Energy Transfer Partners, L.P. (ETP) today announced that its Board of Directors has approved a $0.02 increase in its quarterly distribution to $1.015 per ETP common unit ($4.06 annualized) for the quarter ended March 31, 2015.
The quarterly distribution of $1.015 represents a distribution increase of $0.32 per common unit on an annualized basis, or 8.6%, compared to the first quarter of 2014 and represents an annualized distribution increase of $0.08 per common unit compared to the fourth quarter of 2014. This marks the seventh consecutive quarter that ETP has raised its distribution. The cash distribution will be paid on May 15, 2015 to unitholders of record as of the close of business on May 8, 2015.
ETP expects to release earnings for the first quarter of 2015 on Wednesday, May 6, 2015, after the market closes. ETP and Energy Transfer Equity, L.P. (ETE), which owns the general partner of ETP, will conduct a joint conference call on Thursday, May 7, 2015 at 8:00 a.m. Central Time to discuss their quarterly results. The conference call will be broadcast live via an internet web cast, which can be accessed through www.energytransfer.com. The call will also be available for replay on Energy Transfer’s web site for a limited time.
The following information applies to ETP’s quarterly distribution announcement:
Record Date: May 8, 2015
Ex-Date: May 6, 2015
Payment Date: May 15, 2015
Amount Paid: $1.015 per common unit
Energy Transfer Partners, L.P. (ETP) is a master limited partnership owning and operating one of the largest and most diversified portfolios of energy assets in the United States. ETP currently owns and operates approximately 35,500 miles of natural gas and natural gas liquids pipelines. ETP owns 100% of Panhandle Eastern Pipe Line Company, LP (the successor of Southern Union Company) and a 70% interest in Lone Star NGL LLC, a joint venture that owns and operates natural gas liquids storage, fractionation and transportation assets. ETP also owns the general partner, 100% of the incentive distribution rights, and approximately 67.1 million common units in Sunoco Logistics Partners L.P. (SXL), which operates a geographically diverse portfolio of crude oil and refined products pipelines, terminalling and crude oil acquisition and marketing assets. ETP owns 100% of Sunoco, Inc. and 100% of Susser Holdings Corporation. Additionally, ETP owns the general partner, 100% of the incentive distribution rights and approximately 43% of the limited partner interests in Sunoco LP (formerly Susser Petroleum Partners LP) (SUN), a wholesale fuel distributor and convenience store operator. ETP’s general partner is owned by ETE. For more information, visit the Energy Transfer Partners, L.P. web site at www.energytransfer.com.
Energy Transfer Equity, L.P. (NYSE: ETE) is a master limited partnership which owns the general partner and 100% of the incentive distribution rights (IDRs) of Energy Transfer Partners, L.P. (ETP) and approximately 82.6 million ETP Class H Units, which track 90% of the underlying economics of the general partner interest and the IDRs of Sunoco Logistics Partners L.P. (SXL). ETE also owns the general partner and 100% of the IDRs of Regency Energy Partners LP (RGP) and approximately 57.2 million RGP common units. On a consolidated basis, ETE’s family of companies own and operate approximately 71,000 miles of natural gas, natural gas liquids, refined products, and crude oil pipelines. For more information, visit the Energy Transfer Equity, L.P. web site at www.energytransfer.com.