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Energy Transfer Partners (ETP) Soars: Stock Adds 14% in Session

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Energy Transfer Partners, L.P. was a big mover last session, as the company saw its shares rise 14% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading above the volatile price range of $19.00 to $21.21 in the past one-month time frame.

The move came after the company has agreed to merge with the subsidiary of Energy Transfer Equity, L.P.

The company has not seen any estimate revisions over the past month, while the Zacks Consensus Estimate for the current quarter also remained unchanged. The recent price action is encouraging though, so make sure to keep a close watch on this firm in the near future.

Energy Transfer Partners currently has a Zacks Rank #3 (Hold), while its Earnings ESP is positive.

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