- The report contains detailed information about Inergy, L.P. that gives an unrivalled in-depth knowledge about internal business-environment of the company: data about the owners, senior executives, locations, subsidiaries, markets, products, and company history.
- Another part of the report is a SWOT-analysis carried out for Inergy, L.P.. It involves specifying the objective of the company's business and identifies the different factors that are favorable and unfavorable to achieving that objective. SWOT-analysis helps to understand company’s strengths, weaknesses, opportunities, and possible threats against it.
- The Inergy, L.P. financial analysis covers the income statement and ratio trend-charts with balance sheets and cash flows presented on an annual and quarterly basis. The report outlines the main financial ratios pertaining to profitability, margin analysis, asset turnover, credit ratios, and company’s long-term solvency. This sort of company's information will assist and strengthen your company’s decision-making processes.
- In the part that describes Inergy, L.P. competitors and the industry in whole, the information about company's financial ratios is compared to those of its competitors and to the industry. The unique analysis of the market and company’s competitors along with detailed information about the internal and external factors affecting the relevant industry will help to manage your business environment. Your company’s business and sales activities will be boosted by gaining an insight into your competitors’ businesses.
- Also the report provides relevant news, an analysis of PR-activity, and stock price movements. The latter are correlated with pertinent news and press releases, and annual and quarterly forecasts are given by a variety of experts and market research firms. Such information creates your awareness about principal trends of Inergy, L.P. business.
About Inergy, L.P.
Inergy, L.P., through its subsidiaries, owns and operates a diverse retail and wholesale propane supply, marketing, and distribution business. The company also owns and operates a midstream business that includes four natural gas storage facilities (Stagecoach, Steuben, Thomas Corners, and Tres Palacios), a liquefied petroleum gas (LPG) storage facility (Finger Lakes LPG), a natural gas liquids (NGL) business, and a solution-mining and salt production company (US Salt).
As of September 30, 2010, the company sold and physically delivered 340.2 million gallons of propane to retail customers and 415.3 million gallons of propane to wholesale customers.
The companys operations reflect in two segments, Propane Operations and Midstream Operations.
Propane Operations Segment
Retail Propane: As of October 29, 2010, the company distributed propane to approximately 700,000 retail customers from 356 customer service centers in 33 states. It markets propane primarily in rural areas and also has various customers in suburban areas. It markets its propane primarily in the eastern half of the United States through its customer service centers using multiple regional brand names.
Transportation Assets and Truck Maintenance: The companys transportation assets are operated by L&L Transportation, LLC, a wholly-owned subsidiary of Inergy Propane. As of September 30, 2010, the company owned a fleet of 143 tractors; 234 transports; 1,341 bobtail and rack trucks; and 885 other service vehicles. In addition to supporting its retail and wholesale propane operations, its fleet is also used to deliver butane and ammonia for third parties and to distribute natural gas for various processors and refiners. It owns truck maintenance facilities located in Indiana, Ohio, and Mississippi. It also has a trucking operation located in California as part of its NGL business.
The company provides wholesale supply, marketing, and distribution services to independent dealers, multi-state marketers, petrochemical companies, refinery and gas processors, and various other NGL marketing and distribution companies, primarily in the midwest and southeast.
Midstream Operations Segment
Natural Gas Storage Operations
The companys Stagecoach natural gas storage facility has 26.25 bcf of working storage capacity of natural gas, maximum withdrawal capability of 500 MMcf/day, and maximum injection capability of 250 MMcf/day. Located approximately 150 miles northwest of New York City, the Stagecoach facility is connected to Tennessee Gas Pipeline Companys (TPG) 300 Line and the Millennium Pipeline.
The company owns Steuben, a natural gas storage facility located in Steuben County, New York, with 6.2 bcf of working gas capacity, maximum withdrawal capability of 60 MMcf/day, and maximum injection capability of 30 MMcf/day. Located approximately 30 miles northwest of Corning, New York, the Steuben facility is connected to Dominion Gas Transmissions Woodhull line.
The companys Thomas Corners, a 7 bcf (working) natural gas storage facility located in Steuben County, New York. This facility has maximum withdrawal and injection capabilities of 140 MMcf/day and 70 MMcf/day, respectively. Thomas Corners is connected with the Tennessee Gas Pipeline Companys Line 400 and Columbia Gas Transmissions A-5 line.
