5 Stocks Driving The Basic Materials Sector Higher

Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model

Two out of the three major indices are trading lower today with the Dow Jones Industrial Average ( ^DJI) trading down 5 points (0.0%) at 15,100 as of Thursday, May 9, 2013, 12:45 PM ET. The NYSE advances/declines ratio sits at 1,176 issues advancing vs. 1,742 declining with 136 unchanged.

The Basic Materials sector currently sits up 0.2% versus the S&P 500, which is down 0.21. Top gainers within the sector include Apache Corporation ( APA), up 4.2%, CF Industries Holdings ( CF), up 2.8%, Chesapeake Energy ( CHK), up 2.8%, Williams Companies ( WMB), up 2.7% and Energy Transfer Partners L.P ( ETP), up 2.4%. On the negative front, top decliners within the sector include Seadrill ( SDRL), down 2.52, Cenovus Energy ( CVE), down 1.47, Enbridge ( ENB), down 1.34, LyondellBasell Industries ( LYB), down 1.34 and National Oilwell Varco ( NOV), down 0.93.

TheStreet Ratings group would like to highlight 5 stocks pushing the sector higher today:

5. Energy Transfer Equity ( ETE) is one of the companies pushing the Basic Materials sector higher today. As of noon trading, Energy Transfer Equity is up $2.11 (3.56) to $61.46 on heavy volume Thus far, 777,970 shares of Energy Transfer Equity exchanged hands as compared to its average daily volume of 705,100 shares. The stock has ranged in price between $58.48-$62.50 after having opened the day at $59.00 as compared to the previous trading day's close of $59.35.

Energy Transfer Equity, L.P., through its subsidiaries, provides diversified energy-related services in the United States. The company sells natural gas to electric utilities, independent power plants, local distribution companies, industrial end-users, and other marketing companies. Energy Transfer Equity has a market cap of $16.5 billion and is part of the energy industry. The company has a P/E ratio of 50.2, above the S&P 500 P/E ratio of 17.7. Shares are up 30.5% year to date as of the close of trading on Wednesday. Currently there are 5 analysts that rate Energy Transfer Equity a buy, no analysts rate it a sell, and 1 rates it a hold.

TheStreet Ratings rates Energy Transfer Equity as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth and solid stock price performance. We feel these strengths outweigh the fact that the company has had sub par growth in net income. Get the full Energy Transfer Equity Ratings Report now.

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