
MarkWest Energy Partners LP MWE 4.5 NuStar Energy LP NS 3.2 Energy Transfer Equity LP ETE 3.1 Williams Partners LP WPZ 2.7 Regency Energy Partners LP RGP 2.6 Buckeye Partners LP BPL 2.3 Enbridge Energy Partners LP EEP Complete Story »
April 18 - Fitch Ratings assigns the following ratings to Regency Energy Partners , LP (RGP): --Initial Issuer Default Rating (IDR) 'BB'; --Senior unsecured notes 'BB'; --Revolving credit...
decreases propane demand and colder-than-usual winters boost natural gas volume. The acquisition of Regency Energy Partners' RGNC general partner transformed Energy Transfer Equity from a standard general partner master limited partnership into more of a
these pipelines could be optimized when combined with ETP's labyrinth of intrastate pipelines in Texas. Furthermore, Regency RGNC , whose general partner is owned by ETE, has a gathering-processing footprint in West Texas that could meld with Southern
Regency Energy Partners LP RGNC received authorization to list its units on the New York Stock Exchange, where they began trading Tuesday under their new ticker
and about $35 million in EBITDA, or $215 million annualized. This suggests that the multiple Energy Transfer and Regency RGNC paid for the acquisition is closer to 9 times EBITDA than the 11 times multiple we had initially assumed. Solid results from
Regency RGNC reported solid second-quarter earnings and raised its distribution for the first time in three years. The partnership generated
realize additional, leveraged upside on Southern Union's assets by dropping them down to Energy Transfer Partners or Regency RGNC and collecting accelerating incentive distributions over time. However, the higher offer knocks $1 off our merger-case fair
model it, we would be unsurprised to see ETE also announce a drop-down of Southern Union Gas Services to either ETP or Regency RGNC (we think Regency would be the better fit, but ETP has right of first refusal). SUGS could easily command at least $1
Union's west Texas gas gathering and processing assets as another likely drop-down, which we think is best suited to Regency RGNC . Based on our estimate for 2012 EBITDA, a drop-down at an 8 times multiple could garner another $1.2 billion for ETE