A natural gas gathering pipeline of Energy Transfer Partners, L.P. (ETP - Free Report) recently suffered a blast at the Beaver County, PA. While the incident resulted in the evacuation of many local residents, thankfully nobody got injured from the explosion. One home, located nearly 500 feet from the occurrence of the blast, was destroyed in the fire.
The 100-mile long 24-inch carrier, named Revolution Pipeline, is responsible for gathering natural gas from wellheads and shipping it to the Rover pipeline and Mariner East 2 natural gas liquids (NGL) line. The construction work of the Revolution Pipeline, which originates from the northern Butler County, was completed in February and it came online on Sep 3, after the Rover pipeline and Mariner East 2 commenced operations.
Energy Transfer closed the valves on the Revolution Pipeline following the explosion that occurred before 5 am on Monday. Although a thorough inspection to find out the reason behind the blast is in the process, initially it was suspected that the major rainfall in the region caused a landslide, which might have contributed to the incident.
Energy Transfer has gained 21.7% in the past year compared with 1% collective growth of the industry it belongs to.
Zacks Rank and Stocks to Consider
The Dallas, TX-based partnership carries a Zacks Rank #3 (Hold). Investors interested in the energy sector can opt for some better-ranked stocks like Petroleo Brasileiro S.A. or Petrobras (PBR - Free Report) , Subsea 7 S.A. (SUBCY - Free Report) and Helix Energy Solutions Group, Inc. (HLX - Free Report) , each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Rio de Janeiro, Brazi-based Petrobras is an integrated energy company. The company’s top line for 2018 is likely to improve 7.5% year over year. In the last four reported quarters, it delivered an average positive earnings surprise of 10.4%.
Luxembourg-based Subsea is an oilfield service providing company. In the last four reported quarters, the company delivered an average positive earnings surprise of 318.6%.
Houston, TX-based Helix Energy’s bottom line surpassed the consensus mark in three of the last four quarters, with the average positive earnings surprise being 66.7%.
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