Energy Transfer LP (ET) has announced a definitive merger agreement to acquire Enable Midstream Partners, LP (ENBL) in an all-equity transaction valued at approximately $7.2 billion. Unitholders of Enable will receive 0.8595 ET common units for each Enable common unit, maintaining an at-the-market transaction price. The merger is expected to enhance Energy Transfer's asset footprint, particularly in the NGL sector, and is projected to be immediately accretive to free cash flow. The transaction has received board approvals and is expected to close by mid-2021.
Enable Midstream Partners declared a quarterly cash distribution of $0.16525 per common unit for the quarter ending Dec. 31, 2020, unchanged from the previous quarter. The payment will occur on March 1, 2021, for unitholders of record as of Feb. 22, 2021. Additionally, a distribution of $0.625 per Series A Preferred Unit has been announced for the same quarter, payable on Feb. 12, 2021, to unitholders of record as of that same date. Enable operates extensive natural gas and crude oil infrastructure assets across the U.S.
Enable Midstream Partners, LP (NYSE: ENBL) has announced that its 2020 tax package, including the Schedule K-1, will be available online by March 5, 2021. The company plans to complete the printing and mailing of these tax packages by March 11, 2021. Unitholders can access the tax package through this link. For assistance, the Enable Midstream Tax Support Line is available at (833) 608-3516, weekdays from 8 a.m. to 5 p.m. Central.
Enable Midstream Partners, LP (NYSE: ENBL) will announce its fourth quarter and year-end 2020 financial results on February 24, 2021, prior to market opening. A conference call will follow at 10 a.m. EST to discuss these results, accessible via toll-free number 833-968-1938. The company manages extensive natural gas and crude oil infrastructure, with 14,000 miles of pipelines and significant processing and storage capacity. For further details, the results will be available on their investor page.
Enable Midstream Partners, LP (NYSE: ENBL) has announced participation in three virtual investor conferences scheduled for November and December 2020. The conferences include the RBC Capital Markets Midstream and Energy Infrastructure Conference on Nov. 18, MUFG Oil & Gas Conference on Dec. 2, and Wells Fargo Midstream and Utility Symposium on Dec. 9. Presentation materials will be available for download on Enable's investor page at enablemidstream.com.
Enable operates an extensive network of natural gas and crude oil infrastructure, featuring 14,000 miles of pipelines and significant processing and storage capacities.
Enable Midstream Partners reported a net loss of $164 million for Q3 2020, a significant decline from the $132 million net income in Q3 2019. This loss mainly stemmed from a $225 million non-cash impairment on investments. Net cash from operations decreased by $32 million, with Adjusted EBITDA down to $229 million. The partnership declared a quarterly cash distribution of $0.16525 per unit, maintaining consistency from previous quarters. Despite challenges, the firm has contracted nearly 1.45 million Dth/d of firm transportation capacity with a strong distribution coverage ratio of 2.04x.
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Enable Midstream Partners, LP (NYSE: ENBL) will announce its third quarter 2020 financial results before market hours on Wednesday, November 4. A conference call to discuss these results is scheduled for 10 a.m. EST (9 a.m. CST), with dial-in options available for participants. Enable operates significant natural gas and crude oil infrastructure, including approximately 14,000 miles of gathering pipelines and 2.6 Bcf/d of processing capacity. For further details, visit Enable's investor page.