2 Sizzling Hot Basic Materials Stocks: Energy Transfer Equity, L.P. (ETE), EQT Corporation (EQT)
Energy Transfer Equity, L.P. (ETE) ended last trading session with a change of 0.97 percent. It trades at an average volume of 5.36M shares versus 2.71M shares recorded at the end of last trading session. The share price of $18.69 is at a distance of 216.67 percent from its 52-week low and down -5.84 percent versus its peak. The company has a market cap of $20.2B and currently has 1.08B shares outstanding. The share price is currently -1.61 percent versus its SMA20, -0.15 percent versus its SMA50, and 14.25 percent versus its SMA200. The stock has a weekly performance of -3.71 percent and is -1.7 percent year-to-date as of the recent close.
February 16, 2017 — Energy Transfer Partners, L.P. (ETP) and Sunoco Logistics Partners L.P. (SXL) announced that they have successfully completed approximately $3.4 billion of committed debt financing and equity transactions, including the project financing for the Dakota Access Pipeline (“DAPL”) and Energy Transfer Crude Oil Pipeline (“ETCOP”) projects (collectively the “Bakken Pipeline”), as well as the closing of the previously announced sale by ETP and SXL of a 36.75% interest in the Bakken Pipeline to MarEn Bakken Company LLC (“MarEn”), an entity jointly owned by MPLX LP and Enbridge Energy Partners, L.P. ETP’s general partner is owned by Energy Transfer Equity, L.P. (ETE).
EQT Corporation (EQT) recently recorded 1.28 percent change and currently at $57.81 is 2.39 percent away from its 52-week low and down -28.19 percent versus its peak. It has a past 5-day performance of -3.79 percent and trades at an average volume of 2.11M shares. The stock has a 1-month performance of -9.27 percent and is -11.56 percent year-to-date as of the recent close. There were about 174.64M shares outstanding which made its market cap $10.1B. The share price is currently -4.84 percent versus its SMA20, -7.36 percent versus its SMA50, and -16.37 percent versus its SMA200.
On March 1, 2017 EQT Corporation (EQT) announced that Steven Schlotterbeck has officially assumed the role of Chief Executive Officer – taking over for David Porges who retired from the position, staying on as Executive Chairman of EQT’s Board of Directors for a period of one year. A similar leadership transition occurred for EQT Midstream Partners, LP (EQM) and EQT GP Holdings, LP (EQGP), where Schlotterbeck also assumed the role of CEO for both companies.