The stock for this midstream energy company looks well-positioned moving forward.In the wake of the election and the release of its third-quarter results, Energy Transfer (ET -0.35%) saw its stock hit a 52-week high and is now up more than 25% on the year as of this writing, without even taking into consideration its handsome distribution. Speaking of distributions, the master limited partnership (MLP) just raised that as well.Against the backdrop of what is expected to be a more favorable regulatory enviro ...

Members of Catalyst Hedge Investing had early access to this article. They have exclusive access to many other articles every month as well as an active chat board with regular updates on ideas and a best ideas portfolio.Energy Transfer (NYSE: ET ) reported strong Q3 earnings on Wednesday (Nov. 6). Growth occurred in all categories. The headline-grabbing numbers occurred in the oil segment. NGL and natural gas volumes, the company's real bread and butter, were more muted and similar toHe leads the investing ...

We began our coverage of Energy Transfer (NYSE: ET ) in April this year, calling it our top pick in the US midstream space on its attractive combination of 1) solid business fundamentals, 2) a sector-leading dividend yield andAnalyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it ...

The high-yield play that I highlighted in August , Energy Transfer LP (NYSE: ET ), is doing well. The stock grew by around 7%, very close compared to the S&P 500. The company released its Q3 report earlierAs an investor who started my path five years ago with my own capital, I represent a blend of hands on experience and academic background in corporate finance. Due to my relatively young age I thrive on discovering long-duration growth opportunities and actively seek out opportunities that align with my ri ...

The MLP's expansion initiatives continue to grow its volumes and earnings.Energy Transfer (ET -0.06%) has been on an acquisition binge. The midstream giant recently closed its nearly $3.1 billion purchase of WTG Midstream, which followed its $7.1 billion merger with fellow master limited partnership (MLP) Crestwood Equity Partners last November. On top of that, the company has continued to invest heavily in organically expanding its operations. Those investments helped fuel record volumes across several of ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ý QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 or ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 1-32740 ENERGY TRANSFER LP (Exact name of registrant as specified in its charter) Delaware 30-0108820 (State or other jurisdiction of incorporation or orga ...

财务数据和关键指标变化 - 2024年第三季度调整后EBITDA为39.6亿美元，较2023年第三季度的35.4亿美元增长了约3.9% [6] - 分配给Energy Transfer合伙人的调整后现金流（DCF）为19.9亿美元，与去年同期持平 [7] 各条业务线数据和关键指标变化 - NGL和精炼产品部门的调整后EBITDA为10.1亿美元，较2023年第三季度的10.8亿美元下降了约6.5%，主要由于NGL库存优化收益减少 [8] - 中游部门的调整后EBITDA为8.16亿美元，较2023年第三季度的6.31亿美元增长了约29% [9] - 原油部门的调整后EBITDA为7.68亿美元，较2023年第三季度的7.06亿美元增长了约8.8% [10] - 跨州天然气部门的调整后EBITDA为4.6亿美元，较2023年第三季度的4.91亿美元下降了约6.3% [11] - 内州天然气部门的调整后EBITDA为3.29亿美元，较去年同期的2.44亿美元增长了约34.8% [12] 公司战略和发展方向和行业竞争 - 公司计划在2024年进行约29亿美元的有机增长资本支出，主要集中在NGL和精炼产品及中游部门 [16] - 公司正在推进多个项目，包括NGL出口能力的扩展和Permian盆地的处理设施升级，以满足未来的需求 [18][19] - 公司对天然气需求的增长持乐观态度，尤其是在AI数据中心和电力需求上，认为公司在行业中处于有利位置 [21][28] 管理层对经营环境和未来前景的评论 - 管理层对未来的天然气需求表示乐观，认为公司能够利用其广泛的管道网络满足不断增长的需求 [22][28] - 管理层提到，尽管面临竞争，但公司在德克萨斯州的市场地位和基础设施使其能够有效应对市场变化 [50] 其他重要信息 - 公司在2024年预计调整后EBITDA将在153亿美元到155亿美元之间 [27] - 公司保持强劲的流动性，能够支持有机增长机会，同时减少杠杆 [29] 问答环节所有提问和回答 问题: 关于未来天然气需求的看法 - 管理层表示，尽管不期望实现16 Bcf的全部需求，但预计会获得相应的市场份额，并对未来的增长机会感到兴奋 [50][51] 问题: 关于南密西西比管道的扩展计划 - 管理层提到，东海岸和佛罗里达的天然气需求正在快速增长，南密西西比管道的开放季节反响热烈，未来有扩展的可能性 [38] 问题: WTG收购后的整合情况 - 管理层对WTG的收购表示满意，认为其将为公司带来显著的增长机会，并且整合进展顺利 [45][46] 问题: 关于Lake Charles LNG项目的进展 - 管理层对Lake Charles项目的前景持乐观态度，期待在年底前宣布新的市场签约 [42] 问题: 关于未来资本支出计划 - 管理层表示，资本支出计划可能会根据市场机会的变化而调整，预计未来支出将保持在25亿到35亿美元之间 [66]

