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Energy Transfer Partners, L.P. (ETP)

NYSE - NYSE Delayed Price. Currency in USD
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18.26-0.24 (-1.30%)
At close: 4:02PM EDT
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  • J
    JAD9000
    JAD9000
    The company generated $1.6 billion in cash less the $999 million in distributions in Q2. Q3 will see two now fully operational new pipelines and commensurate cash flow plus the profit on the $1.6 billion Blackstone investment - which should be around $250 million. My guess is that the combined increase in cash flow in Q3 could be close to $350 million. That will give us over 110% coverage of the distribution. Add in two additional pipelines in Q4 and deduct the one time pop from Blackstone and coverage and we should see 110% to 115% distribution coverage at a higher payout in Q4. This equates to a $29 share price or thereabouts if we get historical norms back in place.
  • A
    Anonymous
    Anonymous
    WHAT is the near future of ETP here ??? Another high dividend stock sucking inverters in with a continued short selling and price decline. And smaller dividends
  • s
    stephen
    stephen
    Kelcy Warren buy's in on the secondary 1million shares @ 1865 posted today on my insider buy page
  • F
    Fredrickson
    Fredrickson
    Well, I'll be darned! This new offering and the share dilution and the share (unit) price drop now brings my 1 year loss to over 30%. Only positive is ETP will be reducing its debt, but at higher cost equity?? Good news is settlement with N. Dakota over some silly misreporting a find of of Native American artifacts that weren't even disturbed. ...so a $15,000 fine. Good to close the book on at least one issue facing ETP. I'm having real trouble finding the positives in ETP other than I cling to the notion that the future will be much, much brighter when all the cap ex projects are fully on line. I could use some positive opinions from the group...
  • W
    WS
    WS
    The secondary was well telegraphed. Those that don't understand three things should have never bought ETP.
    FIRST, if ETP did not issue more equity they would have lost their investment grade debt rating.
    SECOND, the loss of the debt rating would have raised the interest rates on much of their debt and caused put options on some. This would have cost ETP some $250M a year.
    THIRD, ETP needs the cash being raised via equity to complete Revolution, Rover, ME2 and the second phase of DAPL. Again debt requires a balance of about 50/50 debt equity. They could not issue more debt
    Timing on this never good, but the as the pipelines are supposed to have mid teens % returns the units should not be dilutive and hopefully things can calm and slow down at ETP.
    Mickey, what changed for ETP long term? Nothing I can see. The need to issue units predictable and the long term prospects on 4 huge projects that are near completion bright. A somewhat rogue CEO saying they need to slow and take a breather. Bottom line is either the projects get finished with few or no issues and distribution going forward increases pushing unit price back to mid 20s or it doesn't and the price goes to under $15.
  • J
    John sparks
    John sparks
    Merger! SXL, ETP, Penntax combined, Dakota access up and running, Mariner and Rover close to finish, Black stone investment 1 .5 billion in Rover! getting this natural gas out of western PA a must mariner 2 will do the job all the way to Marcus hook PA for export. thing is I don't know if their are Trains in Philly in thinking their must. I'm in with Warren even tho my stock is down from 21. 70. pipeline is not going anywhere! if ya think the assets that merger created its mind boggling. get this debt down and these pipelines running! the beast of the East western PA will deliver big volume where their was no way to get the gas out. can't wait. I will sell my 15000 shares at 45 a share.
  • J
    Jim
    Jim
    Am I correct in thinking that IF the price is below $18.65 for the next 30 days the underwriter will not exercise the additional 8.1 million shares?
  • W
    WS
    WS
    Did you expect them to finish their projects without more cash? Their bonds require a debt coverage ratio and about 50% equity. Pretty hard to spend billions and pay out all your cash without issuing more units and debt isn't it. As for dilution old argument and not valid if the assets paid for more than offset the cost of distributions on the new units. Agree terrible track record lately, but losing investment grade on debt and paying some $500M more in interest would be worse.
  • J
    Jeff
    Jeff
    This hasn’t been as bad as I expected.
    I thought the selloff would be much steeper this morning.
    I’m not adding any more, but I think by years end I’ll be happy I held on.
  • D
    Daniel Schmidt
    Daniel Schmidt
    EBITA is nothing more than loses being passed on to unit holders in the form of a loss. Read your K1 . As Charlie Munger said these are all loses. Buy at 30 some distribution howler better buying immediately annuity.
  • c
    craig
    craig
    What percentage of 54 million shares compares to the total amount of shares out there ??? Seems like a small amount to finish projects that are about to go online !!!
  • W
    Wiselama
    Wiselama
    AMLP at 52 wk low today......

    Hasnt been this low in quite some time
  • G
    Gene
    Gene
    is there a reason to stay with this now? I have been a SXL holder since 2010, I have had 3 splits and all the distributions paid out through the years. Not my fathers Sunoco anymore
  • T
    Tim
    Tim
    Kelsey continues to destroy shareholder value. This was a $60 stock a few years ago. Then Kelsey decided to name a park in downtown Dallas after his kid. Since then, he's made one bad decision after another. I have no faith in this ?(Jack #$%$), nor the #$%$ Board of Directors. Investors should prepare and spread those cheeks, because I'm sure there is more to come.
  • J
    James
    James
    All the pipelines are slowly going down!! WTH is going on? Oil & Gas are not dead!!!
  • D
    Denis
    Denis
    So where's today's dividend?
  • h
    hrdwkgdog
    hrdwkgdog
    Talk about screwing your unit holders........They could have priced the new offering at $20.00 and that would have been OK.
  • c
    craig
    craig
    This stock only knows one direction...
  • W
    WS
    WS
    Earnings after people read something other than the stupid headline show ETP making progress. Dispute DAPL only ramping up for part of quarter there was measurable DCF improvement.
    For those questioning revenues remember ETP technically takes ownership of pipeline fill in most cases with the net a zero with transport tariff added later. High commodity prices this mean high revenues, but little correlation to profits
  • C
    Chad
    Chad
    a lot of IF's in the Motley Fool article but it certainly seems the turnaround might have just begun. today's trading is probably a little too optimistic but nevertheless it's good news.