ETP Energy Transfer Partners, L.P. Common Units Representing Limited Partner Interests (delisted)

Energy Transfer Equity LP and affiliate Energy Transfer Partners LP each reported slumping fourth-quarter revenue that came in well below analysts' expectations.

Energy Transfer Equity's common units fell 6.6% to $6.70 in recent after-hours trading as per-unit earnings also missed expectations.

Energy Transfer Partners' common units, meanwhile, dropped 5.3% to $28.15 in recent after-hours trading as the company posted a per-unit loss, while analysts had been looking for a per-unit profit.

Over all, Energy Transfer Equity reported a profit of $314 million, or 30 cents a common unit, up from $113 million, or 11 cents a unit, a year earlier. Revenue slumped 29% to $9.54 billion.

Analysts polled by Thomson Reuters expected per-unit profit of 36 cents and revenue of $13.04 billion.

Energy Transfer Partners reported a profit of $46 million, down from $108 million a year earlier. The per-unit loss, which reflects general partner interests, was 68 cents, compared with a year-earlier per-unit loss of 28 cents. Revenue plunged 53% to $5.83 billion.

Analysts polled by Thomson Reuters expected per-unit profit of 43 cents and revenue of $8.95 billion.

Energy Transfer is in the process of acquiring Williams Cos. in a $32.6 billion deal, though in recent months investors have faced a series of concerns that have raised doubts about whether the deal will close, including an announcement earlier this month that Energy Transfer finance chief Jamie Welch was leaving the company. Williams last week reiterated that its board is unanimously committed to the completion of the merger.

Many pipeline companies had said they were mostly insulated from low energy prices because most of their revenue is based on fixed fees. However, in recent quarters, signs that the pipeline industry isn't immune to the commodities rout have slammed the sector's stocks.

Last week, Williams reported that it swung to an unexpected fourth-quarter loss amid a big write-down, mostly related to low commodities prices and weaker market values for affiliate Williams Partners LP and its peers.

Write to Tess Stynes at tess.stynes@wsj.com

(END) Dow Jones Newswires

February 24, 2016 18:55 ET (23:55 GMT)

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