Energy Transfer Equity (ETE) & Energy Transfer Partners (ETP)–essentially the same company in two different pieces, owned by Texas billionaire Kelcy Warren–turned in their 2016 updates this week. ETE and ETP had a wild ride in 2016, with lots of drama over attempting to buy–and then wiggle out of the deal to buy–Williams (see Dead as a Doornail: ETE Terminates Merger with Williams). Also part of the ETE/ETP empire is Sunoco Logistics Partners, which is building the twin Mariner East 2 pipelines. Sunoco LP is in the process of buying out/merging in ETP–so those two “subsidiaries” of Energy Transfer will soon combine into one entity (see ETE Merging Sunoco Logistics and Energy Transfer Partners). ETP is the company behind the Dakota Access Pipeline, which has created unending drama over the past six months or so. What did the updates show for ETE & ETP? A revenue loss–although most of it is a paper loss and not money out-of-pocket. Frankly, it will take an accountant to decipher Energy Transfer’s updates. We have the updates below so you can tackle it, if you want. We also grabbed some commentary below that hopefully sheds light on the two companies and what these updates show…
