Markets
BAK

Energy Transfer Partners (ETP) Q1 Loss Narrows, Stock Up

A generic image of a stock chart on a display
Credit: Shutterstock photo

Natural gas pipeline operator Energy Transfer Partners LPETP reported first-quarter 2016 loss from continuing operations of 15 cents per limited partner unit, narrower than the year-ago quarter loss of 17 cents. The Zacks Consensus Estimate was pegged at a profit of 25 cents.

The year-over-year improvement in the bottom line was supported by a considerable reduction in total expenses. Following this, the partnership rose almost 9% on the NYSE. However, the positives were offset partially by lower contribution from midstream operations.

Energy Transfer Partners LP (ETP) Street EPS & Surprise Percent - Last 5 Quarters | FindTheCompany

Quarterly revenues decreased more than 56% year over year to $4,481 million and widely missed the Zacks Consensus Estimate of $8,749 million.

Quarterly Cash Distribution

Last month, Energy Transfer Partners announced first-quarter distribution of $1.055 per unit ($4.22 per unit annualized), representing a year-over-year increase of 3.9%. The distribution remained unchanged from the prior quarter.

EBITDA & Operating Income

Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) for the quarter were $1,412 million, up from $1,366 million a year ago.

The partnership reported operating income of $614 million, higher than $608 million in first-quarter 2015.

Total Expense

Energy Transfer Partners reported total expenses of $3,867 million for first-quarter 2016, reflecting a year-over-year decline of 60%.

Distributable Cash Flow

Energy Transfer Partners' distributable cash flow came in at $956 million, higher than the prior-year quarter level of $927 million.

Capital Expenditure

Maintenance capital expenditure totaled $59 million compared with $84 million in the first quarter of 2015.

Balance Sheet

As of Mar 31, 2016, Energy Transfer Partners had long-term debt (less current maturities) of $26,769 million. Debt-to-capitalization ratio was about 50%.

Zacks Rank & Other Stocks

Energy Transfer Partners currently carries a Zacks Rank #3 (Hold).

Some better-ranked players in the energy sector are PetroChina Co. Ltd. PTR , Braskem S.A. BAK and Pembina Pipeline Corporation PBA . Each of these stocks sports a Zacks Rank #1 (Strong Buy).

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

ENERGY TRAN PTR (ETP): Free Stock Analysis Report

PETROCHINA ADR (PTR): Free Stock Analysis Report

BRASKEM SA (BAK): Free Stock Analysis Report

PEMBINA PIPELN (PBA): Free Stock Analysis Report

To read this article on Zacks.com click here.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story

BAK PBA PTR

Other Topics

Stocks

Latest Markets Videos