Energy Transfer Equity, L.P. (NYSE:ETE) Releases Quarterly Earnings Results, Misses Estimates By $0.07 EPS

Energy Transfer Equity, L.P. (NYSE:ETE) released its quarterly earnings results on Tuesday, August 8th. The pipeline company reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by $0.07, Briefing.com reports. The company had revenue of $8.94 billion during the quarter, compared to analysts’ expectations of $11.41 billion. Energy Transfer Equity, L.P. had a net margin of 2.18% and a return on equity of 3.79%. Energy Transfer Equity, L.P.’s revenue was up 20.5% on a year-over-year basis. During the same period last year, the firm posted $0.23 earnings per share.

Shares of Energy Transfer Equity, L.P. (NYSE:ETE) traded down 0.48% on Friday, hitting $16.67. 2,904,452 shares of the stock traded hands. Energy Transfer Equity, L.P. has a 12-month low of $13.77 and a 12-month high of $20.05. The firm’s 50-day moving average is $17.62 and its 200 day moving average is $18.08. The firm has a market cap of $17.99 billion, a P/E ratio of 21.02 and a beta of 1.90.

The business also recently announced a quarterly dividend, which will be paid on Monday, August 21st. Stockholders of record on Monday, August 7th will be issued a $0.285 dividend. This represents a $1.14 annualized dividend and a dividend yield of 6.84%. The ex-dividend date is Thursday, August 3rd. Energy Transfer Equity, L.P.’s payout ratio is 144.31%.

A number of research analysts recently weighed in on the stock. Zacks Investment Research cut shares of Energy Transfer Equity, L.P. from a “hold” rating to a “strong sell” rating in a report on Wednesday, April 26th. Sanford C. Bernstein assumed coverage on shares of Energy Transfer Equity, L.P. in a report on Tuesday, May 16th. They issued a “market perform” rating for the company. Wolfe Research restated a “market perform” rating on shares of Energy Transfer Equity, L.P. in a report on Friday, May 12th. Royal Bank Of Canada restated a “buy” rating and issued a $22.00 price objective on shares of Energy Transfer Equity, L.P. in a report on Tuesday, May 23rd. Finally, BidaskClub upgraded shares of Energy Transfer Equity, L.P. from a “sell” rating to a “hold” rating in a report on Monday, July 3rd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Energy Transfer Equity, L.P. currently has an average rating of “Buy” and a consensus price target of $20.77.

COPYRIGHT VIOLATION NOTICE: This piece of content was originally published by BNB Daily and is owned by of BNB Daily. If you are accessing this piece of content on another publication, it was illegally copied and republished in violation of US and international copyright laws. The original version of this piece of content can be read at https://www.baseball-news-blog.com/2017/08/20/energy-transfer-equity-l-p-nyseete-announces-quarterly-earnings-results-misses-expectations-by-0-07-eps-updated.html.

Hedge funds have recently bought and sold shares of the stock. Peoples Financial Services CORP. raised its stake in 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 in the last quarter. OppenheimerFunds Inc. increased its stake in 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 last quarter. Chickasaw Capital Management LLC increased its stake in 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 last quarter. US Bancorp DE increased its stake in 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 last quarter. Finally, New England Private Wealth Advisors LLC bought a new stake in Energy Transfer Equity, L.P. during the first quarter worth $312,000. Institutional investors own 50.27% of the company’s stock.

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.

Earnings History for Energy Transfer Equity, L.P. (NYSE:ETE)

Receive News & Ratings for Energy Transfer Equity L.P. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Energy Transfer Equity L.P. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply