Energy Transfer LP reports Q3 EPS 32c, consensus 34c

Reports Q3 revenue $20.8B, consensus $22.3B. The company said, “In July 2024, Energy Transfer completed the acquisition of WTG Midstream Holdings, which added approximately 6,000 miles of complementary gas gathering pipelines and extended Energy Transfer’s network in the Midland Basin. The transaction also added nine gas processing plants with a total capacity of approximately 1.5 Bcf/d, and an additional 200 MMcf/d processing plant is currently under construction. In July 2024, Energy Transfer and Sunoco LP formed a joint venture combining their respective crude oil and produced water gathering assets in the Permian Basin. Energy Transfer serves as the operator of the joint venture. With forecasts suggesting that natural gas fueled power demand will increase significantly in the future, Energy Transfer is seeing increasing opportunities to provide natural gas to power plants and data centers spread across its natural gas footprint, from Arizona to Florida and from Texas to Michigan.”