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) 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.
Energy Transfer LP (NYSE: ET) has announced its plan to release earnings for Q2 2024 on August 7, 2024, after market close. The company will also hold an earnings call at 3:30 p.m. Central Time/4:30 p.m. Eastern Time the same day, which will be streamed live on their website and available for replay later. Energy Transfer operates a vast and diverse portfolio of energy assets across the U.S., including more than 125,000 miles of pipelines. The company’s operations span 44 states and major U.S. production basins, offering services in natural gas midstream, transportation, storage, and NGL fractionation. Additionally, Energy Transfer holds substantial general partner and equity interests in Sunoco LP and USA Compression Partners. For more details, visit www.energytransfer.com.
Sunoco LP (NYSE: SUN) will release its second quarter 2024 financial and operating results before the market opens on August 7, 2024. Management will discuss the results in a conference call at 9:00 a.m. CDT (10:00 a.m. EDT) on the same day. Investors can join the call by dialing 877-407-6184 (toll-free) or 201-389-0877. A replay will be available until August 14, 2024, by dialing 877-660-6853 (toll-free) or 201-612-7415 and using conference ID 13747627. Alternatively, investors can access the webcast via Sunoco's Investor Relations website, where a replay will also be available shortly after the call.
Energy Transfer LP (NYSE: ET) has submitted its premerger notification filing under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 for its acquisition of WTG Midstream Holdings. The purchase price for WTG has been adjusted to approximately $3.075 billion, excluding a 20% interest in the BANGL pipeline, which was subject to a right of first offer. The acquisition is expected to close in Q3 2024, pending regulatory approval. Energy Transfer anticipates accretion of $0.04 per common unit in 2025 and $0.07 in 2027. WTG owns the largest private gas gathering and processing business in the Permian Basin. This acquisition will enhance Energy Transfer's access to natural gas and NGL volumes, benefiting their Permian operations and downstream businesses.
Sunoco LP (NYSE: SUN) announced its participation in J.P. Morgan's 2024 Energy, Power, and Renewables Conference, scheduled for June 18, 2024. During this event, Sunoco's management team will engage in meetings with investors. A slide presentation prepared for these meetings is accessible on Sunoco's website under the Investor Relations section.
Energy Transfer (NYSE: ET) has announced the availability of 2023 Schedule K-3s for both Energy Transfer LP and Crestwood Equity Partners LP. These documents, important for international tax reporting, can be accessed online in the investor relations section of the Energy Transfer website. Certain unitholders, including foreign unitholders and those computing a foreign tax credit, may need the detailed information on Schedule K-3 for their tax filings. Unitholders can also request electronic copies via email or by contacting Tax Package Support, available Monday to Friday from 8:00 am to 5:00 pm Central Time. Contact details are provided for different types of unitholders.
Energy Transfer LP (NYSE: ET) has announced the pricing of $3.5 billion in senior notes and $400 million in junior subordinated notes, with the offerings expected to close on June 21, 2024. The senior notes are divided into three tranches: $1 billion at 5.250% due 2029, $1.25 billion at 5.600% due 2034, and $1.25 billion at 6.050% due 2054. The junior subordinated notes are priced at 7.125% due 2054. The company plans to use the net proceeds of $3.463 billion and $396 million, respectively, for funding its acquisition of WTG Midstream Holdings , refinancing existing debt, and other general purposes.
Sunoco LP (NYSE: SUN) and NuStar Energy Partners, L.P. have announced the availability of their 2023 Schedule K-3s, reflecting items of international tax relevance, for online access. This information is important for specific unitholders including foreign unitholders, those computing a foreign tax credit, and certain corporate and partnership unitholders. SUN Common Unitholders can request an electronic copy via email by calling Tax Package Support at (844) 289-8131. NuStar unitholders can also request their Schedule K-3s by contacting Tax Package Support at the provided numbers. For more details, visit the Sunoco LP website.
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