Shares of Energy Transfer Equity are trading up 1.4% to $47.74 today on above average volume. Approximately 897,000 shares have changed hands today vs. average 30-day volume of 643,000 shares. Spikes in volume can validate a breakout or signify a potential turning point.
Energy Transfer Equity, L.P. owns equity interests in Energy Transfer Partners, a limited partnership involved in the natural gas midstream, transportation, and storage business, as well as a retail propane business.
Potential upside of 6.5% exists for Energy Transfer Equity, based on a current level of $47.74 and analysts' average consensus price target of $50.86. The stock should find initial support at its 50-day moving average (MA) of $44.89 and further support at its 200-day MA of $42.12.
Over the past year, Energy Transfer Equity has traded in a range of $34.00 to $48.05 and is now at $47.74, 40% above that low. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has remained constant.