Squar Milner Financial Services LLC Invests $371,000 in Energy Transfer Equity LP (ETE)

Squar Milner Financial Services LLC acquired a new position in shares of Energy Transfer Equity LP (NYSE:ETE) during the fourth quarter, HoldingsChannel.com reports. The firm acquired 20,050 shares of the pipeline company’s stock, valued at approximately $371,000.

A number of other hedge funds have also modified their holdings of the business. First Dallas Securities Inc. acquired a new stake in Energy Transfer Equity in the 4th quarter valued at $190,000. Texas Yale Capital Corp. increased its stake in Energy Transfer Equity by 1.4% in the 4th quarter. Texas Yale Capital Corp. now owns 577,960 shares of the pipeline company’s stock valued at $9,976,000 after buying an additional 8,025 shares during the last quarter. Wealthstreet Investment Advisors LLC acquired a new stake in Energy Transfer Equity in the 4th quarter valued at $1,261,000. California Public Employees Retirement System increased its stake in Energy Transfer Equity by 3.1% in the 4th quarter. California Public Employees Retirement System now owns 1,697,200 shares of the pipeline company’s stock valued at $29,294,000 after buying an additional 51,000 shares during the last quarter. Finally, Hodges Capital Management Inc. increased its stake in Energy Transfer Equity by 28.3% in the 4th quarter. Hodges Capital Management Inc. now owns 22,650 shares of the pipeline company’s stock valued at $391,000 after buying an additional 5,000 shares during the last quarter. Hedge funds and other institutional investors own 50.54% of the company’s stock.

ETE has been the topic of several recent research reports. Wolfe Research upgraded shares of Energy Transfer Equity from a “market perform” rating to an “outperform” rating in a research note on Monday, December 18th. Robert W. Baird reiterated a “buy” rating and issued a $24.00 price target on shares of Energy Transfer Equity in a research note on Friday, October 27th. Royal Bank of Canada reiterated a “buy” rating and issued a $22.00 price target on shares of Energy Transfer Equity in a research note on Tuesday, January 16th. Zacks Investment Research upgraded shares of Energy Transfer Equity from a “sell” rating to a “hold” rating in a research note on Tuesday, October 24th. Finally, Mizuho reiterated a “buy” rating and issued a $21.00 price target on shares of Energy Transfer Equity in a research note on Friday, October 20th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $21.70.

Energy Transfer Equity LP (ETE) opened at $17.49 on Thursday. The firm has a market cap of $18,810.00, a PE ratio of 16.76 and a beta of 1.81. Energy Transfer Equity LP has a 52 week low of $15.03 and a 52 week high of $19.82. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.11 and a current ratio of 1.36.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 20th. Stockholders of record on Thursday, February 8th will be paid a dividend of $0.305 per share. The ex-dividend date is Wednesday, February 7th. This is a positive change from Energy Transfer Equity’s previous quarterly dividend of $0.30. This represents a $1.22 annualized dividend and a dividend yield of 6.98%. Energy Transfer Equity’s payout ratio is currently 117.31%.

ILLEGAL ACTIVITY NOTICE: This report was originally posted by Markets Daily and is the sole property of of Markets Daily. If you are accessing this report on another domain, it was illegally copied and reposted in violation of US & international copyright & trademark law. The correct version of this report can be accessed at https://www.themarketsdaily.com/2018/02/15/squar-milner-financial-services-llc-invests-371000-in-energy-transfer-equity-lp-ete.html.

Energy Transfer Equity Profile

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.

Want to see what other hedge funds are holding ETE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Energy Transfer Equity LP (NYSE:ETE).

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

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

Latest News

Leave a Reply