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Stock Market & Financial Investment News

News Breaks
July 2, 2014
05:34 EDTETE, ETPEnergy Transfer Partners upgraded to Outperform at Wells Fargo
Wells Fargo upgraded Energy Transfer Partners (ETP) to Outperform from Market Perform citing improved long-term growth from recently announced large-scale pipeline projects. Wells raised its price target range for shares to $64-$68 from $59-$63. The firm raised its price target range for Energy Transfer Equity (ETE) to $67-$69 from $54-$56 and keeps an Outperform rating on the name.
News For ETP;ETE From The Last 14 Days
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November 24, 2014
08:34 EDTETPPhillips 66, Energy Transfer Partners announce open season for Nederland
Phillips 66 (PSX) and Energy Transfer Partners, L.P. (ETP) announced the launch of a binding open season to assess interest in committed service under local tariffs for crude oil pipeline transportation originating at Nederland, Texas, for deliveries to various crude oil terminals and refineries in the vicinity of Lake Charles and St. James, Louisiana. The binding open season will commence at 12 p.m. CST on Dec. 1, 2014. Bona fide potential shippers that would like to receive copies of the open season documents, the throughput and deficiency agreement, and proposed tariffs must first sign a confidentiality agreement.
November 18, 2014
11:04 EDTETPEnergy Transfer Partners to host special shareholder meeting
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08:46 EDTETE, ETPETE to transfer 30.8M ETP common units in $3.75B deal
Energy Transfer Partners (ETP) and Energy Transfer Equity (ETE) announced that the management teams of the two partnerships have reached an agreement with respect to a transaction valued at approximately $3.75B in which ETE would transfer 30.8M ETP common units, ETE’s 45% interest in the Bakken pipeline project, and a cash amount to be determined in exchange for newly issued Class H units of ETP that will generally entitle ETE to receive 40.0% of the cash distributions and other economic attributes of the general partner interest and incentive distribution rights of Sunoco Logistics Partners (SXL). In addition, ETE and ETP anticipate that they will negotiate a reduction in the incentive distribution right subsidies that ETE previously agreed to provide to ETP, and that such reductions would occur in 2015 and 2016. When combined with the 50.16M Class H units acquired by ETE in October 2013, upon consummation of the Transaction, ETE would own Class H units that will generally entitle ETE to receive approximately 90% of the cash distributions and other economic attributes of the general partner interest and incentive distribution rights of SXL. Upon redemption of the 30.8M ETP common units, ETP’s outstanding common units will be reduced to approximately 322M common units. ETP expects that the Transaction will be neutral to distributable cash flow per ETP common unit in 2015 and accretive to distributable cash flow per ETP common unit in 2016 and thereafter. ETE expects that the transaction will be slightly dilutive to distributable cash flow per ETE common unit in 2015 and accretive to distributable cash flow per ETE common unit in 2016 and thereafter. The transaction is expected to be credit neutral to both ETE and ETP. ETE and ETP anticipate that the transaction agreements will be negotiated and executed prior to the end of 2014 and that the transaction would close in Q1 of 2015.
November 17, 2014
08:05 EDTETPEnergy Transfer Partners, Regency Energy Partners to construct NGL pipeline
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