Energy Transfer Equity LP, the Dallas pipeline conglomerate that's agreed to buy Williams Cos., fell 42 percent Monday after announcing the replacement of its chief financial officer amid investor concern that the deal is in trouble.
Energy Transfer Equity (NYSE:ETE) has grown its distribution for 13 straight quarters. It's a trend the company doesn't expect will end in 2016, with it projecting to grow its payout by a 21% compound annual rate from 2015 through 2017.
It took a lot of persistence and near perfect timing, but Energy Transfer Equity (NYSE:ETE) pulled off what could go down as one of the best energy mergers in 2015 after agreeing to acquire Williams Companies (NYSE:WMB).
We rate ENERGY TRANSFER EQUITY LP as a Hold with a ratings score of C. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive ...
While the market didn't close at its lows for the day, there's no denying that the Federal Reserve took a toll on stocks this afternoon by virtue of its decision to hold interest rates steady, and then alluding to economic weakness.