Cumberland Advisors Inc Exits Position in Energy Transfer Equity LP (ETE)

Energy Transfer Equity LP (ETE) : Cumberland Advisors Inc has sold out all of its stake in Energy Transfer Equity LP during the most recent quarter, according to the disclosure filed by the company on Apr 11, 2016 with the SEC. The investment management company has sold out 750 shares of Energy Transfer Equity LP which is valued at $6,713.

Energy Transfer Equity LP closed down -0.4 points or -4.28% at $8.95 with 1,29,69,877 shares getting traded on Friday. Post opening the session at $9.06, the shares hit an intraday low of $8.94 and an intraday high of $9.28 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

Other Hedge Funds, Including , Grassi Investment Management boosted its stake in ETE in the latest quarter, The investment management firm added 7,850 additional shares and now holds a total of 256,250 shares of Energy Transfer Equity LP which is valued at $2,293,438. Energy Transfer Equity LP makes up approx 0.45% of Grassi Investment Management’s portfolio.Mai Capital Management boosted its stake in ETE in the latest quarter, The investment management firm added 82,419 additional shares and now holds a total of 573,812 shares of Energy Transfer Equity LP which is valued at $4,900,354. Energy Transfer Equity LP makes up approx 0.40% of Mai Capital Management’s portfolio.Creative Planning boosted its stake in ETE in the latest quarter, The investment management firm added 13,190 additional shares and now holds a total of 91,964 shares of Energy Transfer Equity LP which is valued at $785,373. Energy Transfer Equity LP makes up approx 0.01% of Creative Planning’s portfolio.Catawba Capital Management Va reduced its stake in ETE by selling 1,800 shares or 6.99% in the most recent quarter. The Hedge Fund company now holds 23,960 shares of ETE which is valued at $204,618. Energy Transfer Equity LP makes up approx 0.05% of Catawba Capital Management Va’s portfolio.Hollencrest Securities reduced its stake in ETE by selling 5,527 shares or 5.32% in the most recent quarter. The Hedge Fund company now holds 98,313 shares of ETE which is valued at $839,593. Energy Transfer Equity LP makes up approx 0.15% of Hollencrest Securities’s portfolio.

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. Energy Transfer Equity LP was Downgraded by Raymond James to ” Mkt Perform” on Feb 29, 2016. Energy Transfer Equity LP was Downgraded by BofA/Merrill to ” Neutral” on Feb 17, 2016. Shares were Downgraded by Robert W. Baird on Feb 8, 2016 to ” Neutral” and Lowered the Price Target to $ 7 from a previous price target of $30 .

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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