ET - Energy Transfer LP
| Previous close | 10.78 |
| Open | 10.35 |
| Bid | 10.30 x 4000 |
| Ask | 10.26 x 3200 |
| Day's range | 9.91 - 10.43 |
| 52-week range | 9.91 - 15.87 |
| Volume | 9,779,294 |
| Avg. volume | 18,040,929 |
| Market cap | 27.545B |
| Beta (5Y monthly) | 1.58 |
| PE ratio (TTM) | 7.53 |
| EPS (TTM) | 1.36 |
| Earnings date | 05 May 2020 - 10 May 2020 |
| Forward dividend & yield | 1.22 (10.87%) |
| Ex-dividend date | 05 Feb 2020 |
| 1y target est | 19.33 |
- Business Wire
Energy Transfer LP and Energy Transfer Operating, L.P. File 2019 Annual Reports
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).
- Bloomberg
Energy Transfer Says CEO of Williams Secretly Undermined Takeover
(Bloomberg) -- Energy Transfer LP claims Williams Cos.’s chief executive officer covertly undermined one of the pipeline industry’s biggest-ever takeovers and then sought to cover his tracks as the $33 billion deal imploded.Williams CEO Alan Armstrong used a personal email account and private meetings to help a former employee mount a legal challenge to a merger publicly supported by Williams’ board, Energy Transfer said in a Delaware Court of Chancery filing. Armstrong’s efforts amounted to “overt steps to scuttle the merger,” according to the filing.A Williams representative called the allegations “unfounded” and said they represent an attempt by Energy Transfer “to avoid the consequences of its own conduct.” Williams believes it’s “entitled to judgment in its favor,” according to an emailed statement.Energy Transfer and Williams have been sparring over a $1.5 billion breakup fee since June 2016, when a combination that would have created the nation’s largest natural gas transporter fell through in one of the industry’s most notorious failures. Williams argued Energy Transfer was unfairly trying to exact the breakup fee after abandoning the deal.This latest argument by Energy Transfer seeks to convince a Delaware judge that Williams was in breach of the merger agreement, and that that absolves Energy Transfer from having to pay anything.Crippled DealJohn Bumgarner, the former Williams senior vice president and a shareholder at the time of the proposed merger, said Armstrong had nothing to do with the class-action lawsuit he filed in January 2016.“I filed that lawsuit all by myself,” Bumgarner said by telephone on Thursday from Tulsa, Oklahoma.Williams argued that Energy Transfer, a creation of billionaire Kelcy Warren, invoked a tax flaw as a cover for having buyer’s remorse as oil plunged. But the court sided with Energy Transfer, saying that while its finding of a tax flaw raised questions, it did in fact cripple the deal.Now, Energy Transfer is arguing that Armstrong had been working behind the scenes with Bumgarner to inform his lawsuit and conduct a “PR campaign” against the merger. Energy Transfer said those communications showed that Williams was the one that wanted out of the deal.Beginning in December 2015, Armstrong and Bumgarner exchanged “numerous emails,” the filing said, “often using Armstrong’s personal Gmail account or a Cox Communications account that he shared with his wife.” Those communications weren’t disclosed in subsequent legal proceedings and Armstrong later deleted the Gmail account, Energy Transfer alleged.Non-Public InfoEnergy Transfer said the emails centered around non-public details of the merger that later appeared in Bumgarner’s lawsuit seeking to cancel the deal. In the interview, Bumgarner said Armstrong was only trying to get him to leave Williams out of the lawsuit, arguing that the language Bumgarner was contesting was written by Energy Transfer and not Williams.When the merger was officially terminated, Armstrong and Bumgarner met for happy hour, according to the filing. “Bumgarner followed up with an email to Armstrong two days later, referring to their ‘team’ efforts during the past 6 months,” Energy Transfer said.“I don’t know what we were talking about,” Bumgarner said during the interview. “We worked together at the same company for a long time. I see him socially at the country club. I see him at United Way events. Tulsa is not a very big town.”\--With assistance from Jef Feeley.To contact the reporter on this story: Rachel Adams-Heard in Houston at radamsheard@bloomberg.netTo contact the editors responsible for this story: Simon Casey at scasey4@bloomberg.net, Joe Carroll, Steven FrankFor 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.
