related services in the United States. It owns and operates approximately 7,900 miles of natural gas transportation pipelines and three natural gas storage facilities in Texas; and approximately 11,800 miles of interstate natural gas pipelines.

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