Energy Transfer Equity L.P. (ETE) : Traders are bullish on Energy Transfer Equity L.P. (ETE) as it has outperformed the S&P 500 by a wide margin of 6.59% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 4.19%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 4.16% in the last 1 week, and is up 7% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Energy Transfer Equity, L.P. is up 43.59% in the last 3-month period. Year-to-Date the stock performance stands at 41.94%. The stock has recorded a 20-day Moving Average of 8.22% and the 50-Day Moving Average is 17.99%.
Energy Transfer Equity L.P. (NYSE:ETE): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $18.02 and $17.80 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $18.12. The buying momentum continued till the end and the stock did not give up its gains. It closed at $18.04, notching a gain of 0.11% for the day. The total traded volume was 3,671,098 . The stock had closed at $18.02 on the previous day.
Also, In the latest statement by the brokerage house, Morgan Stanley assumes its outlook on Energy Transfer Equity L.P. (NYSE:ETE). The current rating of the shares is Overweight, according to the research report released by the firm. The brokerage firm announces the price target at $20 per share. The rating by the firm was issued on August 15, 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 Companys 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.