- Business Wire
Energy Transfer Announces Multi Basin Strategic Alignment
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.
- Business Wire
Energy Transfer Reports Solid Fourth Quarter 2019 Results
Energy Transfer LP (NYSE:ET) ("ET" or the "Partnership") today reported financial results for the quarter and year ended December 31, 2019.
- Zacks
Should You Buy Energy Transfer (ET) Ahead of Earnings?
Energy Transfer (ET) is seeing favorable earnings estimate revision activity and has a positive Zacks Earnings ESP heading into earnings season.
- Zacks
Energy Transfer (ET) to Report Q4 Earnings: What's in Store?
Energy Transfer's (ET) fourth-quarter earnings are likely to have benefited from the fee-based business and completion of project backlog.
- Zacks
Energy Transfer LP (ET) Outpaces Stock Market Gains: What You Should Know
Energy Transfer LP (ET) closed at $12.38 in the latest trading session, marking a +1.56% move from the prior day.
- Bloomberg
Kelcy Warren Defends MLPs, Deals, Plugs Ad at Texas Summit
(Bloomberg) -- The billionaire chief executive officer of Energy Transfer LP defended the pipeline giant’s partnership structure, stood by his propensity for dealmaking and announced an upcoming commercial to air during the Masters golf tournament at an industry conference in Houston.Donning black cowboy boots and a suit, Kelcy Warren told the Argus Americas Crude Summit that he may at some point consider shaking up Energy Transfer’s corporate structure even as he touted the benefits of the out-of-favor master limited partnership model and predicted a revival.“We may do an up-C, and we probably will do that,” Warren said, referring to a corporate structure that typically involves a publicly traded corporation that holds an interest in a tax-advantaged limited liability company. “We probably will have an alternative currency for our unitholders to look at, but MLPs are just too good of an instrument. They’re just too efficient not to attract people back at some point.”Warren’s comments are the latest sign that even the pipeline MLP sector’s biggest players are being forced to justify sticking to the structure after most of their peers left the model behind following a series of tax changes that sent investors fleeing.“Today they’re so out of favor,” Warren said. “I think it will ultimately go back, but that’s the way it is today.”Just a few months earlier, Enterprise Products Partners LP, one of Energy Transfer’s biggest rivals, said that converting to a corporation may be “inevitable” if more MLPs continue to leave the structure behind.“There are not many of us left,” Warren said. “Do I think MLPs are dead? Absolutely not.”Warren also sought to stand by the company’s penchant for big acquisitions. His most recent deal to buy SemGroup Corp. sent the company’s units falling despite a relatively modest price tag when compared to some of his previous runs.He said it’s not sustainable for companies like his to count on cash flow from its own projects. “Sometimes you need to be defensive,” he said. “To run an MLP correctly, you must have a mix of M&A and organic growth.”It’s not just Energy Transfer’s dealmaking that has attracted criticism in the past. Warren was asked Wednesday about the Dakota Access crude oil pipeline, which garnered months of on-the-ground protests when it was under construction and is now in the process of being expanded.“I talk about DAPL like I talk about my son,” he said, referring to Dakota Access. “I’m so proud of that project.”One way the company has sought to improve its reputation among the general public is with commercials, an unusual tactic for pipeline operators. Energy Transfer has been running a television ad campaign since 2018 across major cities including Houston and New York -- even buying time during major events, like football’s Big 12 Championship.Now, Warren said, the company is working on a commercial to air during the Masters golf tournament in April.To contact the reporter on this story: Rachel Adams-Heard in Houston at radamsheard@bloomberg.netTo contact the editors responsible for this story: Simon Casey at scasey4@bloomberg.net, Carlos Caminada, Christine BuurmaFor 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.
- Reuters
Coronavirus outbreak slows Energy Transfer's LNG push in China -CEO
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.
