Price Action Report: What’s Next for Energy Transfer Equity LP After Making 52-Week High?

Price Action Report: What's Next for Energy Transfer Equity LP After Making 52 Week High?

The stock of Energy Transfer Equity LP (NYSE:ETE) hit a new 52-week high and has $27.67 target or 55.00% above today’s $17.85 share price. The 9 months bullish chart indicates low risk for the $19.71 billion company. The 1-year high was reported on Nov, 21 by Barchart.com. If the $27.67 price target is reached, the company will be worth $10.84 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 10.46M shares traded hands or 76.99% up from the average. Energy Transfer Equity LP (NYSE:ETE) has risen 67.38% since April 19, 2016 and is uptrending. It has outperformed by 63.52% the S&P500.

Energy Transfer Equity LP (NYSE:ETE) Ratings Coverage

Out of 10 analysts covering Energy Transfer Equity LP (NYSE:ETE), 8 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 80% are positive. Energy Transfer Equity LP has been the topic of 15 analyst reports since October 27, 2015 according to StockzIntelligence Inc. The firm has “Equal-Weight” rating by Stephens given on Thursday, September 29. Mizuho initiated it with “Buy” rating and $20 target price in Friday, September 30 report. As per Tuesday, November 8, the company rating was upgraded by Bernstein. The firm earned “Overweight” rating on Friday, September 2 by JP Morgan. The firm has “Market Perform” rating given on Wednesday, May 11 by Bernstein. The stock has “Neutral” rating given by Goldman Sachs on Wednesday, July 13. The stock of Energy Transfer Equity LP (NYSE:ETE) earned “Outperform” rating by Credit Suisse on Tuesday, July 26. The firm has “Outperform” rating by Robert W. Baird given on Monday, September 26. Evercore initiated the shares of ETE in a report on Tuesday, October 27 with “Buy” rating. The firm has “Buy” rating by Jefferies given on Wednesday, June 8.

According to Zacks Investment Research, “Energy Transfer Equity, L.P. owns a diversified portfolio of energy assets, including natural gas operations consisting miles of natural gas gathering and transportation pipelines, natural gas treating and processing assets located in Texas and Louisiana, and three natural gas storage facilities located in Texas.”

Insitutional Activity: The institutional sentiment increased to 0.95 in Q2 2016. Its up 0.28, from 0.67 in 2016Q1. The ratio improved, as 52 funds sold all Energy Transfer Equity LP shares owned while 111 reduced positions. 38 funds bought stakes while 71 increased positions. They now own 419.54 million shares or 8.98% less from 460.95 million shares in 2016Q1.
Sumitomo Mitsui Holding owns 764,000 shares or 0.02% of their US portfolio. Hallmark Capital Incorporated last reported 0% of its portfolio in the stock. Oppenheimer Co Inc holds 0.02% of its portfolio in Energy Transfer Equity LP (NYSE:ETE) for 51,212 shares. The New York-based Millennium Mgmt Ltd Liability has invested 0.02% in Energy Transfer Equity LP (NYSE:ETE). Manufacturers Life Company The last reported 0% of its portfolio in the stock. Alliancebernstein L P owns 148,769 shares or 0% of their US portfolio. Fmr Lc last reported 0.05% of its portfolio in the stock. Community National Bank Na reported 700 shares or 0% of all its holdings. Moreover, Parkside Retail Bank And Tru has 0.2% invested in Energy Transfer Equity LP (NYSE:ETE) for 29,185 shares. Evanson Asset Management Ltd Liability has invested 0.24% of its portfolio in Energy Transfer Equity LP (NYSE:ETE). First Trust has 0.04% invested in the company for 17,046 shares. Salem Investment Counselors Inc last reported 0.1% of its portfolio in the stock. Signature Fincl Mgmt reported 42,816 shares or 0.29% of all its holdings. Marshall Wace Llp holds 0.01% or 64,790 shares in its portfolio. Arcadia Inv Mngmt Mi reported 96 shares or 0% of all its holdings.

More news for Energy Transfer Equity LP (NYSE:ETE) were recently published by: Wsj.com, which released: “¬∑Energy Transfer Equity, Energy Transfer Partners Post Weaker Results” on November 09, 2016. Nasdaq.com‘s article titled: “Energy Transfer Equity, L.P. (ETE) Ex-Dividend Date Scheduled for November 03 …” and published on November 02, 2016 is yet another important article.

ETE Company Profile

Energy Transfer Equity, L.P. (ETE), incorporated on August 23, 2005, directly and indirectly owns equity interests in Energy Transfer Partners, L.P. (ETP) and SUN LP, which are engaged in diversified energy-related services. The Company, through its family of companies owns and operates approximately 71,000 miles of natural gas, natural gas liquids (NGL), refined products and crude oil pipelines. The Company’s divisions include Investment in ETP, including the consolidated activities of ETP; Investment in Sunoco LP, including the consolidated activities of Sunoco LP; Investment in Lake Charles LNG, including the activities of Lake Charles LNG, and Corporate and Other. The Company’s subsidiaries include ETP, Energy Transfer Partners GP, L.P. (ETP GP), Energy Transfer Partners, L.L.C. (ETP LLC), Panhandle Eastern Pipe Line Company, LP and its subsidiaries (Panhandle), Sunoco Logistics Partners L.P. (Sunoco Logistics), Sunoco LP, Lake Charles LNG Company, LLC (Lake Charles LNG) and ETP Holdco Corporation (ETP Holdco).

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Leave a Comment