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Energy Transfer's (ETP) Bayou Bridge Pipeline Work Stalled
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Energy Transfer Partners, L.P. recently witnessed a halt in its oil pipeline construction in Louisiana. The partnership's Bayou Bridge crude oil pipeline's permit was revoked by a federal judge of the state. The ruling addresses the conflicts between the pipeline operators and environmentalists.
Per U.S. District Judge Shelly Dick, the Army Corps of Engineers is now required to check its permission, which it provided to Energy Transfer Partners for construction of the pipeline through the Atchafalaya Basin.
Energy Transfer Partners has 60% operating interest in the pipeline while the rest is owned by the downstream company, Phillips 66 (PSX - Free Report) . The 162-mile pipeline, designed to transport light and heavy crude oil, is expected to possess a shipping capacity of 480,000 barrels per day (BPD). Completion of the pipeline is expected to make shipping of crudes from Bakken Shale oilfields to Louisiana refineries easier. Among several future growth projects of the partnership, the pipeline is scheduled to come online in the second half of the year and boost the partnership’s cash flow growth.
Notably, the second phase of the pipeline is under construction, while the first phase, which connects Nederland, TX to Lake Charles, LA segment, went into service in April 2016.
About the Partnership
Energy Transfer Partners is one of the largest master limited partnerships, having one of the most diversified portfolios of energy assets in the United States. The partnership is present in all the major production basins in the United States. It is headquartered in Dallas, TX.
Price Performance
Energy Transfer has lost 23.8% in the last year compared with 20.2% loss of its industry.
Zacks Rank and Stocks to Consider
Energy Transfer Partners has a Zacks Rank #3 (Hold).
Based in Oklahoma City, OK, Continental Resources is an upstream energy company. Its revenues for first-quarter 2018 are anticipated to improve 54.1% from the prior-year quarter. The company witnessed a positive average earnings surprise of 64.9% in the trailing four quarters.
Irving, TX-based Pioneer Natural Resources is an independent oil and gas exploration and production company. Its revenues for first-quarter 2018 are expected to improve 22.8% from the year-ago quarter. For 2018, the bottom line is anticipated to be up 166.2%.
Zacks Top 10 Stocks for 2018
In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-hold tickers for the entirety of 2018?
Last year's 2017 Zacks Top 10 Stocks portfolio produced double-digit winners, including FMC Corp. and VMware which racked up stellar gains of +67.9% and +61%. Now a brand-new portfolio has been handpicked from over 4,000 companies covered by the Zacks Rank. Don’t miss your chance to get in on these long-term buys.
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Energy Transfer's (ETP) Bayou Bridge Pipeline Work Stalled
Energy Transfer Partners, L.P. recently witnessed a halt in its oil pipeline construction in Louisiana. The partnership's Bayou Bridge crude oil pipeline's permit was revoked by a federal judge of the state. The ruling addresses the conflicts between the pipeline operators and environmentalists.
Per U.S. District Judge Shelly Dick, the Army Corps of Engineers is now required to check its permission, which it provided to Energy Transfer Partners for construction of the pipeline through the Atchafalaya Basin.
Energy Transfer Partners has 60% operating interest in the pipeline while the rest is owned by the downstream company, Phillips 66 (PSX - Free Report) . The 162-mile pipeline, designed to transport light and heavy crude oil, is expected to possess a shipping capacity of 480,000 barrels per day (BPD). Completion of the pipeline is expected to make shipping of crudes from Bakken Shale oilfields to Louisiana refineries easier. Among several future growth projects of the partnership, the pipeline is scheduled to come online in the second half of the year and boost the partnership’s cash flow growth.
Notably, the second phase of the pipeline is under construction, while the first phase, which connects Nederland, TX to Lake Charles, LA segment, went into service in April 2016.
About the Partnership
Energy Transfer Partners is one of the largest master limited partnerships, having one of the most diversified portfolios of energy assets in the United States. The partnership is present in all the major production basins in the United States. It is headquartered in Dallas, TX.
Price Performance
Energy Transfer has lost 23.8% in the last year compared with 20.2% loss of its industry.
Zacks Rank and Stocks to Consider
Energy Transfer Partners has a Zacks Rank #3 (Hold).
A few better-ranked stocks in the oil and energy sector are Continental Resources, Inc. and Pioneer Natural Resources Co. (PXD - Free Report) , both sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Based in Oklahoma City, OK, Continental Resources is an upstream energy company. Its revenues for first-quarter 2018 are anticipated to improve 54.1% from the prior-year quarter. The company witnessed a positive average earnings surprise of 64.9% in the trailing four quarters.
Irving, TX-based Pioneer Natural Resources is an independent oil and gas exploration and production company. Its revenues for first-quarter 2018 are expected to improve 22.8% from the year-ago quarter. For 2018, the bottom line is anticipated to be up 166.2%.
Zacks Top 10 Stocks for 2018
In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-hold tickers for the entirety of 2018?
Last year's 2017 Zacks Top 10 Stocks portfolio produced double-digit winners, including FMC Corp. and VMware which racked up stellar gains of +67.9% and +61%. Now a brand-new portfolio has been handpicked from over 4,000 companies covered by the Zacks Rank. Don’t miss your chance to get in on these long-term buys.
Access Zacks Top 10 Stocks for 2018 today >>