- Business Wire
Energy Transfer Announces Binding Open Season for Ethane Transportation
Energy Transfer launched a binding open season to solicit shipper volume commitments for ethane transportation service on its Mariner West pipeline.
- Business Wire
Energy Transfer Announces Timing of Fourth Quarter and Full Year 2019 Earnings Release and Conference Call
Energy Transfer LP (NYSE: ET) today announced plans to release earnings for the fourth quarter and full year 2019 on Wednesday, February 19, 2020, after the market closes. ET will also host a conference call on Wednesday, February 19 at 4:00 p.m. Central Time/5:00 p.m. Eastern Time to discuss quarterly results and provide a company update including an outlook for 2020.
- Business Wire
Energy Transfer Announces Quarterly Cash Distribution
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 fourth quarter ended December 31, 2019. 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 third quarter of 2019 and will be paid on February 19, 2020 to unitholders of record as of the close of business on February 7, 2020.
- Zacks
Energy Transfer LP (ET) Stock Sinks As Market Gains: What You Should Know
Energy Transfer LP (ET) closed the most recent trading day at $13.04, moving -0.5% from the previous trading session.
- Business Wire
Energy Transfer Operating, L.P. Announces Cash Distributions on Series C, D and E Preferred Units
Energy Transfer Operating, L.P. today announced the quarterly cash distribution of $0.4609375 per Series C Preferred Unit (NYSE: ETPprC), the quarterly cash distribution of $0.4765625 per Series D Preferred Unit (NYSE: ETPprD), and the quarterly cash distribution of $0.4750000 per Series E Preferred Unit (NYSE: ETPprE). These cash distributions will be paid on February 18, 2020 to Series C, Series D and Series E unitholders of record as of the close of business on February 3, 2020.
- Business Wire
MONDAY DEADLINE ALERT: The Schall Law Firm Announces it is Investigating Claims Against Energy Transfer LP and Encourages Investors with Losses in Excess of $100,000 to Contact the Firm
MONDAY DEADLINE ALERT: The Schall Law Firm Announces it is Investigating Claims Against Energy Transfer LP.
- Business Wire
Energy Transfer Operating, L.P. Announces Pricing of Concurrent Offerings of $4.5 Billion of Senior Notes and $1.6 Billion of Preferred Units
Energy Transfer Operating, L.P. (formerly, Energy Transfer Partners, L.P., and a subsidiary of Energy Transfer LP) ("ETO") today announced that it has priced an underwritten public offering of $1.0 billion aggregate principal amount of its 2.900% senior notes due 2025, $1.5 billion aggregate principal amount of its 3.750% senior notes due 2030 and $2.0 billion aggregate principal amount of its 5.000% senior notes due 2050 (collectively, the "senior notes") at a price to the public of 99.924%, 99.843% and 99.914%, respectively, of their face value.
- Oilprice.com
Is This The Oil Play Of 2020?
There’s a high-yield play brewing in the oil patch as a group of companies continue amassing mineral rights beneath oil fields
- Business Wire
Shareholder Alert: Robbins LLP Reminds Investors the Lead Plaintiff Deadline is Approaching for Energy Transfer LP (ET)
Shareholder rights law firm Robbins LLP reminds investors that a purchaser of Energy Transfer LP (NYSE: ET) filed a class action complaint for alleged violations of the Securities Exchange Act of 1934 between February 25, 2017 and November 11, 2019. Energy Transfer provides energy-related services in the United States and China. One of its projects includes the Mariner East pipeline, a multibillion-dollar pipeline project to carry highly volatile natural gas liquids across Pennsylvania.
- Zacks
Ride The 2020 Natural Gas Compression Wave With These Stocks
Compressors are essential infrastructure that enable the transport of natural gas through pipelines.
- Zacks
Energy Transfer LP (ET) Stock Moves -0.5%: What You Should Know
In the latest trading session, Energy Transfer LP (ET) closed at $13.04, marking a -0.5% move from the previous day.
- Zacks
SemGroup Investors Nod to Energy Transfer's Acquisition Bid
On the conclusion of the merger, SemGroup (SEMG) shareholders are likely to own 2.2% of Energy Transfer's outstanding common units.
