Energy Transfer Equity L P shares are currently trading up about 1.5% on the day.

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In Friday trading, Energy Transfer Equity LP shares are currently up about 1% on the day.

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Other competitors in the utilities sector include: Energy Transfer Equity, L.P. (ETE), DCP Midstream Partners (DPM), and Kinder Morgan Energy Partners LP (KMP).

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All three companies under the Energy Transfer Equity umbrella will own more than 44, 000 miles of natural gas pipelines with transportation capacity of approximately 30.7 billion cubic feet per day.

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Energy Transfer is split into two publicly traded entities: Energy Transfer Partners, which holds the assets, and Energy Transfer Equity, which operates ETP for a fee and also holds a 39% share in ETP.

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In our view, a leveraged recapitalization makes no sense and its only purpose would be to put substantial equity stakes into friendly hands to entrench management and transfer effective control without payment of a premium or even, it appears, a shareholder vote.

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