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Energy Transfer to Acquire Crestwood Equity Partners for $7.1 Billion
https://www.dmagazine.com/business-economy/2023/08/energy-transfer-to-acquire-crestwood-equity-partners-for-7-1-billion/
Not a great Quarter, but they cant all be great. If the share price drops enough I will accumulate some more shares. Enough for me is a few more cents.
Energy Transfer Reports Second Quarter 2023 Results
Business Wire
Wed, Aug 2, 2023, 4:10 PM EDT10 min read
In this article:
DALLAS, August 02, 2023--(BUSINESS WIRE)--Energy Transfer LP (NYSE:ET) ("Energy Transfer" or the "Partnership") today reported financial results for the quarter ended June 30, 2023.
Energy Transfer reported net income attributable to partners for the three months ended June 30, 2023 of $911 million. For the three months ended June 30, 2023, net income per common unit (basic) was $0.25 per unit.
Adjusted EBITDA for the three months ended June 30, 2023 was $3.12 billion compared to $3.23 billion for the three months ended June 30, 2022.
Distributable Cash Flow attributable to partners, as adjusted, for the three months ended June 30, 2023 was $1.55 billion compared to $1.88 billion for the three months ended June 30, 2022.
Growth capital expenditures in the second quarter of 2023 were $387 million while maintenance capital expenditures were $216 million.
Operational Highlights
During the second quarter of 2023, Energy Transfer’s assets continued to reach new milestones, with volumes increasing across most segments compared to the same period last year.
NGL fractionation volumes were up 5%, setting a new Partnership record.
NGL transportation volumes were up 13%, setting a new Partnership record.
Midstream gathered volumes increased 8%, setting a new Partnership record.
Intrastate natural gas transportation volumes were up 3%, setting a new Partnership record.
Interstate natural gas transportation volumes were up 17%.
Crude transportation and terminal volumes were up 23% and 15%, respectively.
Total NGL exports out of both the Nederland and Marcus Hook Terminals reached another record in the second quarter.
In June 2023, the 200 MMcf/d Bear cryogenic processing plant, which is located in the Delaware Basin, was placed into service.
Strategic Highlights
In May 2023, the Partnership completed the acquisition of Lotus Midstream Operations, LLC, and integration of operations is ongoing.
In July 2023, Lake Charles LNG entered into three non-binding Heads of Agreements ("HOAs") related to long-term LNG offtake for an aggregate of 3.6 million tonnes per annum.
Financial Highlights
Energy Transfer expects its full-year 2023 Adjusted EBITDA to range between $13.1 billion and $13.4 billion, which is slightly tighter than the previous range ($13.05 billion to $13.45 billion) while keeping the midpoint the same.
In July 2023, Energy Transfer announced a quarterly cash distribution of $0.31 per common unit ($1.24 annualized) for the quarter ended June 30, 2023.
As of June 30, 2023, the Partnership’s revolving credit facility had an aggregate $2.36 billion of available borrowing capacity.
For the three months ended June 30, 2023, the Partnership invested approximately $387 million on growth capital expenditures.
Energy Transfer benefits from a portfolio of assets with exceptional product and geographic diversity. The Partnership’s multiple segments generate high-quality, balanced earnings with no single segment contributing more than 30% of the Partnership’s consolidated Adjusted EBITDA for the three months ended June 30, 2023. The vast majority of the Partnership’s segment margins are fee-based and therefore have limited commodity price sensitivity.
Yes, ET is very undervalued, but we are sitting a lot better than we have been since COVID hit. And, I sure have benefited from the automatic reinvestment of all dividends/distributions here when the shares were down in the mid-single digits for so long after energy shares first tanked.
I would not put a lot of faith in that $20 forecast, but I agree it is currently under valued.
9.65% Dividend/Distribution. ET is still very undervalued here.
ET $20 price forecast. 9% dividend. Managed for growth. I’m in. Great stock to write puts on.
I found the following interesting. "If You’re Not Bullish On Energy Transfer LP (NYSE: ET) Now, You’ll Kick Yourself Later"
https://stocksregister.com/2023/06/07/if-youre-not-bullish-on-energy-transfer-lp-nyse-et-now-youll-kick-yourself-later/
Energy Transfer's Recent $1.45 Billion Deal Won't Be its Last
https://www.fool.com/investing/2023/05/07/energy-transfers-recent-145-billion-deal-wont-be-i/
Yes. Very positive quarterly report from ET
https://finance.yahoo.com/news/energy-transfer-reports-strong-first-201000860.html
Energy Transfer Reports Strong First Quarter 2023 Results and Updates 2023 Outlook
Energy Transfer Announces Increase in Quarterly Cash Distribution
https://finance.yahoo.com/news/energy-transfer-announces-increase-quarterly-201500482.html
Most tax software can import the figures directly from major brokers and insert them into your tax return. I have been doing it for a few years.
No reason to worry whatsoever. Great long-term hold, but just be mindful of the fact that, if you hold this outside of a tax-deferred retirement account the tax filing can get a bit complex as it is still a LP. You timed it perfectly after the big drop right after COVID hit.
Buddy in o/g biz recommended ET late 2020. First couple of buys were at $4.10 or so. Distrib was the insane at that point. Have built a nice position,with avg price iaeound $8.50.
Any reason to worry about this one? I’d love to ride this horse indefinitely.
There is no controversy with this holding wshaw, thus the lack of posting activity. ET is such a tremendous investment there isn't that much to discuss while we continue to bank our 10+% Distributions to add to the rising share price. Of course, for those of us who have automatically reinvested our profitable Distributions for years, including during the COVID period when the share price plummeted, it is even better.
Thanks for the message. I dont know why but folks seem to have lost interest in this message board. I think it is only temporary.
City of Nederland sale of approximately 800 acres for $5.9M leading to “future economic development” Published 6:21 pm Monday, March 27, 2023
Read more at: https://www.panews.com/2023/03/27/city-of-nederland-sale-of-approximately-800-acres-for-5-9m-leading-to-future-economic-development/
And this new deal makes ET even more golden.
Wshaw. just wanted to let you know there is someone reading your post. I wish the board was more active. keep posting and thanks.
I picked up a few more shares today. I cant think of a safer place to pick up a 10+% Divi.
Energy Transfer: Kevin O'Leary Says Energy Looks Golden - I Agree
https://seekingalpha.com/article/4584342-energy-transfer-kevin-oleary-says-energy-looks-golden
https://news.yahoo.com/energy-transfer-lp-nyse-et-214500168.html
Energy Transfer LP (NYSE:ET) Q4 2022 Earnings Call Transcript
"9.5% yield now at recent share price range"That is hard to beat.
9.5% yield now at recent share price range. Can't beat that. And I continue to automatically reinvest all dividends/distributions in new ET shares at no cost to us.
Energy Transfer Announces Increase in Quarterly Cash Distribution
https://ih.advfn.com/stock-market/NYSE/energy-transfer-ET/stock-news/90059597/energy-transfer-announces-increase-in-quarterly-ca
Great news out! ET has returned to its prior level of distributions with this latest increase in the distribution for Q4 2022 to .305 or $1.22 on an annualized basis!
Nice new 52-week high of $12.98 this am. And the gains just keep coming for this high-yielding gem.
https://www.naturalgasintel.com/energy-transfer-cleared-to-start-service-on-gulf-run-pipeline-in-louisiana/
Energy Transfer Cleared to Start Service on Gulf Run Pipeline in Louisiana
Good luck with that. To each their own.
If you trade it in a Roth it certainly does put more money in my pocket. Oh and there are no trading fees also. ching ching
And you dont need a lot of time. There is a trading range that is easy to work.
Exactly, it's why I hold my core position and sell covered calls and naked puts for additional revenue.
This is a MLP and frequent trading creates a nightmare some tax time I only hold energy MLP's in tax deferred retirement accounts.
I rarely swing trade. I dont thave the time for that and short term Capital gains would be a problem for me. "more money" does not always convert to more money ion ones pocket.
You can make more money by swing trading this issue.
ET, EPD, or ENB: Which High-Yield Dividend Stock Will Deliver the Best Returns?
https://www.nasdaq.com/articles/et-epd-or-enb:-which-high-yield-dividend-stock-will-deliver-the-best-returns
I would be very happy with that target, but I believe it to be very optimistic.
WOOHOOOOOO WEEEEEEEEEEEEEEE ET$
Wow the president of the company buys over 16 milloin dollars in shares and no one comments!
That’s my target price for ET$
Where are you seeing a $30 price target for ET? I see price targets well above where ET is trading right now but have not seen one at $30. I would certainly love that, but just not seeing it anywhere.
I will keep adding ET$ WOOHOOOOOO
BUYING BUYING BUYING ET$ $30 TARGET PRICE WOOHOOOOOO
Nice bounce upward AH on positive earnings report and increased guidance going forward.
Earnings due out after the close today. Consensus estimates predict .375/share, which would represent an 87.5% increase over the .20 reported for the comparable year ago quarter. Everything shaping up very positively for ET going forward.
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Energy Transfer is a Texas-based company that began in 1995 as a small intrastate natural gas pipeline operator and is now one of the largest and most diversified investment grade master limited partnerships in the United States. Growing from roughly 200 miles of natural gas pipelines in 2002 to approximately 71,000 miles of natural gas, natural gas liquids (NGLs), refined products, and crude oil pipelines today, the Energy Transfer family of partnerships remains dedicated to providing exceptional service to its customers and attractive returns to its investors.
Through several transformative transactions, we have expanded our scope of services. While we remain committed to the natural gas industry, we enhanced our diversified portfolio of assets by making a strategic entrance into the NGL business through the acquisition of Louis Dreyfus’ NGL storage, fractionation and transportation operations in 2011. In 2012, we acquired Southern Union Company, a leading diversified natural gas company, which expanded our national footprint and added more than 20,000 miles of gathering and transportation pipelines to our portfolio. We made a strong entrance into the crude oil and refined products business by acquiring Sunoco, Inc. in 2012, including its interest in Sunoco Logistics Partners L.P. (NYSE: SXL). We expanded our reach in the refined products and convenience store business with the acquisition of Susser Holdings Corporation, including its interest in Susser Petroleum Partners LP, (now Sunoco LP - NYSE: SUN). These acquisitions, together with our already robust asset base, have enabled Energy Transfer to become a premier provider of services to producers and consumers of natural gas, NGLs, crude oil, and refined products.
Energy Transfer Equity, L.P. (NYSE:ETE) is a master limited partnership which owns the general partner and 100% of the incentive distribution rights (IDRs) of Energy Transfer Partners, L.P. (NYSE:ETP), approximately 23.6 million ETP common units, and approximately 81.0 million ETP Class H Units, which track 90% of the underlying economics of the general partner interest and IDRs of Sunoco Logistics Partners L.P. (NYSE:SXL). On a consolidated basis, ETE's family of companies owns and operates approximately 71,000 miles of natural gas, natural gas liquids, refined products, and crude oil pipelines.
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