Energy Transfer Partners Had $32 Billion in Debt at the End of 1Q17
Energy Transfer Partners (ETP) had a massive debt level of $32 billion at the end of 1Q17. One of the key objectives of ETP’s merger with Sunoco Logistics was to improve the combined entity’s balance sheet. The company hopes to reduce some debt with an indirect distribution reduction, as we discussed in the previous part.
Interested in ETP? Don't miss the next report.
Receive e-mail alerts for new research on ETP
The chart above shows growth in total debt for the four MLPs that we are discussing—Energy Transfer Partners (ETP), Enbridge Energy Partners (EEP), Plains All American Pipeline (PAA), and Genesis Energy (GEL).
Total debt tells us little, as it is not comparable with other companies due to the difference in the size of the companies. In the next part of this series, we’ll analyze how the debts of these MLPs compare with their respective equity values.