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 $100 million for Q3 2020, up from $66 million in Q3 2019. Adjusted EBITDA was $189 million, slightly down from $192 million year-over-year. The Partnership sold 1.9 billion gallons, a 12% decline from last year, but reported improved fuel margins of 12.1 cents per gallon. A distribution of $0.8255 per unit was declared for Q3 2020, payable on November 19, 2020. SUN maintained liquidity of $1.4 billion and a leverage ratio of 3.93 times. Full-year adjusted EBITDA is expected to exceed $740 million.
Energy Transfer LP (NYSE:ET) reported a net loss of $782 million for Q3 2020, including non-cash impairments of $1.6 billion. Adjusted EBITDA rose to $2.87 billion, up from $2.81 billion in Q3 2019, driven by record performance in its NGL and refined products segment. Distributable Cash Flow climbed to $1.69 billion, reflecting improved operational efficiency and reduced capital expenditures. ET expects to invest under $3.3 billion for 2020, exceeding previous forecasts. The partnership's quarterly distribution was set at $0.1525 per unit, maintaining a distribution coverage ratio of 4.10x.
Canadian Solar announced its subsidiary, Recurrent Energy, has begun constructing the 28 MWac Maplewood 2 Solar Project in Texas for Energy Transfer (NYSE: ET). This project includes a 15-year Power Purchase Agreement, marking Energy Transfer's first dedicated solar contract. The project contributes to Canadian Solar's total of over 385 MWac of solar projects in Texas. Expected operational start is Q1 2021. This collaboration underscores a commitment to renewable energy amidst a diverse energy landscape in Texas.
Energy Transfer LP (NYSE:ET) released its 2019 Community Engagement Report, detailing operational results across its business segments, pipeline safety programs, risk management, and emissions reduction efforts. The report emphasizes stakeholder outreach and community investments driven by over 10,000 employees committed to safety. Energy Transfer operates more than 90,000 miles of pipelines across 38 states and Canada, moving approximately 30% of the nation's natural gas and oil.
Sunoco LP (NYSE: SUN) has appointed Dylan Bramhall as Chief Financial Officer, effective immediately. Bramhall, with over 14 years of experience, previously served as Senior VP of Finance and Treasurer at Energy Transfer (NYSE: ET). His responsibilities included oversight of financial planning and risk management. President & CEO Joe Kim expressed confidence in Bramhall's ability to strengthen Sunoco’s financial foundation. Sunoco operates a broad distribution network and is a subsidiary of Energy Transfer, which emphasizes its substantial market presence in fuel distribution across over 30 states.
Sunoco LP (NYSE: SUN) announced a quarterly distribution of $0.8255 per common unit for Q3 2020, equating to $3.3020 annualized. This payment is scheduled for November 19, 2020, to unitholders recorded by November 6, 2020. The company will disclose its Q3 financial and operational results post-market on November 4, 2020, followed by a conference call on November 5, 2020, at 8:00 a.m. CT. Sunoco operates in fuel distribution across over 30 states, serving around 10,000 retail locations.
Energy Transfer LP (NYSE: ET) announced a quarterly cash distribution of $0.1525 per common unit for Q3 2020, translating to $0.61 annually. This distribution will be paid on November 19, 2020, to unitholders of record by November 6, 2020. The company will release its earnings on November 4, 2020, and hold a conference call at 4:00 p.m. CT to discuss quarterly results and provide updates. Energy Transfer operates a diversified portfolio of energy assets across the U.S., including natural gas and crude oil operations.
Energy Transfer Operating, L.P. has announced quarterly cash distributions for its preferred units: $0.4609375 for Series C, $0.4765625 for Series D, and $0.4750000 for Series E. These distributions will be paid on November 16, 2020, to unitholders of record as of November 2, 2020. The company operates a diverse portfolio of energy assets across the United States. It also owns interests in Lake Charles LNG Company, Sunoco LP, and USA Compression Partners, LP. The press release includes forward-looking statements and cautions about risks related to commodity prices and the COVID-19 pandemic.
Energy Transfer LP (NYSE: ET) has appointed long-time executives Mackie McCrea and Tom Long as Co-CEOs, effective January 1, 2021. Co-founder Kelcy Warren remains as Executive Chairman, continuing to influence the company’s strategic vision. McCrea brings extensive leadership experience since joining in 1997, while Long has served as CFO since 2016. The leadership transition aims to maintain the company’s success and growth in the energy sector, where it operates one of the largest and most diversified asset portfolios in the U.S.
Sunoco LP (NYSE: SUN) reported strong financial results for Q2 2020, achieving a net income of $157 million, up from $55 million in Q2 2019. This increase was aided by a $90 million non-cash inventory adjustment due to rising RBOB prices. Adjusted EBITDA rose to $182 million from $152 million a year ago, driven by improved fuel margins of 13.5 cents per gallon and reduced operating expenses of $97 million. Despite a 26.3% decline in fuel sales volume to 1.5 billion gallons, the Partnership declared a distribution of $0.8255 per unit and maintained solid liquidity of $1.3 billion.
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