Energy Transfer Partners L.P. is a publicly traded partnership that owns and operates a diversified portfolio of energy assets. The partnership has pipeline operations in Alabama, Arizona, Arkansas, Colorado, Florida, Louisiana, Mississippi, New Mexico, Utah and West Virginia and owns the largest intrastate pipeline system in Texas. It currently has natural gas operations that include approximately 24,000 miles of gathering and transportation pipelines, treating and processing assets, and three storage facilities located in Texas. Energy Transfer Partners also holds a 70% interest in Lone Star NGL LLC, a joint venture that owns and operates natural gas liquids storage, fractionation and transportation assets in Texas, Louisiana and Mississippi.
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Ray Merola, Seeking Alpha
"Energy Transfer Partners L.P. reported some very positive developments. . .I believe the key items reported in the first quarter are as follows: Distributable cash flow has turned decidedly positive over the past four quarters, the cash distribution coverage ratio was comfortably above 1.0x, major capital projects promise significant future growth, the organizational structure has been simplified. . .and credit metrics remain acceptable. . .I believe management and business performance are aligning towards an increase in the cash distribution. . .I think it's more likely to come now than any time since I've been following the company."
Dividend Monk, Seeking Alpha
"Energy Transer Partners L.P. is currently paying a high yield of 7.41% and management has expressed commitment to resuming growth of that distribution. For long-term rates of return to be 9% or 10%, the distribution only has to grow by 1.5–2.5%/year, respectively. . .I expect the partnership's operations and its Sunoco Logistics Partners L.P. holding in particular to allow it to modestly increase its distribution over time."
Zacks Investment Research
"Zacks Investment Research upgraded natural gas pipeline operator Energy Transfer Partners L.P. to a Zacks Rank #2, Buy; operating environment and growth prospects seem bright for Energy Transfer Partners, as reflected by the rising earnings estimates for this leading MLP. . .adjusted earnings before EBITDA for the quarter was $948M compared with $493M in the year-ago quarter, reflecting robust performance from the Interstate Transportation and Storage business unit along with strong margins in all its business segments. . .we believe Energy Transfer Partners is well positioned to compete in the natural gas midstream, and transportation and storage businesses with its geographically dispersed asset mix." Zacks Equity Research
Zacks Equity Research
"Natural gas pipeline operator Energy Transfer Partners L.P. announced that it will buy the remaining 60% stake in ETP Holdco Corp from its general partner Energy Transfer Equity L.P., in order to simplify its structure and optimize its portfolio. . .we believe the company is well positioned to compete in the natural gas midstream and transportation and storage businesses with its geographically dispersed asset mix. The partnership has a significant market presence in each of its operating areas, which are located in the major natural gas-producing regions of the U.S."
Stephen Maresca, Morgan Stanley
"Energy Transfer Partners L.P. and Energy Transfer Equity L.P. take another step forward in reconfiguring their structure. . .we also see some upside in Energy Transfer Partner shares (target raised to $53 from $50) and believe a return to distribution increase (for the first time in 5+ years) is forthcoming in H2/13. Moreover, we see less equity needs in 2013 for the company compared to prior years, an additional positive in our view."
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