Energy Transfer Equity, L.P.

Dallas, TX United States

  (NYSE: ETE)

Company Description

Energy Transfer Equity transfers some of its equity in order to get more out of its midstream energy assets. The company gets most of its revenues by acting as the general partner of Energy Transfer Partners, which sells about 570 million gallons of propane a year to more than 1 million customers from 440 service centers in 40 states. In 2012 the company bought diversified gas player Southern Union for $9.4 billion (including $3.7 billion in debt). The deal, which made Energy Transfer Equity one of the largest natural gas infrastructure companies in the US, was upped from $7.9 billion to thwart a counter offer by The Williams Companies.