Energy Transfer Equity, L.P. (ETE) was a big mover last session, as the company saw its shares rise slightly over 7% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This reverses the recent trend of the company, as the stock is now trading above the volatile price range of $50.68 to $54.79 in the past one-month time frame.
The company has seen one negative revision in the past 30 days, while its Zacks Consensus Estimate moved lower over the same time frame, suggesting there may be trouble down the road. So make sure to keep an eye on this stock going forward to see if yesterday’s move higher can last.
Energy Transfer Equity currently has a Zacks Rank #3 (Hold) while its Earnings ESP is 0.00%.
Some better-ranked stocks from the oil and gas pipeline industry include Boardwalk Pipeline Partners, LP (BWP), Delek Logistics Partners, LP (DKL) and Magellan Midstream Partners LP (MMP). All these stocks sport a Zacks Rank #1 (Strong Buy).
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