Energy Transfer L P Stock Price, News & Analysis

Sunoco LP (NYSE: SUN) announced a private offering of senior notes totaling $800 million, due in 2030 and 2032. The notes will be co-issued by Sunoco Finance Corp., a wholly owned subsidiary. Sunoco plans to utilize the proceeds to fund a tender offer for its outstanding 5.500% senior notes due 2026. The offering is exempt from registration under the Securities Act, targeting qualified institutional buyers and non-U.S. persons. Sunoco continues to face risks related to the COVID-19 pandemic and commodity price instability.

Energy Transfer (NYSE: ET) has signed a 15-year Power Purchase Agreement (PPA) with SB Energy for 120 megawatts from the Eiffel Solar project in Texas. This agreement supports Energy Transfer's commitment to renewable energy and complements its first agreement with the Maplewood 2 solar farm. SB Energy plans to commence construction on the Eiffel Solar project in 2022, with energy delivery starting in January 2024. The initiative aligns with the growing demand for clean energy solutions in Texas.

Energy Transfer LP (NYSE:ET) reported strong financial results for Q2 2021, with net income attributable to partners of $626 million, a $273 million increase from the previous year. Adjusted EBITDA rose to $2.62 billion, driven by enhanced earnings across core segments. Distributable Cash Flow also increased to $1.39 billion. Operationally, ET launched its Cushing to Nederland expansion and ramped up volumes at its terminal. The partnership successfully reduced debt by about $1.5 billion, affirming its investment-grade rating. Quarterly distribution was set at $0.1525 per unit.

Sunoco LP (NYSE: SUN) reported a net income of $166 million for Q2 2021, up from $157 million in Q2 2020. Adjusted EBITDA increased to $201 million, driven by higher fuel volume and gross profit, despite lower fuel margins and increased operating expenses. The company sold 1.9 billion gallons of fuel, marking a 28% increase year-over-year. A distribution of $0.8255 per unit was declared, with cash coverage at 1.67 times. SUN executed agreements to acquire terminals for $255.5 million, expected to enhance value for unitholders. Full-year EBITDA outlook remains at $725 to $765 million.

Energy Transfer (NYSE: ET) has joined The Environmental Partnership, a coalition of nearly 100 energy companies focused on enhancing environmental performance. This initiative aims to reduce emissions through advanced technology and best practices. Energy Transfer operates over 90,000 miles of pipelines and plans to increase renewable energy usage, including the Maplewood 2 Solar farm. The company also utilizes Dual Drive compressors to lower emissions. Approximately 20% of their daily energy consumption comes from renewable sources, highlighting their commitment to sustainability.

Sunoco LP (NYSE: SUN) has announced its acquisition of nine refined product terminals for a total of $255.5 million. The acquisitions include terminals from NuStar Energy L.P. and Cato, Incorporated, significantly expanding SUN's midstream operations. This strategic move enhances SUN's fuel distribution capabilities while maintaining its financial leverage targets. The deal is expected to be accretive to unitholders upon closing in Q4 2021. The acquired terminals, primarily located on the East Coast and in the Midwest, have a combined storage capacity of approximately 14.8 million barrels.

Energy Transfer LP (NYSE: ET) announced a quarterly cash distribution of $0.1525 per common unit for Q2 2021, consistent with Q1. The annualized distribution equates to $0.61 and will be paid on August 19, 2021 to unitholders on record as of August 6, 2021. Additionally, the company plans to release its Q2 earnings on August 3, 2021, followed by a conference call at 3:30 PM CT to discuss results. ET operates a diversified portfolio in energy assets across major U.S. production basins.

Energy Transfer LP (ET) has announced quarterly cash distributions for its preferred units, amounting to $0.4609375 for Series C, $0.4765625 for Series D, and $0.4750000 for Series E. These distributions will be paid on August 16, 2021, to unitholders recorded by August 2, 2021. Following the merger with Energy Transfer Operating, L.P., unitholders converted their preferred units to ET units. ET operates a diverse energy asset portfolio, including natural gas midstream and transportation assets, and is publicly traded.