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Stock Market & Financial Investment News

News Breaks
June 18, 2012
08:19 EDTETE, ETP, SUG, SUN, SXLETE to drop down Southern Union assets into ETP-controlled entity
Energy Transfer Equity (ETE) and Energy Transfer Partners (ETP) announced that ETE plans to drop down its interest in Southern Union Company (SUG) into an ETP-controlled entity, which will also include assets to be acquired in the recently announced merger between Sunoco (SUN) and ETP. Concurrent with the closing of the Sunoco merger, ETE will contribute its interest in SUG into an ETP-controlled entity in exchange for a 60% equity interest in the new entity, to be called ETP Holdco Corporation. In conjunction with ETE’s contribution, ETP will contribute its interest in Sunoco to HoldCo and will retain a 40% equity interest in HoldCo. Prior to the contribution of Sunoco to HoldCo, Sunoco’s interests in Sunoco Logistics Partners (SXL) will be transferred to ETP. The transaction has been approved by the boards of directors of ETE’s general partner and ETP’s general partner and will not require the approval of Sunoco’s board. In addition, Energy Transfer has reviewed its plans with all three credit rating agencies and believes that the new structure enhances the overall credit profile of ETE, ETP and SUG and furthers ETP’s commitment to maintaining investment grade credit ratings. The transaction will not require ETE or ETP unitholder approval and no regulatory issues are expected.
News For ETE;ETP;SUG;SUN;SXL From The Last 14 Days
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October 28, 2014
08:31 EDTETE, ETPPhillips 66 becomes JV partner with Energy Transfer for Bakken crude pipelines
Energy Transfer Equity, L.P. (ETE), Energy Transfer Partners, L.P. (ETP) and Phillips 66 (PSX) announced that they have formed two joint ventures to develop the previously announced Dakota Access Pipeline and Energy Transfer Crude Oil Pipeline projects. Energy Transfer holds a 75% interest in each joint venture and will operate both pipeline systems. Phillips 66 owns the remaining 25% interests and will fund its proportionate share of the construction costs. The DAPL and ETCOP projects are expected to begin commercial operations in the fourth quarter of 2016. Based on contractual commitments to date, DAPL is expected to deliver in excess of 450,000 barrels per day of crude oil from the Bakken/Three Forks production area in North Dakota to market centers in the Midwest. DAPL will provide shippers with access to Midwestern refineries, unit-train rail loading facilities to facilitate deliveries to East Coast refineries, and the Gulf Coast market through an interconnection in Patoka, Illinois, with ETCOP. ETCOP will provide crude oil transportation service from the Midwest to the Sunoco Logistics Partners and Phillips 66 storage terminals located in Nederland, Texas.
October 27, 2014
06:14 EDTETP, SUNSusser Petroleum Partners changes its name to Sunoco
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October 21, 2014
16:56 EDTSXLSunoco Partners increases dividend 5% to 38.25c
Sunoco Logistics Partners announced that Sunoco Partners, its general partner, has declared a cash distribution for the Q3 of 38.25c per common unit to be paid on November 14 to unit holders of record on November 7- This represents a 5% increase over the Q2 cash distribution of 36.50c per common unit and a 21% increase over the Q3 2013 cash distribution of 31.50c per common unit. This is the thirty-eighth successive quarter the Partnership has increased its distribution.
16:19 EDTETPEnergy Transfer Partners raises quarterly distribution to 9.75c per unit
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16:18 EDTETEEnergy Transfer Equity raises quarterly distribution to 41.5c per unit
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11:30 EDTETE, ETPOptions with decreasing implied volatility
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