Articles Tagged with Energy Transfer Partners

shutterstock_27597505The investment attorneys with Gana Weinstein LLP continue to report on investor related losses in oil and gas and commodities related investments. Investors may have potential legal remedies due to unsuitable recommendations by their broker to invest in this speculative and volatile area. Our firm represents securities investors in claims against brokerage firms over sales practices related to the recommendations of oil & gas and commodities products such as exchange traded notes (ETNs), structured notes, private placements, master limited partnerships (MLPs), leveraged ETFs, mutual funds, and individual stocks.

Among the MLPs that have suffered significant declines is Sunoco Logistics Partners (NYSE:SXL). Sunoco Logistics Partners has plummeted in value by about 58% in value over the last year. According to the company’s website, Sunoco Logistics Partners owns and operates a logistics business with a diverse portfolio of crude oil, refined products, and natural gas liquids pipeline, terminalling and acquisition and marketing assets. Sunoco Logistics Partners’ general partner is a consolidated subsidiary of Energy Transfer Partners, L.P. (NYSE: ETP).

As a background, The MLP sector had totaled $600 billion in assets at its peak before collapsing to about $300 billion now. According to the Associated Press, investors have lost an astonishing $8 of every $10 they had invested since 2014. The research does not include losses from $37 billion of bonds sold by the partnerships in the five years since 2010 or losses from private placement partnerships. However, banks like Citigroup, Barclays, and Wells Fargo made an estimated $1.1 billion in fees for selling these products to investors.

shutterstock_175835072The investment attorneys with Gana Weinstein LLP continue to report on investor related losses in oil and gas and commodities related investments. Investors may have potential legal remedies due to unsuitable recommendations by their broker to invest in this speculative and volatile area. Energy Transfer Partners, L.P. (Ticker Symbol: ETP) is a Master Limited Partnership (MLP). About 86% of the total MLP securities market, a $490 billion sector, can be attributed to energy and natural resource companies. Energy Transfer Partners has declined about 52% in value in the last year and is trading at only $29.74 a share. Energy Transfer Partners business focuses in the natural gas midstream sector.

Our firm continues to file complaints on behalf of investors who have been overconcentrated in MLPs like Energy Transfer Partners. Our clients tell us similar stories that their advisors hyped MLPs as high yielding investments without significant discussion of risk. In a recent Associated Press article, common stories of how investors are pitched by their financial advisors on oil and gas private placements were reported on. Often times these products are pitched as ways to ride the boom in U.S. oil and gas production and receive steady streams of income.

In the past year, investors have lost $20 billion in publicly traded in master limited partnerships, publicly traded oil funds. This amounts to an astonishing $8 of every $10 they had invested, according to a report prepared for The Associated Press article. The research does not include losses from $37 billion of bonds sold by the partnerships in the five years since 2010 or losses from private placement partnerships. However, banks like Citigroup, Barclays, and Wells Fargo made an estimated $1.1 billion in fees for selling these products to investors.