Expanded Dakota Access Pipeline begins service, Energy Transfer says

August 17, 2021

Energy Transfer said it reduced outstanding debt by $1.5B during the quarter, bringing YTD long-term debt reduction to ~$5.2B.

The planned expansion of the Dakota Access Pipeline has been placed into service with an upsized system capacity of ~750K bbl/day from 570K bbl/day previously, the company said on tonight's earnings conference call, as reported by Reuters.

August nominations on the expanded DAPL capacity have increased significantly, co-CEO Marshall McCrea reportedly said on the call.

The company also said it began service on its Cushing to Nederland expansion project in June, which provides connectivity to transport crude from the DJ Basin and Cushing, Okla., to its Nederland, Texas, terminal.

"We are now capable of transporting 65K bbl/day of oil [on the expanded pipeline] and we are seeing a steady growth in volumes," co-CEO Thomas Long said, adding that the company is moving forward with a second phase which will raise capacity to 120K bbl/day and enter service in Q1 2022.

Long also said the waiting period for antitrust approval of Energy Transfer's $2.6B acquisition of Enable Midstream (NYSE:ENBL) has been extended after the U.S. Federal Trade Commission's second request for information, but he still expects an unconditional clearance of the deal by H2.

For this year Energy Transfer LP 's revenue will be around 63.14 billion USD. This is according to the average of the analysts' estimates. This is hugely more than 2021's revenue of 38.95 billion USD.

Historical revenues and results Energy Transfer LP plus estimates 2021

The analysts expect for 2021 a net profit of 5.82 billion USD. According to most of the analysts the company will have a profit per share for this book year of 2.01 USD. So the price/earnings-ratio equals 4.73.

Huge dividend Energy Transfer LP

Per share the analysts expect a dividend of 61 cents per share. Energy Transfer LP 's dividend yield thus equals 6.41 percent. The average dividend yield of the pharmaceutical companies equals a poor 1.36 percent.

Based on the current number of outstanding shares Energy Transfer LP 's market capitalization 25.58 billion USD. 57

Historical stock prices Energy Transfer LP

At 19.22 the stock trades 2.27 percent lower at 9.51 USD.

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