Energy Transfer Equity, L.P. (NYSE:ETE) was in 12 hedge funds’ portfolio at the end of December. ETE has seen a decrease in support from the world’s most elite money managers of late. There were 12 hedge funds in our database with ETE holdings at the end of the previous quarter.
Credit: Energy Transfer Equity, L.P. (NYSE:ETE)
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With all of this in mind, let’s take a look at the recent action surrounding Energy Transfer Equity, L.P. (NYSE:ETE).
What have hedge funds been doing with Energy Transfer Equity, L.P. (NYSE:ETE)?
In preparation for this year, a total of 12 of the hedge funds we track held long positions in this stock, a change of 0% from one quarter earlier. With hedgies’ capital changing hands, there exists a select group of key hedge fund managers who were increasing their stakes significantly.
Of the funds we track, Kenneth Mario Garschina’s Mason Capital Management had the largest position in Energy Transfer Equity, L.P. (NYSE:ETE), worth close to $370.6 million, accounting for 5.3% of its total 13F portfolio. On Mason Capital Management’s heels is OZ Management, managed by Daniel S. Och, which held a $99.2 million position; 0.4% of its 13F portfolio is allocated to the company. Other hedge funds that are bullish include Sean Cullinan’s Point State Capital, Chuck Royce’s Royce & Associates and Jean-Marie Eveillard’s First Eagle Investment Management.
Seeing as Energy Transfer Equity, L.P. (NYSE:ETE) has faced a declination in interest from the smart money, it’s safe to say that there is a sect of funds who were dropping their positions entirely in Q4. It’s worth mentioning that Sander Gerber’s Hudson Bay Capital Management dropped the biggest position of the 450+ funds we key on, worth an estimated $9 million in call options, and Curtis Schenker and Craig Effron of Scoggin was right behind this move, as the fund sold off about $6.1 million worth. These transactions are intriguing to say the least, as total hedge fund interest stayed the same (this is a bearish signal in our experience).
How are insiders trading Energy Transfer Equity, L.P. (NYSE:ETE)?
Insider purchases made by high-level executives is particularly usable when the company we’re looking at has experienced transactions within the past six months. Over the latest 180-day time period, Energy Transfer Equity, L.P. (NYSE:ETE) has experienced 1 unique insiders buying, and zero insider sales (see the details of insider trades here).
Let’s also take a look at hedge fund and insider activity in other stocks similar to Energy Transfer Equity, L.P. (NYSE:ETE). These stocks are Magellan Midstream Partners, L.P. (NYSE:MMP), Oneok Partners LP (NYSE:OKS), Spectra Energy Corp. (NYSE:SE), Plains All American Pipeline, L.P. (NYSE:PAA), and Energy Transfer Partners LP (NYSE:ETP). This group of stocks are in the oil & gas pipelines industry and their market caps match ETE’s market cap.