业绩总结 - 2024年第三季度归属于合伙人的净收入为11.8亿美元，同比增长103%[3] - 2024年第三季度调整后的EBITDA为39.6亿美元，同比增长12%[3] - 2024年调整后的EBITDA指导范围为153亿至155亿美元，较2023年中点增长12%[4] - 第三季度可分配现金流（DCF）为19.9亿美元[4] - 2023年，Energy Transfer的调整后EBITDA为11,599百万美元[24] - 2024年第二季度，Energy Transfer的可分配现金流为2,039百万美元[24] - 2023年，预计可分配现金流为7,578百万美元[24] 资本支出与投资 - 第三季度资本支出为7.24亿美元，增长资本支出为7.24亿美元，维护资本支出为3.59亿美元[4] - 2024年预计增长资本支出为28亿至30亿美元[6] - 新建冷藏储存设施将使丁烷储存能力增加三分之一，并使丙烷储存能力翻倍，项目总成本预计为15亿美元[18] 未来展望与扩张 - 预计在2025年第一季度投入服务的天然气发电设施建设中，计划建设8个10兆瓦的天然气发电设施[4] - 荷兰终端扩建工程正在进行中，预计将增加25万桶/天的NGL出口能力，预计于2025年中投入使用[18] - 最近完成了50 MMcf/d的Orla East处理厂扩建[3] - 最近完成了30英里原油管道的建设，能够运输约10万桶/日的原油[3] 环境与技术 - 2023年，预计减少的二氧化碳排放量约为79万吨[20] - Energy Transfer与CapturePoint达成协议，将来自路易斯安那州北部处理设施的二氧化碳用于捕集和封存项目[22] 现金分配与股东回报 - 宣布季度现金分配增加至每单位0.3225美元，同比增长3.2%[4] - 可分配现金流定义为净收入，调整某些非现金项目后减去优先合伙人分配和维护资本支出[29] - 可分配现金流用于评估整体表现，并计算公司通过运营产生的现金以支持分配的能力[30]

ENERGY TRANSFER REPORTS THIRD QUARTER 2024 RESULTS Dallas – November 6, 2024 - Energy Transfer LP (NYSE:ET) ("Energy Transfer" or the "Partnership") today reported financial results for the quarter ended September 30, 2024. Energy Transfer reported net income attributable to partners for the three months ended September 30, 2024 of $1.18 billion. For the three months ended September 30, 2024, net income per common unit (basic) was $0.33. Adjusted EBITDA for the three months ended September 30, 2024 was $3.9 ...

文章核心观点 - 公司预计第三季度收入和利润将有所改善 [1][3] - 公司的管道网络遍布美国各主要产区,收益来源广泛,有助于提升第三季度业绩 [8][9] - 公司正在扩大天然气液体出口设施,出口量增加有望提升业绩 [9] - 公司通过有机扩张和战略性收购不断增强管道网络,有利于业绩表现 [7][14] 根据相关目录分别进行总结 财务表现 - 第三季度收入预计同比增长16.81%至240.23亿美元 [3] - 第三季度每股收益预计同比增长3.3%至0.32美元 [3] - 过去4个季度中有2个季度业绩超出市场预期,平均超出5.15% [4] - 公司估值相对较低,EV/EBITDA TTM为10.58倍,低于行业平均11.98倍 [12][13] 业务发展 - 公司通过有机扩张和收购不断扩大管道网络,提升服务能力 [7][14] - 公司在Permian盆地的天然气管道和加工网络得到扩张,有助于提升业绩 [7] - 公司正在扩大天然气液体出口设施,出口量增加有望提升业绩 [9] - 公司管道遍布美国各主要产区,收益来源广泛,有助于提升业绩 [8] 风险因素 - 公司依赖部分主要生产商供应天然气,如果失去这些供应商可能会对业绩产生不利影响 [15]