Boards of ETP, ETE maintain 3Q cash distribution

DALLAS (AP) — The boards of Energy Transfer Partners LP and Energy Transfer Equity LP on Wednesday maintained the quarterly cash distribution for each partnership.

The board of Energy Transfer Partners, a natural gas and propane gas distributor, held to its third-quarter distribution of 89.375 cents per unit on Energy Transfer Partners common units. The cash distribution will be paid on Nov. 16 to unitholders of record as of the close of business on Nov. 9.

The board of Energy Transfer Equity, which owns the general partner of natural gas distributor Energy Transfer Partners LP, maintained its quarterly distribution of 53.5 cents per unit. The distribution will be paid on Nov. 19 to unitholders of record as of the close of business Nov. 9.

Martin Salinas, CFO of Energy Transfer Partners, said the company's liquidity has been further strengthened by the Texas Independence Pipeline and the second zone of the MidContinent Express Pipeline that were placed in service in the most recent quarter.

He added, "We have felt the impact of lower natural gas prices and weaker price differentials mainly across Texas."

Shares of Energy Transfer Partners fell $1.23, or 2.8 percent, to $42.17 in afternoon trading. Energy TransferEquity shares dropped $1.20, or 4.1 percent, to $28.25.