|Bid||5.37 x 1200|
|Ask||5.45 x 2900|
|Day's range||5.06 - 5.69|
|52-week range||3.75 - 15.87|
|Beta (5Y monthly)||1.55|
|PE ratio (TTM)||4.02|
|Earnings date||10 May 2020|
|Forward dividend & yield||1.22 (23.37%)|
|Ex-dividend date||05 May 2020|
|1y target est||13.86|
Energy Transfer LP (NYSE: ET) today announced a quarterly cash distribution of $0.305 per ET common unit ($1.22 on an annualized basis) for the first quarter ended March 31, 2020. This cash distribution is supported by the company’s underlying long-term stable cash flows. Energy Transfer benefits from a fully-integrated business with a diverse mix of earnings, generated by providing midstream services from the well-head to the market. The announced quarterly distribution is consistent with the distribution for the fourth quarter of 2019 and will be paid on May 19, 2020 to unitholders of record as of the close of business on May 7, 2020.
The Lake Charles, Louisiana, facility is one of several LNG export projects worldwide that have been delayed in recent months by the collapse in global energy prices. The crash in oil and gas prices has caused major LNG exporters like Qatar and oil giant Exxon Mobil Corp , however, to put off gigantic new facilities or expansions of existing projects. U.S. gas prices have recently dropped to their lowest since 1995.
Energy Transfer LP (NYSE: ET) announced today that it will take over development of the Lake Charles LNG export project following Shell’s announcement that it has decided not to proceed with an equity investment in the project. Shell advised Energy Transfer that its decision was made in light of current market conditions. Energy Transfer will take over the role of lead project developer and will continue the development of the project. In this regard, Energy Transfer will evaluate various alternatives to advance the project, including the possibility of bringing in one or more equity partners and reducing the size of the project from three trains (16.45 mtpa of LNG capacity) to two trains (11.0 mtpa).
Pipeline Master Limited Partnerships were once some of Wall Street’s favorite energy money-makers, but they’ve become risky as oil prices have tanked
(Bloomberg) -- Shale insiders are swooping in to buy stock in their ailing firms this week after an oil price war erupted between Saudi Arabia and Russia late Sunday.The purchases come as many shares are trading at record lows, and companies have responded by slashing capital spending and operating costs to protect their balance sheets in the midst of weak crude oil prices.Ray Davis, Energy Transfer LP board member and co-owner of Major League Baseball’s Texas Rangers, scooped up 1.28 million shares in the pipeline company at an average price of $7.77 on March 9, according to a filing. The Texas-based billionaire is the fifth largest holder in Energy Transfer with about a 3.3% stake, according to data compiled by Bloomberg.Another purchase came from NuStar Energy LP Chairman William Greehey, who bought 200,000 NuStar shares at an average price of $12.24, according to a filing. Greehey is the third largest holder in the midstream firm, with a 9.02% stake, Bloomberg data show.Elsewhere, Travis Stice, CEO of shale driller Diamondback Energy Inc., bought 17,146 indirectly owned shares at an average price of $28.40 on March 10, a filing showed. Range Resources Corp. board member Steffen Palko also bought 903,128 shares for an average price of $2.20, increasing his holdings in the underperforming natural gas driller to 1 million shares.Since February 20, oil and gas insiders have spent about $93 million purchasing their companies’ stocks, according to data compiled by the Washington Service.See more purchases here.(Updates with data from Washington Service in 6th paragraph.)\--With assistance from Miles Weiss.To contact the reporter on this story: Michael Bellusci in Toronto at firstname.lastname@example.orgTo contact the editors responsible for this story: Courtney Dentch at email@example.com, Scott Schnipper, Jennifer Bissell-LinskFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
(Bloomberg) -- Goldman Sachs Group Inc. asset managers cut borrowing for two energy funds, which saw their top holdings fall by one-third in two days amid “unprecedented” volatility in commodity prices, resulting in a “material impact” on their net asset value.The bank has decided to “effectively eliminate the net leverage” of its MLP Income Opportunities Fund and MLP and Energy Renaissance Fund, its asset management arm said in separate statements. The funds had combined assets of about $590 million at the end of January, mainly in master limited partnerships that operate U.S. oil and gas pipelines and terminals, according to the company’s website. Leverage for the MLP Income fund was 39.21% and for the Energy Renaissance fund was 37.97% at that time, according to the website.The move is a sign of the wide-ranging impact from the oil price collapse, which is threatening America’s booming output and exports, and could make defaults and bankruptcies more likely across shale drillers.A gauge of oil market volatility in the U.S. on Monday rose to the highest level in records dating back to 2007 as crude prices crashed amid the dissolution of the OPEC-Russia alliance and the spread of the coronavirus. Energy Transfer LP, the top holding in both funds, has fallen 34% since Thursday, while the second-largest holding, Targa Resources Corp., was down 60%.Goldman’s funds “incurred significant interest rate breakage costs” by terminating fixed rate borrowings, it said in the statements. “The recent market volatility coupled with the effective elimination of leverage has resulted in a material impact to the Fund’s net asset value,” it said, without elaborating on the scale.MLPs were once the darlings of the energy investment world, benefiting from U.S. regulation that allowed them to avoid paying corporate taxes and instead pass on cash to shareholders, who were then levied on the quarterly payouts. They received the tax designation because they owned energy infrastructure like pipelines and terminals, which were in high demand as the shale boom boosted oil and gas production and the need to move it to markets.That tax policy changed in 2018, and now the companies face heightened fears that the crude price crash will slow oil and gas production and leave them with less money to pay down debt and fund their lucrative distributions.(Updates with chart and background.)To contact the reporter on this story: Dan Murtaugh in Singapore at firstname.lastname@example.orgTo contact the editors responsible for this story: Ramsey Al-Rikabi at email@example.com, Rob VerdonckFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Energy Transfer LP (NYSE: ET) today announced that its subsidiary, Bayou Bridge Pipeline, LLC ("Bayou Bridge"), launched a Binding Supplemental Open Season ("Open Season") to solicit additional shipper commitments for transportation service from Nederland, Texas to Lake Charles, Louisiana through the Bayou Bridge Pipeline System. Bayou Bridge anticipates that incremental capacity on the Bayou Bridge Pipeline System will be determined based on committed subscriptions made by shippers during the Open Season.
Energy Transfer LP (NYSE: ET) and Energy Transfer Operating, L.P. (ETO) today announced they have filed their respective annual reports on Form 10-K for the year ended December 31, 2019 with the Securities and Exchange Commission (SEC).
Energy Transfer LP (NYSE: ET) today announced the execution of a suite of gathering, processing, transportation and fractionation agreements with a large, investment- grade integrated energy company (the "Company"). These agreements increase and extend long-term commitments between the Company and Energy Transfer in the Eagle Ford and Delaware Basins through 2034 and 2040, respectively.
Energy Transfer LP (NYSE:ET) ("ET" or the "Partnership") today reported financial results for the quarter and year ended December 31, 2019.
Energy Transfer (ET) is seeing favorable earnings estimate revision activity and has a positive Zacks Earnings ESP heading into earnings season.
Energy Transfer's (ET) fourth-quarter earnings are likely to have benefited from the fee-based business and completion of project backlog.
Energy Transfer has brought U.S.-based employees back from its Beijing office, CEO Kelcy Warren said at the Argus Americas Crude Summit in Houston. The company and Royal Dutch Shell have an agreement to develop Energy Transfer's existing Lake Charles LNG import facility on the U.S. Gulf Coast for LNG export, but the project has not received final investment approvals.