Energy Transfer Equity, LP (ETE) Set to Announce Earnings on Wednesday
- Author: Zachary Reyes Feb 21, 2017,
Feb 21, 2017, 18:49
Energy Transfer Equity, L.P. (NYSE:ETE) witnessed a decline in the market cap on Friday as its shares dropped 0.31% or 0.06 points. The number of shares now owned by investors are 663.9 mln. Wexford Capital LP owned about 0.18% of Energy Transfer Partners worth $34,102,000 as of its most recent SEC filing. Harvest Fund Advisors LLC raised its stake in Energy Transfer Partners by 20.8% in the second quarter. With the volume soaring to 3,176,534 shares, the last trade was called at $19.06. FineMark National Bank & Trust increased its position in shares of Energy Transfer Partners by 18.6% in the third quarter. Adirondack Trust Co. increased its position in shares of Energy Transfer Partners by 2.2% in the third quarter. Morgan Stanley now owns 17,832,374 shares of the company's stock worth $659,798,000 after buying an additional 1,909,286 shares during the period. Finally, Tower Research Capital LLC TRC boosted its stake in shares of Energy Transfer Partners by 7.4% in the third quarter. Adirondack Trust Co. boosted its stake in shares of Energy Transfer Partners by 2.2% in the third quarter. Atlantic Trust Group LLC now owns 11,576,450 shares of the company's stock worth $440,714,000 after buying an additional 1,374,073 shares during the period.
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Energy Transfer Partners, L.P. (NYSE:ETP) and Sunoco Logistics Partners L.P. (NYSE:SXL) announced that they have successfully completed approximately $3.4 billion of committed debt financing and equity transactions, including the project financing for the Dakota Access Pipeline ("DAPL") and Energy Transfer Crude Oil Pipeline ("ETCOP") projects (collectively the "Bakken Pipeline"), as well as the closing of the previously announced sale by ETP and SXL of a 36.75% interest in the Bakken Pipeline to MarEn Bakken Company LLC ("MarEn"), an entity jointly owned by MPLX LP and Enbridge Energy Partners, L.P.The completion of the project-level financing for the Bakken Pipeline provided Dakota Access, LLC with access to the remaining $1.4 billion of cash proceeds under the previously announced $2.5 billion project financing facility, which Dakota Access will use to fund construction costs for its pipeline project. 1,716,621 shares of the company were exchanged.
Energy Transfer Partners, L.P. (NYSE:ETP) is trading up 76.41% versus 12-month low of 21.72 and stands -6.63% lower from its 1-year peak of $41.04. There were about 1.05B shares outstanding which made its market cap $20.02B. The company has a 50 day moving average price of $37.57 and a 200-day moving average price of $37.35.
The business also recently declared a quarterly dividend, which was paid on Tuesday, February 14th. This represents a $4.22 annualized dividend and a dividend yield of 11.01%. The ex-dividend date is Friday, February 3rd. Energy Transfer Partners's payout ratio is presently -345.90%.
Energy Transfer Equity, L.P. (ETE) directly and indirectly owns equity interests in Energy Transfer Partners, L.P. (ETP) and SUN LP, which are engaged in diversified energy-related services. If you are viewing this piece of content on another site, it was copied illegally and reposted in violation of global trademark and copyright legislation.
Other research analysts have also issued research reports about the company. BMO Capital Markets lowered Energy Transfer Partners from an outperform rating to a market perform rating in a research report on Wednesday, November 23rd. Vetr lowered shares of Energy Transfer Partners from a "hold" rating to a "sell" rating and set a $33.67 target price for the company.in a research report on Monday, December 12th. Mizuho restated a "buy" rating on shares of Energy Transfer Equity, L.P.in a report on Monday, December 26th. Sanford C. Bernstein cut shares of Energy Transfer Equity, L.P. from an "outperform" rating to a "mkt perform" rating in a report on Tuesday, January 10th. The stock now has a consensus rating of Hold and a consensus target price of $42.52. Therefore, the stated figure displays a quarterly performance of 4.62% and year to date performance of 9.96%. The shares were bought at an average price of $35.65 per share, with a total value of $111,548.85.