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 (NYSE: ET) has announced a secondary public offering of 38,755,996 common units by WTG Midstream and a Stonepeak affiliate. The Selling Unitholders will receive all proceeds from the offering, with Energy Transfer not selling any units or receiving any proceeds. Barclays is serving as the underwriter for this market-dependent offering. The offering is made under a previously filed registration statement that became effective on July 31, 2024. Interested parties can obtain the prospectus from Barclays Capital Inc. or the SEC's website. This announcement does not constitute an offer to sell or a solicitation to buy securities.
Energy Transfer LP (NYSE:ET) reported strong financial results for Q2 2024, with net income attributable to partners of $1.31 billion and adjusted EBITDA of $3.76 billion, up from $3.12 billion in Q2 2023. The company achieved record-breaking volumes across several segments, including crude oil transportation (up 23%), NGL exports, and NGL transportation. Energy Transfer completed the acquisition of WTG Midstream, adding 6,000 miles of gas gathering pipelines and eight processing plants. The company raised its full-year 2024 Adjusted EBITDA guidance to $15.3-$15.5 billion and increased its quarterly cash distribution to $0.32 per common unit. Energy Transfer also received credit rating upgrades from Moody's, Fitch, and S&P, reflecting improved financial performance.
Sunoco LP (NYSE: SUN) reported record second quarter 2024 financial results, with net income of $501 million and Adjusted EBITDA of $400 million, excluding transaction-related expenses. The company completed the acquisition of NuStar Energy L.P. on May 3, 2024, and the divestiture of 204 convenience stores to 7-Eleven, Inc. on April 16, 2024. Sunoco reaffirmed its full-year 2024 Adjusted EBITDA guidance of $1.46 billion to $1.52 billion, excluding synergies and transaction-related expenses. The company increased NuStar commercial and expense synergies to $200 million and financial synergies to $60 million. Sunoco also formed a joint venture in the Permian Basin with Energy Transfer and entered into an agreement to acquire a liquid fuels terminal in Portland, Maine.
Trace Midstream Partners II, , backed by Quantum Capital Group, has acquired LM Energy Delaware's natural gas gathering and transportation assets in the Northern Delaware Basin. The system, located in Eddy and Lea counties, New Mexico, includes high- and low-pressure gas pipelines with associated infrastructure. Upon completion of ongoing projects, the system will comprise 170 miles of pipeline and 12 compressor stations, with a total design capacity of 650 million cubic feet per day. The acquisition marks Trace's entry into the Northern Delaware Basin, addressing substantial natural gas midstream constraints in the region. The system has over 80,000 dedicated acres and is supported by long-term, fixed-fee contracts from multiple producers.
Energy Transfer LP (NYSE: ET) has announced a 3.2% increase in its quarterly cash distribution to $0.32 per common unit ($1.28 annualized) for Q2 2024. The distribution will be paid on August 19, 2024 to unitholders of record as of August 9, 2024. Energy Transfer plans to release Q2 2024 earnings on August 7, 2024, after market close, followed by a conference call at 3:30 p.m. CT/4:30 p.m. ET.
Energy Transfer operates a diverse portfolio of energy assets in the U.S., including over 130,000 miles of pipeline across 44 states. The company's strategic network spans major U.S. production basins, with operations in natural gas midstream, transportation, storage, crude oil, NGL, and refined product assets.
Sunoco LP (NYSE: SUN) has announced that its Board of Directors has declared a quarterly distribution for the second quarter of 2024. The distribution will be $0.8756 per common unit, which equates to $3.5024 per common unit on an annualized basis. This distribution will be paid on August 19, 2024 to common unitholders of record as of August 9, 2024. The announcement indicates that Sunoco LP is maintaining its quarterly distribution, suggesting stability in its financial position and commitment to returning value to unitholders.
Energy Transfer LP (NYSE: ET) has announced a quarterly cash distribution of $0.2111 per Series I Preferred Unit (NYSE: ETprI). The distribution will be paid on August 14, 2024 to Series I unitholders of record as of the close of business on August 2, 2024.
Energy Transfer LP is a major player in the U.S. energy sector, operating over 130,000 miles of pipeline and associated infrastructure across 44 states. The company's diverse portfolio includes natural gas midstream, transportation and storage assets, as well as crude oil, NGL, and refined product facilities. ET also holds significant stakes in Sunoco LP (NYSE: SUN) and USA Compression Partners, LP (NYSE: USAC).
Energy Transfer LP (NYSE: ET) and Sunoco LP (NYSE: SUN) have announced a strategic joint venture combining their crude oil and produced water gathering assets in the Permian Basin. The joint venture, effective July 1, 2024, will be operated by Energy Transfer with a 67.5% interest, while Sunoco will hold a 32.5% interest.
The venture will operate over 5,000 miles of pipelines with crude oil storage capacity exceeding 11 million barrels. Energy Transfer's long-haul crude pipeline network is excluded from the deal. The formation is expected to be immediately accretive to distributable cash flow per LP unit for both companies.
Energy Transfer LP (NYSE: ET) and Sunoco LP (NYSE: SUN) have announced a strategic joint venture in the Permian Basin, combining their crude oil and produced water gathering assets. The venture, effective July 1, 2024, will be operated by Energy Transfer, holding a 67.5% interest, while Sunoco will hold 32.5%. The joint venture will manage over 5,000 miles of pipelines and 11 million barrels of crude oil storage capacity.
This collaboration is expected to be immediately accretive to distributable cash flow per LP unit for both companies. Energy Transfer's long-haul crude pipeline network is excluded from the joint venture. The deal was facilitated by financial advisors Intrepid Partners, and Guggenheim Securities, , with legal counsel provided by several firms.
Energy Transfer LP (NYSE: ET) has completed its acquisition of WTG Midstream Holdings for $2,275 million in cash and approximately 50.8 million newly issued ET common units. The acquisition expands Energy Transfer's Permian Basin pipeline and processing network, adding about 6,000 miles of gas gathering pipelines in the Midland Basin. The deal includes eight gas processing plants with a 1.3 Bcf/d capacity and two plants under construction. This transaction is expected to provide Energy Transfer with growing NGL and natural gas volumes, increasing revenue from gathering, processing, transportation, and fractionation activities. The company projects the WTG assets to contribute $0.04 of Distributable Cash Flow (DCF) per common unit in 2025, rising to $0.07 per common unit in 2027.
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