Simplex Trading Lowers stake in Energy Transfer Equity LP (ETE)

Energy Transfer Equity LP (ETE) : Simplex Trading reduced its stake in Energy Transfer Equity LP by 8.54% during the most recent quarter end. The investment management company now holds a total of 307,677 shares of Energy Transfer Equity LP which is valued at $4,907,448 after selling 28,715 shares in Energy Transfer Equity LP , the firm said in a disclosure report filed with the SEC on Oct 7, 2016.Energy Transfer Equity LP makes up approximately 0.64% of Simplex Trading’s portfolio.

Other Hedge Funds, Including , Chevy Chase Trust Holdings reduced its stake in ETE by selling 400 shares or 0.62% in the most recent quarter. The Hedge Fund company now holds 64,316 shares of ETE which is valued at $1,067,002. Energy Transfer Equity LP makes up approx 0.01% of Chevy Chase Trust Holdings’s portfolio. Washington Trust Bank sold out all of its stake in ETE during the most recent quarter. The investment firm sold 800 shares of ETE which is valued $13,272. Norman Fields Gottscho Capital Management added ETE to its portfolio by purchasing 12,000 company shares during the most recent quarter which is valued at $199,080. Energy Transfer Equity LP makes up approx 0.13% of Norman Fields Gottscho Capital Management’s portfolio.

Energy Transfer Equity LP closed down -0.54 points or -3.27% at $15.95 with 39,37,143 shares getting traded on Friday. Post opening the session at $16.5, the shares hit an intraday low of $15.93 and an intraday high of $16.546 and the price fluctuated in this range throughout the day.Shares ended Friday 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. Mizuho Initiated Energy Transfer Equity LP on Sep 30, 2016 to “Buy”, Price Target of the shares are set at $20.Company shares were Upgraded by Robert W. Baird on Sep 26, 2016 to ” Outperform”, Firm has raised the Price Target to $ 20 from a previous price target of $7 .Energy Transfer Equity LP was Resumed by JP Morgan to “Overweight” on Sep 2, 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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