Welcome to our dedicated page for Energy Transfer LP Common Units representing partner interests news (Ticker: ET), a resource for investors and traders seeking the latest updates and insights on Energy Transfer LP Common Units representing partner interests stock.
Energy Transfer LP (NYSE: ET) is a leading energy company based in Texas that has grown significantly since its inception in 1995. Originally a small intrastate natural gas pipeline operator, Energy Transfer is now one of the largest and most diversified investment-grade master limited partnerships (MLPs) in the United States. The company has expanded from managing around 200 miles of natural gas pipelines in 2002 to overseeing approximately 71,000 miles of pipelines that transport natural gas, natural gas liquids (NGLs), refined products, and crude oil.
Energy Transfer's expansive portfolio includes significant assets in Texas and the midcontinent region of the U.S. It boasts gathering and processing facilities, as well as one of the largest fractionation facilities in the country. Additionally, the company operates the Lake Charles gas liquefaction facility, playing a crucial role in the energy supply chain from extraction to distribution.
The company's family includes four publicly traded partnerships: Energy Transfer Partners, L.P. (NYSE: ETP), which owns and operates a diverse portfolio of energy assets; Energy Transfer Equity, L.P. (NYSE: ETE), which holds the general partner and 100% of the incentive distribution rights (IDRs) of ETP; and Sunoco Logistics Partners L.P. (NYSE: SXL), which manages a comprehensive logistics business. In October 2018, Energy Transfer successfully merged its publicly traded limited and general partnerships, further streamlining its operations and enhancing its market presence.
Recent achievements illustrate Energy Transfer's strategic growth and operational efficiency. The company recently announced significant acquisitions and divestitures through its subsidiary, Sunoco LP. In April 2024, Sunoco completed the acquisition of liquid fuels terminals from Zenith Energy, while divesting 204 convenience stores to 7-Eleven, Inc. These transactions, valued at approximately $1.0 billion, are expected to be immediately beneficial to unitholders. Additionally, Sunoco's purchase of Zenith Energy Netherlands Amsterdam B.V. enhances its strategic position within Europe's energy market, particularly at the Port of Amsterdam.
Financially, Energy Transfer remains robust. For the first quarter of 2024, net income was reported at $230 million, reflecting a substantial increase from $141 million in the same quarter of 2023. Adjusted EBITDA for the same period was $242 million, signaling steady growth and operational efficiency. The company's leverage ratio and liquidity remain strong, with significant capital expenditures planned to maintain and expand its infrastructure.
Energy Transfer's forward-looking strategy is dedicated to optimizing its portfolio, enhancing operational efficiency, and pursuing growth opportunities. The company's diverse energy infrastructure and strategic acquisitions position it well to meet future energy demands while delivering value to its unitholders.
Sunoco LP (NYSE: SUN) reported a net income of $166 million for Q2 2021, up from $157 million in Q2 2020. Adjusted EBITDA increased to $201 million, driven by higher fuel volume and gross profit, despite lower fuel margins and increased operating expenses. The company sold 1.9 billion gallons of fuel, marking a 28% increase year-over-year. A distribution of $0.8255 per unit was declared, with cash coverage at 1.67 times. SUN executed agreements to acquire terminals for $255.5 million, expected to enhance value for unitholders. Full-year EBITDA outlook remains at $725 to $765 million.
Energy Transfer (NYSE: ET) has joined The Environmental Partnership, a coalition of nearly 100 energy companies focused on enhancing environmental performance. This initiative aims to reduce emissions through advanced technology and best practices. Energy Transfer operates over 90,000 miles of pipelines and plans to increase renewable energy usage, including the Maplewood 2 Solar farm. The company also utilizes Dual Drive compressors to lower emissions. Approximately 20% of their daily energy consumption comes from renewable sources, highlighting their commitment to sustainability.
Sunoco LP (NYSE: SUN) has announced its acquisition of nine refined product terminals for a total of $255.5 million. The acquisitions include terminals from NuStar Energy L.P. and Cato, Incorporated, significantly expanding SUN's midstream operations. This strategic move enhances SUN's fuel distribution capabilities while maintaining its financial leverage targets. The deal is expected to be accretive to unitholders upon closing in Q4 2021. The acquired terminals, primarily located on the East Coast and in the Midwest, have a combined storage capacity of approximately 14.8 million barrels.
Energy Transfer LP (NYSE: ET) announced a quarterly cash distribution of $0.1525 per common unit for Q2 2021, consistent with Q1. The annualized distribution equates to $0.61 and will be paid on August 19, 2021 to unitholders on record as of August 6, 2021. Additionally, the company plans to release its Q2 earnings on August 3, 2021, followed by a conference call at 3:30 PM CT to discuss results. ET operates a diversified portfolio in energy assets across major U.S. production basins.
Energy Transfer LP (ET) has announced quarterly cash distributions for its preferred units, amounting to $0.4609375 for Series C, $0.4765625 for Series D, and $0.4750000 for Series E. These distributions will be paid on August 16, 2021, to unitholders recorded by August 2, 2021. Following the merger with Energy Transfer Operating, L.P., unitholders converted their preferred units to ET units. ET operates a diverse energy asset portfolio, including natural gas midstream and transportation assets, and is publicly traded.
The Republic of Panama and Energy Transfer LP (NYSE: ET) have signed a Memorandum of Understanding (MOU) to study the feasibility of the Trans-Panama Gateway Pipeline project. This non-binding MOU aims to expand Energy Transfer's operations into new markets and positions Panama as a potential distribution center for petroleum products. The project includes constructing terminals on both sides of Panama connected by a pipeline for liquefied petroleum gas (LPG) transportation and export. Final decisions will depend on feasibility studies and economic analyses.
Energy Transfer LP (ET) has priced a public offering of 900,000 of its 6.500% Series H Fixed-Rate Reset Cumulative Redeemable Perpetual Preferred Units at $1,000 each, raising total proceeds of $900 million before expenses. Distributions will be paid semi-annually and will accumulate to November 15, 2026, then vary based on the Five-year U.S. Treasury Rate plus a spread of 5.694%. The offering is expected to close around June 15, 2021, with proceeds directed towards repaying debt and general partnership purposes.
Energy Transfer LP (NYSE:ET) reported record financial results for Q1 2021, with a net income attributable to partners of $3.29 billion, up $4.14 billion year-over-year. Adjusted EBITDA rose to $5.04 billion, compared to $2.64 billion in Q1 2020. Distributable Cash Flow reached $3.91 billion, up from $1.42 billion. The Q1 performance was aided by robust operational management during February's winter storm. The partnership expects full-year Adjusted EBITDA guidance to be revised to $12.9 billion to $13.3 billion, reflecting a significant financial recovery.
Cushing Asset Management and Swank Capital announced a change to The Cushing® 30 MLP Index. Following a merger agreement between Enable Midstream Partners (ENBL) and Energy Transfer (ET), ENBL common units will cease trading by May 10, 2021. A majority of ENBL unitholders have approved the merger. Consequently, Tellurian Inc (TELL) will replace ENBL in the Index after market close on May 7, 2021. The Index tracks 30 midstream energy companies, calculated by S&P Dow Jones Indices.
Cushing Asset Management and Swank Capital announced a change to the Cushing MLP Market Cap Index on April 30, 2021. Enable Midstream Partners (ENBL) and Energy Transfer (ET) have agreed to merge, pending approval from ENBL unitholders. A majority have already consented, allowing the merger to close as early as May 10, 2021. Consequently, ENBL will be replaced by Global Partners (GLP) in the Index after market close on May 7, 2021. No other constituents of the Index will be affected by this change.
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