Energy Transfer Equity

Last updated
Energy Transfer LP
Public company
Master limited partnership
Traded as NYSE:  ET
Industry Petroleum industry
FoundedSeptember 2002;16 years ago (2002-09) (as Energy Transfer Equity, L.P.)
Headquarters Dallas, Texas, U.S.
RevenueIncrease2.svg $54.087 billion (2018)
Increase2.svg $4.039 billion (2018)
Total assets Increase2.svg $88.442 billion (2018)
Total equity Decrease2.svg $36.621 billion (2018)
Number of employees
11,768 (2018)
Website www.energytransfer.com
Footnotes /references
[1]

Energy Transfer Equity, L.P. is the former name of Energy Transfer LP, a master limited partnership. Its only asset is a 100% interest in Energy Transfer Operating L.P. (formerly known as Energy Transfer Partners).

In the United States, a master limited partnership (MLP) or publicly traded partnership (PTP) is a publicly traded entity taxed as a partnership. It combines the tax benefits of a partnership with the liquidity of publicly traded securities.

Energy Transfer Partners is a company engaged in natural gas and propane pipeline transport. It is organized in Delaware and headquartered in Dallas, Texas. It was founded in 1995 by Ray Davis and Kelcy Warren, who remains Chairman and CEO. It owns a 36.4% interest in Dakota Access, LLC, the company responsible for developing the controversial Dakota Access Pipeline.

History

The company was formed as La Grange Energy, L.P. by Energy Transfer in September 2002.

In February 2006, it became a public company via an initial public offering. [2]

Public company Company that offers its securities for sale to the general public

A public company, publicly traded company, publicly held company, publicly listed company, or public limited company is a corporation whose ownership is dispersed among the general public in many shares of stock which are freely traded on a stock exchange or in over the counter markets. In some jurisdictions, public companies over a certain size must be listed on an exchange. A public company can be listed or unlisted.

Initial public offering (IPO) or stock market launch is a type of public offering in which shares of a company are sold to institutional investors and usually also retail (individual) investors; an IPO is underwritten by one or more investment banks, who also arrange for the shares to be listed on one or more stock exchanges. Through this process, colloquially known as floating, or going public, a privately held company is transformed into a public company. Initial public offerings can be used: to raise new equity capital for the company concerned; to monetize the investments of private shareholders such as company founders or private equity investors; and to enable easy trading of existing holdings or future capital raising by becoming publicly traded enterprises.

In June 2015, the company made a proposal to acquire Williams Companies. [3] The offer was rejected. [4]

Williams Companies American energy company

The Williams Companies, Inc. is an energy company based in Tulsa, Oklahoma. Its core business is natural gas processing and transportation, with additional petroleum and electricity generation assets. A Fortune 500 company, its common stock is a component of the S&P 500.

In October 2018, the company acquired Energy Transfer Partners and changed its name to Energy Transfer LP. [5]

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References

  1. "Energy Transfer Operating L.P. 2018 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
  2. "Energy Transfer Equity, L.P. Announces Pricing of Initial Public Offering". Energy Transfer (Press release). February 2, 2006.
  3. Sakelaris, Nicholas (June 23, 2015). "Energy Transfer Equity confirms it made $53B proposal to The Williams Company". American City Business Journals .
  4. Sakelaris, Nicholas (June 22, 2015). "Why The Williams Company publicly rejected Energy Transfer Equity's $53B deal". American City Business Journals .
  5. Morwa, Rida (4 December 2018). "Energy Transfer LP: Safe 8.5% Yield And Enormous Upside Potential". Seeking Alpha. Retrieved 5 December 2018.