Energy Transfer Equity LP(NYSE:ETE) announced the earnings results for Fiscal Year 2016 and Q4. The results came in during After-Market on Feb 22, 2017. Based on the corporate Earnings and Guidance, many Investment Banking firms balance their portfolio to Sell and Buy Stocks based on their strategy of investing in stocks.Company reported revenue of $10.803B. Analysts estimated a revenue of $9.660B. The revenues were 11.83% above the estimates. Earnings per share were $0.21. The reported EPS was below estimates by -16%. Analysts had estimated an EPS of $0.25.
In a different note, On Jan 9, 2017, Bernstein said it Downgrades its rating on Energy Transfer Equity LP. The shares have been rated ‘Market Perform’ by the firm.
Energy Transfer Equity LP (ETE) shares turned negative on Wednesdays trading session with the shares closing down -0.13 points or -0.68% at a volume of 29,47,326. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $19.0399. The peak price level was also seen at $19.0399 while the days lowest was $18.79. Finally the shares closed at $18.92. The 52-week high of the shares is $20.05 while the 52-week low is $5.94. According to the latest information available, the market cap of the company is $19,809 M.
Several Insider Transactions has been reported to the SEC. On Dec 8, 2015, John W Mcreynolds (President) purchased 84,667 shares at $16.14 per share price.Also, On Dec 8, 2015, K Rick Turner (director) purchased 5,000 shares at $12.90 per share price.On Dec 7, 2015, Kelcy L Warren (director 10% owner) purchased 2,000,000 shares at $16.11 per share price, according to the Form-4 filing with the securities and exchange commission.
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.