Energy Transfer Equity L.P. (ETE) has risen sharply, recording gains of 5.97% in the past 4 weeks. However, the stock has corrected -0.48% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 3.4% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.
Energy Transfer Equity L.P. (NYSE:ETE): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $16.20 and $16.08 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $16.66. The buying momentum continued till the end and the stock did not give up its gains. It closed at $16.51, notching a gain of 2.99% for the day. The total traded volume was 7,760,364 . The stock had closed at $16.03 on the previous day.
The stock has recorded a 20-day Moving Average of 2.61% and the 50-Day Moving Average is 14.83%. Energy Transfer Equity, L.P. is up 29.79% in the last 3-month period. Year-to-Date the stock performance stands at 29.9%.
Energy Transfer Equity L.P. (ETE) : The consensus price target for Energy Transfer Equity L.P. (ETE) is $18.14 for the short term with a standard deviation of $6.67. The most optimist securities analyst among the 7 who monitor the stock believes that the stock can reach $29, however, the pessimist price target for the company is $7.
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 Companys 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.