Acorn Advisory Capital L.P. Grows Stake in Energy Transfer Equity LP Unit (ETE)

Acorn Advisory Capital L.P. grew its holdings in shares of Energy Transfer Equity LP Unit (NYSE:ETE) by 114.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 361,700 shares of the pipeline company’s stock after buying an additional 192,700 shares during the quarter. Energy Transfer Equity LP Unit accounts for about 7.4% of Acorn Advisory Capital L.P.’s investment portfolio, making the stock its 6th largest holding. Acorn Advisory Capital L.P.’s holdings in Energy Transfer Equity LP Unit were worth $6,239,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in shares of Energy Transfer Equity LP Unit during the 2nd quarter valued at approximately $229,053,000. Summit Trail Advisors LLC raised its position in shares of Energy Transfer Equity LP Unit by 1,391.1% during the 1st quarter. Summit Trail Advisors LLC now owns 6,694,396 shares of the pipeline company’s stock valued at $6,694,000 after acquiring an additional 6,245,435 shares in the last quarter. Atlantic Trust Group LLC raised its position in shares of Energy Transfer Equity LP Unit by 29.2% during the 1st quarter. Atlantic Trust Group LLC now owns 17,384,956 shares of the pipeline company’s stock valued at $247,039,000 after acquiring an additional 3,925,896 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Energy Transfer Equity LP Unit by 120.6% during the 1st quarter. JPMorgan Chase & Co. now owns 6,294,260 shares of the pipeline company’s stock valued at $89,442,000 after acquiring an additional 3,440,988 shares in the last quarter. Finally, Zimmer Partners LP raised its position in shares of Energy Transfer Equity LP Unit by 395.4% during the 1st quarter. Zimmer Partners LP now owns 3,499,298 shares of the pipeline company’s stock valued at $49,725,000 after acquiring an additional 2,792,972 shares in the last quarter. Institutional investors own 47.84% of the company’s stock.

Shares of NYSE ETE opened at $17.40 on Friday. Energy Transfer Equity LP Unit has a 1-year low of $12.80 and a 1-year high of $19.34. The company has a current ratio of 0.99, a quick ratio of 0.76 and a debt-to-equity ratio of 1.46. The firm has a market capitalization of $20.98 billion, a price-to-earnings ratio of 14.33 and a beta of 1.90.

Energy Transfer Equity LP Unit (NYSE:ETE) last issued its earnings results on Wednesday, August 8th. The pipeline company reported $0.31 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.46 by ($0.15). Energy Transfer Equity LP Unit had a return on equity of 5.50% and a net margin of 2.60%. The company had revenue of $14.12 billion during the quarter, compared to analyst estimates of $12.63 billion. During the same period in the prior year, the business earned $0.18 earnings per share. Energy Transfer Equity LP Unit’s quarterly revenue was up 49.8% on a year-over-year basis. sell-side analysts anticipate that Energy Transfer Equity LP Unit will post 1.95 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, August 20th. Shareholders of record on Monday, August 6th will be given a $0.305 dividend. This represents a $1.22 annualized dividend and a yield of 7.01%. The ex-dividend date is Friday, August 3rd. Energy Transfer Equity LP Unit’s dividend payout ratio is presently 100.83%.

Several equities research analysts recently issued reports on ETE shares. Zacks Investment Research lowered Energy Transfer Equity LP Unit from a “buy” rating to a “hold” rating in a research report on Wednesday, July 25th. Bank of America raised Energy Transfer Equity LP Unit from a “neutral” rating to a “buy” rating and set a $17.00 price target on the stock in a research report on Thursday, May 17th. Morgan Stanley increased their target price on Energy Transfer Equity LP Unit from $19.00 to $21.00 and gave the stock a “buy” rating in a research report on Friday, August 3rd. Stifel Nicolaus reaffirmed a “buy” rating and issued a $21.00 target price (up from $19.00) on shares of Energy Transfer Equity LP Unit in a research report on Friday, August 10th. Finally, US Capital Advisors reaffirmed a “hold” rating on shares of Energy Transfer Equity LP Unit in a research report on Tuesday, July 17th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and eleven have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $20.67.

Energy Transfer Equity LP Unit 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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Institutional Ownership by Quarter for Energy Transfer Equity LP Unit (NYSE:ETE)

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