It's no secret that Energy Transfer Partners (NYSE:ETP) is coming up a little bit short of investors' expectations right now. The midstream master limited partnership has held off on increasing its unit distributions for some time now, much to the chagrin of unit-holders. Many are holding on to the hope that an increase will come next year, and I have created a premium report on Energy Transfer Partners to help investors examine its future.
Following is an excerpt from the report, which focuses on the partnership's management. It's just a sample of one section, but we hope you enjoy:
Energy Transfer Partners has really pushed to develop its portfolio, mainly through acquisitions. Integrating assets can prove challenging, but CEO Kelcy Warren and his management team have done it all before. ETP has successfully integrated eight major acquisitions since 2004. Warren has been at the helm of ETP since 2007, while COO Marshall McCrea has been with ETP since 1997.
Warren's compensation is tied directly to the performance of the company. He is the largest stakeholder, holding more than 20% of the common units of Energy Transfer Equity, which is the general partner in ETP. He volunteered to receive an annual salary of $1.00, plus the costs of payroll deductions and health and welfare benefits, which in 2011 amounted to a whopping $3,240. Make no mistake, Warren is a billionaire, but he will not create any headaches for investors over exorbitant pay packages.
Energy Transfers board of directors leaves a little to be desired. Of the six board members, five are current or former oil industry executives, one is a retired CEO of a school bus manufacturer, and they are all males. Clearly, you want to have industry experience on your board, but diversity is important as well. On the plus side, neither Warren nor McCrea, one-third of the board, sit on the compensation committee. That's an easy, clear indicator of board independence.
Looking for more guidance?
That was just a sample of our new premium report on Energy Transfer Partners. If you're weighing whether the company is a buy or sell, the report is an essential resource for investors seeking more information on the company. Not only that, but the report also comes with updated quarterly guidance and dives into upcoming catalysts on the horizon. To get started, simply click here now.
Fool contributor Aimee Duffy has no positions in the stocks mentioned above. The Motley Fool has no positions in the stocks mentioned above. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.