Energy Transfer Equity LP Is a Sell; Strong Momentum from Option Traders


 Energy Transfer Equity LP Is a Sell; Strong Momentum from Option Traders

In today’s session Energy Transfer Equity LP (ETE) recorded an unusually high (1,010) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the October, 2016 put, expecting serious ETE decrease. With 1,010 contracts traded and 20414 open interest for the Oct, 16 contract, it seems this is a quite bearish bet. The option with symbol: ETE161021P00016500 closed last at: $0.55 or 16.7% down. The stock decreased 2.93% or $0.49 on October 4, hitting $16.22. About 2.99 million shares traded hands. Energy Transfer Equity LP (NYSE:ETE) has risen 138.03% since March 1, 2016 and is uptrending. It has outperformed by 128.79% the S&P500.

Analysts await Energy Transfer Equity LP (NYSE:ETE) to report earnings on November, 2. They expect $0.27 EPS, down 3.57% or $0.01 from last year’s $0.28 per share. ETE’s profit will be $280.82 million for 15.02 P/E if the $0.27 EPS becomes a reality. After $0.23 actual EPS reported by Energy Transfer Equity LP for the previous quarter, Wall Street now forecasts 17.39% EPS growth.

Energy Transfer Equity LP (NYSE:ETE) Ratings Coverage

Out of 10 analysts covering Energy Transfer Equity LP (NYSE:ETE), 7 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 70% are positive. $23.0 is the highest target while $7 is the lowest. The $18.43 average target is 13.63% above today’s ($16.22) stock price. Energy Transfer Equity LP has been the topic of 14 analyst reports since October 27, 2015 according to StockzIntelligence Inc. On Monday, September 26 the stock rating was upgraded by Robert W. Baird to “Outperform”. The firm has “Neutral” rating by Robert W. Baird given on Monday, February 8. Morgan Stanley reinitiated the stock with “Overweight” rating in Monday, August 15 report. The stock of Energy Transfer Equity LP (NYSE:ETE) has “Neutral” rating given on Wednesday, July 13 by Goldman Sachs. On Friday, September 2 the stock rating was reinitiated by JP Morgan with “Overweight”. The firm earned “Market Perform” rating on Wednesday, May 11 by Bernstein. Credit Suisse maintained Energy Transfer Equity LP (NYSE:ETE) rating on Tuesday, July 26. Credit Suisse has “Outperform” rating and $20 price target. The company was maintained on Tuesday, March 22 by Jefferies. The rating was initiated by Stephens with “Equal-Weight” on Thursday, September 29. Mizuho initiated the stock with “Buy” rating in Friday, September 30 report.

Insitutional Activity: The institutional sentiment increased to 0.67 in 2016 Q2. Its up 0.01, from 0.66 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.
Gabelli Funds Limited Liability Com, a New York-based fund reported 1.46 million shares. Eagleclaw Cap Managment Ltd Liability Corp has 17,350 shares for 0.16% of their US portfolio. Gsa Capital Prtnrs Llp, a United Kingdom-based fund reported 68,235 shares. Salient Limited, a Texas-based fund reported 13.83M shares. Savings Bank Of Montreal Can last reported 12.63 million shares in the company. Advsr Asset holds 0.01% or 28,310 shares in its portfolio. Northern Trust holds 0% or 660,773 shares in its portfolio. Edgewood Mngmt Ltd Liability holds 0% of its portfolio in Energy Transfer Equity LP (NYSE:ETE) for 19,040 shares. Pinnacle Llc, a Oklahoma-based fund reported 13,142 shares. Cullen Frost Bankers holds 34,949 shares or 0.02% of its portfolio. Wexford Ltd Partnership last reported 300,000 shares in the company. Brown Brothers Harriman has 0% invested in the company for 62,913 shares. Somerset Grp Limited Liability Company owns 32,200 shares or 0.48% of their US portfolio. Cohen Steers accumulated 393,709 shares or 0.01% of the stock. Moreover, Natixis has 0.78% invested in Energy Transfer Equity LP (NYSE:ETE) for 2.92M shares.

Energy Transfer Equity, L.P. 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 has a market cap of $16.87 billion. The Company, through its family of companies, owns and operates over 71,000 miles of natural gas, natural gas liquids (NGL), refined products and crude oil pipelines. It has a 14.79 P/E ratio. 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.

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