Cushing Asset Management Lp buys $130,520,766 stake in Energy Transfer Equity LP (ETE)

Energy Transfer Equity LP (ETE) : Cushing Asset Management Lp scooped up 736,763 additional shares in Energy Transfer Equity LP during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 7,535,841 shares of Energy Transfer Equity LP which is valued at $130,520,766.Energy Transfer Equity LP makes up approximately 4.90% of Cushing Asset Management Lp’s portfolio.

Other Hedge Funds, Including , Balyasny Asset Management added ETE to its portfolio by purchasing 618,750 company shares during the most recent quarter which is valued at $10,716,750. Energy Transfer Equity LP makes up approx 0.08% of Balyasny Asset Management’s portfolio. Concert Wealth Management added ETE to its portfolio by purchasing 12,322 company shares during the most recent quarter which is valued at $204,422. Energy Transfer Equity LP makes up approx 0.03% of Concert Wealth Management’s portfolio. Tnb Financial added ETE to its portfolio by purchasing 10,300 company shares during the most recent quarter which is valued at $174,997. Energy Transfer Equity LP makes up approx 0.04% of Tnb Financial’s portfolio.V Wealth Managementllc reduced its stake in ETE by selling 1,021 shares or 5.09% in the most recent quarter. The Hedge Fund company now holds 19,032 shares of ETE which is valued at $323,354. Energy Transfer Equity LP makes up approx 0.26% of V Wealth Managementllc’s portfolio.

Energy Transfer Equity LP closed down -0.09 points or -0.50% at $17.81 with 70,01,768 shares getting traded on Thursday. Post opening the session at $17.75, the shares hit an intraday low of $17.67 and an intraday high of $17.97 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, Energy Transfer Equity LP reported $0.30 EPS for the quarter, missing the analyst consensus estimate by $ -0.02 based on the information available during the earnings call on Feb 24, 2016. Analyst had a consensus of $0.32. The company had revenue of $9536.00 million for the quarter, compared to analysts expectations of $12171.78 million. The company’s revenue was down -29.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.21 EPS.

Many Wall Street Analysts have commented on Energy Transfer Equity LP. Energy Transfer Equity LP was Resumed by JP Morgan to “Overweight” on Sep 2, 2016. Energy Transfer Equity LP was Resumed by Morgan Stanley to “Overweight” on Aug 15, 2016. Energy Transfer Equity LP was Resumed by Credit Suisse to “Outperform” on Jul 26, 2016.

Energy Transfer Equity L.P. (ETE) is a limited partnership company. The Company directly and indirectly owns equity interests in Energy Transfer Partners L.P. (ETP) and Regency Energy Partners LP (Regency) both of which are master limited partnerships engaged in diversified energy-related services. Its segments include Investment in ETP including the consolidated operations of ETP and Regency; Investment in Lake Charles LNG including the operations of Lake Charles LNG Company LLC (Lake Charles LNG) and Corporate and Other including the activities of ETE. The Company’s Lake Charles LNG provides terminal services for shippers by receiving liquefied natural gas (LNG) at the facility for storage and delivering such liquefied natural gas (LNG) to shippers. It through ETP operates various brands such as Sunoco Stripes Aplus Aloha Island Mart Exxon Mobil Valero Shell and Chevron. In March 2015 ETE transferred its 45% interest in the Bakken Pipeline project to ETP.

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