On Apr 16, 2014, the units of
Energy Transfer Equity, L.P.
) touched a 52-week high of $49.02. The unit price was finally
closed at $48.36, up 0.2% from the previous day's closing. We
believe that the partnership's disciplined capital investment
program and payment of cash distribution at regular intervals
have led to the surge in unit price.
Energy Transfer Equity has a significant presence in most of the
mineral-rich regions across the U.S. We appreciate the
partnership's steady effort towards expansion of its asset base.
Energy Transfer Equity's unit
Energy Transfer Partners, L.P.
) intends to invest $2,060-$2,285 million for growth ventures and
allocate $295-$355 million for maintenance projects in 2014. The
partnership planned to invest a significant part of its fund for
midstream and natural gas liquids transportation and services
Energy Transfer Partners' another unit
Regency Energy Partners LP
) recently merged with PVR Partners, L.P. ("PVR"). We believe
proper integration of new assets with the existing facilities
will enable the partnership to strengthen its operations.
In addition to expanding midstream portfolio, Energy Transfer
Equity also follows several initiatives including unit repurchase
program and payment of cash distribution to maximize unitholder
wealth. In Dec 2013, Energy Transfer Equity launched a buyback
program worth $1 billion of common units.
Through Feb 10, 2014, the partnership repurchased around 1.7
million common units under this program. In Feb 2014, Energy
Transfer Equity paid increased cash distribution of around 34.63
cents per unit on a post-split basis.
ACCESS MIDSTRM (ACMP): Free Stock Analysis
ENERGY TRAN EQT (ETE): Free Stock Analysis
ENERGY TRAN PTR (ETP): Free Stock Analysis
REGENCY ENERGY (RGP): Free Stock Analysis
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Energy Transfer Equity maintains a stable cash position and is
showing its efficiency to improve cash inflow through operating
activities. As of Dec 31, 2013, the partnership's cash balance
increased around 58.6% to $0.59 billion from $0.37 billion at
year-end 2012. In 2013, Energy Transfer Equity's cash flow from
operating activities was roughly $2.42 billion, up 124.1% from
approximately $1.08 billion in the year-ago comparable period. A
stable financial position enables the partnership to continue
with its growth ventures besides repurchasing units and paying
regular cash distribution.
Energy Transfer Equity currently has a Zacks Rank #3 (Hold).
Another better-ranked stock in the oil and gas pipeline industry
Access Midstream Partners, L.P.
), carrying a Zacks Rank #2 (Buy).