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 established a new Alternative Energy Group aimed at enhancing its renewable energy initiatives. Under the leadership of Tom Mason, the group will explore projects including solar and wind farms and renewable diesel and natural gas opportunities. Their first project, the Maplewood 2 Solar Project, is a 28 MW solar facility in West Texas, expected to be operational in Q2. Energy Transfer has significantly reduced greenhouse emissions, notably achieving a reduction of over 632,000 tons of CO2 in 2020 through its innovative technology.
Sunoco LP (NYSE: SUN) has declared a quarterly distribution of $0.8255 per common unit for Q4 2020, equivalent to $3.3020 annually. This distribution will be paid on February 19, 2021, to unitholders of record by February 8, 2021. Additionally, the company will publish its Q4 2020 financial results on February 17, followed by a conference call on February 18 at 8:00 a.m. Central Time. Sunoco operates in fuel distribution across over 30 states, serving thousands of customers.
Energy Transfer LP (NYSE: ET) has declared a quarterly cash distribution of $0.1525 per common unit ($0.61 annualized) for Q4 2020, consistent with Q3 distributions. The payout is set for February 19, 2021, for unitholders recorded by February 8, 2021. Additionally, ET will announce its Q4 and full-year 2020 earnings on February 17, 2021, post-market, followed by a conference call at 4:00 PM CT. The session will offer insights on quarterly performance and an outlook for 2021.
Energy Transfer Operating, L.P. has declared quarterly cash distributions for its preferred units: $0.4609375 for Series C, $0.4765625 for Series D, and $0.4750000 for Series E. These payments are due on February 16, 2021, to unitholders recorded by February 1, 2021. The company operates a vast diversified portfolio of energy assets across key U.S. basins, including natural gas midstream and transportation. It also holds interests in Lake Charles LNG Company and Sunoco LP, among others. For more details, visit energytransfer.com.
Energy Transfer LP (NYSE: ET) has announced the maiden voyage of the Seri Everest, the world’s largest Very Large Ethane Carrier (VLEC). Loaded with over 911,000 barrels of ethane, the vessel departed from Energy Transfer's Nederland Terminal on January 17, 2021, bound for Satellite Petrochemical's ethane cracker in China. This shipment marks the largest single ethane delivery to date. The joint venture with Satellite enables Energy Transfer to leverage significant export capacity, accounting for over 50% of U.S. waterborne exports.
Energy Transfer LP (NYSE: ET) has appointed Bradford D. Whitehurst as Chief Financial Officer, effective immediately. Whitehurst, who has 20 years of experience, previously served as Executive Vice President and Head of Tax. He joined Energy Transfer in 2014 and also manages IT and Business Optimization divisions. Whitehurst is a law graduate from Duke University and has held several leadership roles, including membership in the Investment Committee. Co-CEO Tom Long praised his strategic counsel, highlighting his involvement in significant M&A transactions.
Sunoco LP (NYSE: SUN) announced the early tender results for its cash tender offer for all outstanding 4.875% Senior Notes due 2023. As of November 23, 2020, $563,593,000 of the Notes have been validly tendered. The total consideration for each $1,000 of Notes tendered is $1,017.50, including an early tender payment of $30. The offer expires on December 8, 2020. Payment for accepted Notes is anticipated for November 24, 2020. Credit Suisse and Barclays are the lead dealer managers for the offer.
On November 9, 2020, Sunoco LP (NYSE: SUN) announced the removal of the $500 million cap for its cash tender offer for its 4.875% Senior Notes due 2023. The tender offer will now cover all outstanding notes, funded by proceeds from an upsized senior notes offering of $800 million and borrowings from its credit facility. All other terms of the tender offer remain unchanged. Credit Suisse and Barclays are the lead dealer managers, and the press release emphasizes that it does not constitute a notice of redemption or an offer to buy securities.
Sunoco LP (NYSE: SUN) announced a cash tender offer to buy up to $500 million of its outstanding 4.875% Senior Notes due 2023. The tender offer, which will expire on December 8, 2020, is being funded through a proposed $500 million debt securities offering and cash on hand. Holders can receive up to $1,017.50 for each $1,000 principal amount depending on when they tender their notes. If oversubscribed, purchases will occur on a prorated basis. Conditions apply, and the offer may be extended or terminated.
Sunoco LP (NYSE: SUN) announced a private offering of senior notes totaling $500 million, due in 2029. The funds will be used alongside cash on hand for a tender offer for its existing 4.875% senior notes maturing in 2023. The offering is aimed at qualified institutional buyers under Rule 144A and non-U.S. entities under Regulation S. Notably, the notes are not registered under the Securities Act, which limits their offering in the U.S.
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