SEC Filing: As Energy Transfer Prtnrs LP (ETP) Market Value Declined, Wexford Capital LP Trimmed by $4.75 Million Its Position

SEC Filing: As Energy Transfer Prtnrs LP (ETP) Market Value Declined, Wexford Capital LP Trimmed by $4.75 Million Its Position

Charles Davidson decreased its stake in Energy Transfer Prtnrs LP (ETP) by 17.02% based on its latest 2016Q3 regulatory filing with the SEC. Wexford Capital Lp sold 131,908 shares as the company’s stock declined 1.75% while stock markets rallied. The hedge fund run by Charles Davidson held 643,030 shares of the natural gas distribution company at the end of 2016Q3, valued at $23.79M, down from 774,938 at the end of the previous reported quarter. Wexford Capital Lp who had been investing in Energy Transfer Prtnrs LP for a number of months, seems to be less bullish one the $19.08 billion market cap company. The stock is up 1.29% or $0.46 hitting $36.07, despite the negative news. About 825,020 shares traded hands. Energy Transfer Partners LP (NYSE:ETP) has declined 7.94% since June 7, 2016 and is downtrending. It has underperformed by 15.36% the S&P500.

Wexford Capital Lp, which manages about $6.34B and $612.99 million US Long portfolio, upped its stake in Aercap Holdings Nv (NYSE:AER) by 97,758 shares to 824,574 shares, valued at $31.74M in 2016Q3, according to the filing. It also increased its holding in Spectra Energy Partners Lp (NYSE:SEP) by 129,193 shares in the quarter, for a total of 335,633 shares, and has risen its stake in Enterprise Prods Partners L (NYSE:EPD).

In 1994, Charles Davidson was the co-founder of Wexford Capital, an asset management firm, and currently supervises the strategic vision of the fund. He serves also for the funds’ Wexford Catalyst and Wexford Spectrum as portfolio manager. Davidson obtained a degree from UCLA (the University of California, Los Angeles), and obtained his M.B.A from the establishment. Wexford runs a few hedge private equity and hedge fund portfolio. The fund runs three hedge fund which uses different opportunities of investment: Wexford Credit Opportunities Fund (Different strategies and credit investment), Wexford Spectrum Fund (opportunity and global strategies), and Wexford Catalyst Fund (Industrials and energy) Wexford Capital Lp is a Connecticut-based hedge fund that was founded by Charles Davidson. It had more than $6.34 billion assets under management in March, 2014. This fund invests only a small percentage of its assets in equities and options. Taken from Wexford Capital latest Adv, the fund reported to have 68 full and part-time employees. Among which 36 performing investment advisory and research functions. The hedge fund had between 11-25 clients.

Insitutional Activity: The institutional sentiment increased to 1.34 in Q3 2016. Its up 0.34, from 1 in 2016Q2. The ratio is positive, as 32 funds sold all ETP shares owned while 122 reduced positions. 64 funds bought stakes while 143 increased positions. They now own 303.56 million shares or 18.40% more from 256.39 million shares in 2016Q2. Fincl Management Incorporated has 1,862 shares for 0.04% of their US portfolio. Valley National Advisers Inc accumulated 584 shares or 0.01% of the stock. Colonial Advsr last reported 0.12% of its portfolio in the stock. Bokf Na last reported 29,955 shares in the company. Moreover, Huntington State Bank has 0.01% invested in Energy Transfer Partners LP (NYSE:ETP) for 8,355 shares. Glenmede Trust Na accumulated 0.04% or 171,649 shares. Mycio Wealth Prns Ltd Llc has invested 0.01% of its portfolio in Energy Transfer Partners LP (NYSE:ETP). Van Eck, a New York-based fund reported 38,240 shares. Driehaus Cap Ltd has 0.15% invested in the company for 119,353 shares. Mcf Advisors Ltd Liability, a Kentucky-based fund reported 9,139 shares. Addison Cap last reported 0.2% of its portfolio in the stock. Hudock Capital Grp Inc Ltd Liability has 3,829 shares for 0.08% of their US portfolio. Whittier Trust Co Of Nevada Incorporated has 0.01% invested in the company for 1,366 shares. Veritable Limited Partnership accumulated 0.26% or 282,226 shares. Northwestern Mutual Wealth Mgmt accumulated 12,955 shares or 0.01% of the stock.

