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.
Energy Transfer LP (ET) announced quarterly cash distributions of $0.4609375 for Series C, $0.4765625 for Series D, and $0.4750000 for Series E Preferred Units. Payments will occur on May 17, 2021, for unitholders as of May 3, 2021. Following the merger with Energy Transfer Operating, L.P., existing preferred units were converted into new ET preferred units. ET operates a diverse portfolio of energy assets across the U.S., including natural gas and crude oil transportation and storage, and has significant investments in Lake Charles LNG and Sunoco LP.
Energy Transfer (NYSE:ET) celebrates its 25th anniversary as a leading midstream energy provider, boasting over 90,000 miles of pipeline across 38 states and Canada. Founded on April 17, 1996, by Kelcy Warren and Ray Davis, the company has evolved from a small intrastate pipeline business to a Fortune 500 powerhouse, now ranked 59th. Through strategic acquisitions and growth projects, Energy Transfer has diversified its operations beyond natural gas to include crude oil, NGLs, and LNG. The company is recognized for its significant infrastructure milestones in the energy sector.
Energy Transfer (NYSE: ET) and Enable Midstream (NYSE: ENBL) announced the approval of their merger by the two largest Enable unitholders, CenterPoint Energy and OGE Energy, which collectively hold approximately 79% of Enable's common units. While these consents suffice for the merger, Enable is seeking additional approval from all common unitholders. The deal is expected to close in mid-2021, pending standard closing conditions, including regulatory clearance.
Energy Transfer LP (NYSE: ET) and Centurion Pipeline L.P. have announced a joint tariff for crude oil transportation from ET’s terminals in Platteville, Colorado, and Cushing, Oklahoma, to the Nederland, Texas terminal. The service will use existing pipeline assets and is set to begin by June 1, 2021. Potential expansion to include Guernsey, Wyoming, is also mentioned.
Sunoco LP (NYSE: SUN) announced the filing of its 2020 Annual Report on Form 10-K on February 19, 2021, with the SEC. The report includes audited financial statements for the fiscal year ending December 31, 2020. Sunoco distributes motor fuel to approximately 10,000 convenience stores and other customers in over 30 states. Shareholders may request a printed version of the report free of charge by contacting the Investor Relations team.
Energy Transfer LP (NYSE: ET) and Energy Transfer Operating, L.P. have filed their annual reports on Form 10-K for the year ending December 31, 2020, with the SEC. These reports are accessible on their website, www.energytransfer.com, alongside other SEC filings. The documents include audited financial statements, available in printed form upon request. Energy Transfer LP owns a diverse energy asset portfolio across major U.S. production basins, focusing on natural gas, crude oil, and NGL operations.
Sunoco LP (SUN) reported its financial results for Q4 and the full year 2020, with net income of $83 million for Q4, unchanged from Q4 2019. Adjusted EBITDA for Q4 was $159 million, down from $168 million. Full-year net income fell to $212 million from $313 million in 2019. However, adjusted EBITDA increased to $739 million, up 11% year-over-year. Fuel volume sold decreased by 12% to 1.8 billion gallons in Q4, with a fuel margin of 9.2 cents per gallon. The Partnership announced a distribution of $0.8255 per unit for Q4 2020, payable on February 19, 2021.
Energy Transfer LP (NYSE:ET) announced its financial results for Q4 and FY 2020, reporting net income attributable to partners of $509 million and an adjusted EBITDA of $2.59 billion for the quarter. The partnership's distributable cash flow stood at $1.36 billion. Notably, ET executed key operational expansions, including the loading of the world's largest Very Large Ethane Carrier. Financially, ET aims for 2021 adjusted EBITDA in the range of $10.6 billion to $11.0 billion and announced a quarterly distribution of $0.1525 per unit.
OGE Energy Corp. supports the merger between Energy Transfer LP and Enable Midstream Partners LP, enhancing its position as a pure-play electric utility. The merger will allow OGE to exit its midstream investment and focus on its electric infrastructure, with expectations of increased liquidity and shareholder value. Energy Transfer will acquire Enable's LP units at a 0.8595x exchange ratio, and OGE will receive $30 million from CenterPoint Energy. Financial details will be discussed in an upcoming earnings call on February 25, 2021.
Energy Transfer LP (ET) has announced a definitive merger agreement to acquire Enable Midstream Partners, LP (ENBL) in an all-equity transaction valued at approximately $7.2 billion. Unitholders of Enable will receive 0.8595 ET common units for each Enable common unit, maintaining an at-the-market transaction price. The merger is expected to enhance Energy Transfer's asset footprint, particularly in the NGL sector, and is projected to be immediately accretive to free cash flow. The transaction has received board approvals and is expected to close by mid-2021.
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