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Energy Transfer Equity (ETE) Stock Slides on Q2 Earnings Miss

NEW YORK (TheStreet) -- Shares of Energy Transfer Equity (ETE) are trading lower early Thursday afternoon after reporting 2016 second-quarter earnings that fell short of analysts' estimates.

After yesterday's market close, the Dallas-based pipeline operator reported earnings of 23 cents per common unit, while analysts were looking for earnings of 29 cents per unit.

Revenue fell 19.4% year-over-year to $9.34 billion but topped analysts' expected $8.09 billion.

Energy Transfer terminated its merger agreement with Williams Cos. (WMB) in late June, and investors have been looking to the companies' strategies following the deal's...