Insider Transactions: Since December 2, 2016, the stock had 1 insider buy, and 0 insider sales for $2,414 net activity. Shares for $2,414 were bought by WARREN KELCY L.

Analysts await Energy Transfer Partners LP (NYSE:ETP) to report earnings on February, 22. They expect $0.26 EPS, up 1,200.00% or $0.24 from last year’s $0.02 per share. ETP’s profit will be $137.53 million for 34.68 P/E if the $0.26 EPS becomes a reality. After $0.14 actual EPS reported by Energy Transfer Partners LP for the previous quarter, Wall Street now forecasts 85.71% EPS growth.

More notable recent Energy Transfer Partners LP (NYSE:ETP) news were published by: Fool.com which released: “Energy Transfer Partners LP Gets a Cash Infusion From Its Parent” on January 09, 2017, also Fool.com with their article: “Will 2017 Be Energy Transfer Partners LP’s Best Year Yet?” published on December 28, 2016, Seekingalpha.com published: “Energy Transfer Saves Its Distribution” on January 10, 2017. More interesting news about Energy Transfer Partners LP (NYSE:ETP) were released by: Fool.com and their article: “If You Love Energy Transfer Partners LP, You Should Check Out MPLX LP” published on December 20, 2016 as well as Wsj.com‘s news article titled: “Blackstone in Talks to Take Stake in Energy Transfer Partners Assets” with publication date: December 22, 2016.

According to Zacks Investment Research, “Energy Transfer Partners, L.P. is a publicly traded partnership owning and operating a diversified portfolio of energy assets. The Partnership’s natural gas operations includes miles of natural gas gathering and transportation pipelines, natural gas treating and processing assets located in Texas and Louisiana, and three natural gas storage facilities located in Texas.”

Energy Transfer Partners LP (NYSE:ETP) Ratings Coverage

Out of 17 analysts covering Energy Transfer Partners (NYSE:ETP), 11 rate it a “Buy”, 0 “Sell”, while 6 “Hold”. This means 65% are positive. Energy Transfer Partners has been the topic of 35 analyst reports since August 10, 2015 according to StockzIntelligence Inc. Robert W. Baird upgraded it to “Outperform” rating and $45 target price in Monday, September 26 report. Goldman Sachs maintained Energy Transfer Partners LP (NYSE:ETP) on Thursday, May 12 with “Neutral” rating. The firm has “Buy” rating given on Monday, May 23 by Goldman Sachs. The stock of Energy Transfer Partners LP (NYSE:ETP) earned “Neutral” rating by Robert W. Baird on Monday, February 8. The stock of Energy Transfer Partners LP (NYSE:ETP) earned “Equal-Weight” rating by Morgan Stanley on Monday, August 15. Stifel Nicolaus upgraded Energy Transfer Partners LP (NYSE:ETP) on Friday, August 5 to “Buy” rating. The rating was downgraded by BMO Capital Markets on Friday, November 25 to “Market Perform”. Evercore initiated the stock with “Buy” rating in Tuesday, October 27 report. The firm earned “Buy” rating on Monday, August 10 by Zacks. The stock has “Overweight” rating given by Barclays Capital on Monday, April 4.

ETP Company Profile

Energy Transfer Partners, L.P. (ETP), incorporated on April 17, 1996, is a master limited partnership. The Firm is engaged in natural gas operations, including natural gas midstream and intrastate transportation and storage through La Grange Acquisition, L.P. (ETC OLP), and interstate natural gas transportation and storage through Energy Transfer Interstate Holdings, LLC (ET Interstate) and Panhandle Eastern Pipe Line Company, LP (Panhandle); liquids operations, including natural gas liquids (NGL) transportation, storage and fractionation services primarily through Lone Star NGL LLC (Lone Star); product and crude oil operations, including product and crude oil transportation, terminalling services, and acquisition and marketing activities through Sunoco Logistics Partners L.P. (Sunoco Logistics) and retail marketing of gasoline and middle distillates through Sunoco, Inc. The Company’s divisions include Intrastate Transportation and Storage Segment; Interstate Transportation and Storage Segment; Midstream Segment; Liquids Transportation and Services Segment; Investment in Sunoco Logistics segment; Retail Marketing Segment, and All Other Segment.

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