ADVFN - Advanced Financial Network.
HOME» NYSE » S » SUG Stock Price » SUG Stock News

Southern Union Share News

 Southern Union Co. (new) Stock Price
SUG Stock Price
 Southern Union Co. (new) Stock Chart
SUG Stock Chart
 Southern Union Co. (new) Stock News
SUG Stock News
 Southern Union Co. (new) Company Information
SUG Company Information
 Southern Union Co. (new) Stock Trades
SUG Stock Trades

INSIDE TRACK: Energy Transfer Equity Chairman Buys Up More Units

By Maxwell Murphy Of DOW JONES NEWSWIRES NEW YORK -(Dow Jones)- Kelcy Warren, the chairman of Energy Transfer Equity LP (ETE), is so confident in his company's prospects that he has almost all of his net worth invested in its units. Last week, Warren spent another $31.6 million to buy 750,000 ETE units, bringing his ownership stake in the Dallas-based limited partnership to just under 20% worth nearly $2 billion. ETE owns two other public partnerships that process and distribute natural gas. So far, Warren's investment, made at an average purchase price of $42.18 per unit, has looked savvy. Since completing his purchase, ETE units have risen 6.2%. On Wednesday, ETE fell 13 cents, or 0.29%, to $44.78 each. Warren's purchases come as ETE maneuvers to buy Southern Union Co. (SUG), a competitor that agreed last week to ETE's sweetened, cash-and-unit deal that valued Southern Union at $40 per share. ETE's offer values Southern Union at nearly $9 billion on an enterprise basis, a measure that combines equity and debt. A rival suitor Williams Cos. (WMB), which earlier offered $39 a share in cash, is expected to counter with a new bid. A spokesman for Williams declined to comment on whether Williams would raise its offer, saying only that the company is exploring its options. Getting the deal done will add to ETE's capacity, allowing it to participate in an expected boom in natural-gas usage. Even if the deal isn't successful, ETE will likely benefit as the U.S. increasingly turns to natural gas for electricity generation. As demand for natural gas rises, companies that serve the industry, like ETE, are likely to benefit. Five of seven analysts tracked by FactSet research rate ETE buy or overweight, while two rate the units at hold. The average price target on ETE is $48.67, a roughly 8.7% premium to recent ETE prices. The units, which went public at $21 each in early 2006, hit an all-time high of $47.34 apiece last month, after recovering from an all-time low of $14.92 near the end of 2008. Warren says his ETE purchases, which were disclosed in regulatory filings, are only tangentially related to the Southern Union deal. He says the proposed acquisition, which has been complicated by the back-and-forth with Williams, caused his company's units to trade "on the noise," rather than the fundamentals. In an interview arranged by the company, Warren noted that he has bought significant blocks of ETE in the past. He says he only buys when he gets the approval of his general counsel--which isn't often given the strict requirements for when insiders can buy and sell--and that he's staying in ETE for the long haul. "I can't think of a better place to put my money," Warren, 55 years old, told Dow Jones Newswires. He praised ETE's "nice yield," currently around 5.6% annually, and ETE's potential for growth with or without Southern Union. He added that he'll "never sell" any of his ETE stake. Warren's holdings generate a payout--a distribution similar to a dividend--of more than $100 million a year at current distribution levels, which can vary with the partnership's earnings. ETE owns the general partners of Energy Transfer Partners LP (ETP) and Regency Energy Partners LP (RGNC). Partnerships like these are formed to limit or eliminate federal and state tax burdens, instead paying out most or all of their profits to the unit-holders and partners, who in turn pay taxes on those distributions. Units are akin to common stock, but carry different tax responsibilities and voting rights as defined under the issuing partnership. -By Maxwell Murphy, Dow Jones Newswires; 212-416-2171; maxwell.murphy@dowjones.com

Stock News for Southern Union (SUG)
DateTimeHeadline
02/15/201217:41:12Energy Transfer Partners 4Q Profit Slips 8.9%; ETE Net Up 13%
01/09/201210:52:24Energy Transfer Partners to Issue $2 Billion in US Debt Markets...
12/09/201114:41:41Southern Union Shareholders Approve Energy Transfer Equity Deal
10/28/201118:27:19Williams Takes Another Look At Southern Union Assets - Filing
10/17/201117:54:08Natural Gas Pipelines Deals May Touch Off More M&A Activity
10/12/201118:58:34Energy Transfer Rejects Williams Request For Southern Assets
08/17/201111:04:48Southern Union Spurns Williams Takeover Offer Of $44 A Share
08/16/201117:38:46Williams Affirms $44/Share Offer For Southern Union
08/15/201120:35:49WSJ: Big Investment Funds Mixed On Approach To Bank Investments...
08/15/201118:51:36Harbinger Reports More Energy And Gadgets But No NY Times Stake
08/15/201118:19:04Icahn Reports New Stakes In Vector Group, El Paso - Filing
08/09/201111:14:47Williams CEO: Evaluating All Options In Bid War For Rival Southern...
08/03/201116:58:26Williams Cos 2Q Profit Up 23% On Performance
07/19/201113:32:54Energy Transfer, Southern Union Reach New $5.7 Billion Deal
07/14/201110:01:36Williams CEO: Hope To Make Southern Union Merger Agreement By...
07/14/201108:59:47Williams Cos Raises Bid For Southern Union To About $5.6 Billion
07/14/201108:59:34INSIDE TRACK: Energy Transfer Equity Chairman Buys Up More Units
07/05/201115:17:37MARKET SNAPSHOT: U.S. Stocks Retreat After Best Week In Two Years
07/05/201107:25:14CORRECT: Energy Transfer Revises Deal To Buy Southern Union With...
07/05/201107:07:01Energy Transfer Revises Deal To Buy Southern Union With Sweetened...

Southern Union and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad