Energy Transfer Equity Reaches New 52-Week High (ETE)

NEW YORK ( TheStreet) -- Energy Transfer Equity (NYSE: ETE) hit a new 52-week high Wednesday as it is currently trading at $63.21, above its previous 52-week high of $63.12 with 582,534 shares traded as of 12:26 p.m. ET. Average volume has been 1.1 million shares over the past 30 days.

Energy Transfer Equity has a market cap of $16.83 billion and is part of the basic materials sector and energy industry. Shares are up 31.8% year to date as of the close of trading on Tuesday.

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.

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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, good cash flow from operations and solid stock price performance. We feel these strengths outweigh the fact that the company has had sub par growth in net income. You can view the full Energy Transfer Equity Ratings Report.

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