Burnham Asset Management Corp Ny buys $4.7 Million stake in Energy Transfer Equity LP (ETE)

Energy Transfer Equity LP (ETE) : Burnham Asset Management Corp Ny scooped up 32,145 additional shares in Energy Transfer Equity LP during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 369,493 shares of Energy Transfer Equity LP which is valued at $4.7 Million.Energy Transfer Equity LP makes up approximately 1.48% of Burnham Asset Management Corp Ny’s portfolio.

Other Hedge Funds, Including , Private Advisor Group boosted its stake in ETE in the latest quarter, The investment management firm added 7,669 additional shares and now holds a total of 69,117 shares of Energy Transfer Equity LP which is valued at $873,639. Energy Transfer Equity LP makes up approx 0.04% of Private Advisor Group’s portfolio. Balentine sold out all of its stake in ETE during the most recent quarter. The investment firm sold 15,287 shares of ETE which is valued $193,228.Bradley Foster Sargent Incct reduced its stake in ETE by selling 4,203 shares or 29.59% in the most recent quarter. The Hedge Fund company now holds 10,000 shares of ETE which is valued at $126,400. Energy Transfer Equity LP makes up approx 0.01% of Bradley Foster Sargent Incct’s portfolio.Biondo Investment Advisors boosted its stake in ETE in the latest quarter, The investment management firm added 12,900 additional shares and now holds a total of 34,100 shares of Energy Transfer Equity LP which is valued at $431,024. Energy Transfer Equity LP makes up approx 0.16% of Biondo Investment Advisors’s portfolio. Allegis Investment Advisors sold out all of its stake in ETE during the most recent quarter. The investment firm sold 8,432 shares of ETE which is valued $106,580.

Energy Transfer Equity LP closed down -1.07 points or -8.77% at $11.13 with 3,77,27,133 shares getting traded on Wednesday. Post opening the session at $12.29, the shares hit an intraday low of $10.63 and an intraday high of $12.39 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

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.

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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