In October 2010, the company acquired the Tres Palacios natural gas storage facility located in Matagorda County, Texas. Tres Palacios is a salt dome natural gas storage facility with approximately 38.4 bcf of working gas capacity (Caverns 1-3). Located approximately 100 miles southwest of Houston, Tres Palacios is connected to approximately 10 intrastate and interstate pipelines offering connectivity to multiple demand markets, including the Houston and San Antonio metropolitan areas and the broader Texas markets, as well as markets in the northeast, midwest, southeast, Florida; Mid-Atlantic United States; and Mexico.
LPG Storage Operations
The companys Finger Lakes LPG facility, a 1.7 million barrel salt cavern storage facility located near Bath, New York, approximately 210 miles northwest of New York City and approximately 60 miles from its Stagecoach facility. The facility is supported by both rail and truck terminals capable of loading and unloading 20-23 rail cars per day and 17 truck transports per day. The Finger Lakes LPG expansion project is intended to convert certain of the caverns at US Salt into LPG storage with a capacity of approximately 5 million barrels.
The companys NGL business is located near Bakersfield, California. The facility includes a 25.0 MMcf/day natural gas processing plant; a 12,000 bpd NGL fractionation plant; an 8,000 bpd butane isomerization plant; NGL rail and truck terminals; a 24.0 million gallon NGL storage facility; and NGL transportation/marketing operations.
The companys US Salt facility is located in Schuyler County, New York, and produces salt using solution mining and mechanical evaporation. The facility is located between its Stagecoach and Steuben facilities. The facility produces and sells approximately 300,000 tons of salt each year. In addition to the 5 million barrel Finger Lakes LPG storage expansion that it is developing, there also exists cavern space that it intends to convert to approximately 10 bcf of natural gas storage.
The companys major suppliers include BP Amoco Corp. and Sunoco, Inc.
The company was founded in 1996. It was formerly known as Inergy Holdings, L.P. and changed its name to Inergy, L.P. on November 6, 2010.
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1. INERGY, L.P. COMPANY PROFILE
1.1. Key facts
1.2. Financial Performance
1.3. Key Executives
1.4. Ownership and Major Holders
1.5. Company History
2. INERGY, L.P. BUSINESS OVERVIEW
2.1. Business Description
2.2. Major Products and Services
2.3. Markets and Sales Activities
2.4. Locations, Subsidiaries, Operating Units
3. INERGY, L.P. SWOT ANALYSIS
4. INERGY, L.P. FINANCIAL ANALYSIS
4.1. Financial Statements
4.1.1. Income Statement
4.1.2. Balance Sheet
4.1.3. Cash Flow
4.2. Financial Ratios
4.2.2. Margin Analysis
4.2.3. Asset Turnover
4.2.4. Credit Ratios
4.2.5. Long-Term Solvency
4.2.6. Growth Over Prior Year
4.2.7. Financial Ratios Charts
4.3. Stock Market Snapshot
5. INERGY, L.P. COMPETITORS AND INDUSTRY ANALYSIS
5.1. Inergy, L.P. Direct Competitors
5.2. Comparison of Inergy, L.P. and Direct Competitors Financial Ratios
5.3. Comparison of Inergy, L.P. and Direct Competitors Stock Charts
5.4. Inergy, L.P. Industry Analysis
5.4.1. Energy Industry Snapshot
5.4.2. Inergy, L.P. Industry Position Analysis
6. INERGY, L.P. NEWS & EVENTS
6.1. News & PR Activity Analysis
6.2. IR Corporate News
6.3. Marketing News
6.4. Corporate Events
7. INERGY, L.P. EXPERTS REVIEW1
7.1. Experts Opinion
7.2. Experts Estimates
8. INERGY, L.P. ENHANCED SWOT ANALYSIS2
9. UNITED STATES PESTEL ANALYSIS2
9.1. Political Factors
9.2. Economic Factors
9.3. Social Factors
9.4. Technological Factors
9.5. Environmental Factors
9.6. Legal Factors
10. INERGY, L.P. IFE, EFE, IE MATRICES2
10.1. Internal Factor Evaluation Matrix
10.2. External Factor Evaluation Matrix
10.3. Internal External Matrix
11. INERGY, L.P. PORTER FIVE FORCES ANALYSIS2
12. INERGY, L.P. VRIO ANALYSIS2
APPENDIX: RATIO DEFINITIONS
LIST OF TABLES
Inergy, L.P. Key Facts
Income Statement Key Figures
Balance Sheet Key Figures
Cash Flow Statement Key Figures
Financial Performance Abbreviation Guide
Inergy, L.P. Key Executives
Key Executives Biographies1
Key Executives Compensations1
Inergy, L.P. Major Shareholders
Inergy, L.P. History
Inergy, L.P. Products
Revenues by Segment
Revenues by Region
Inergy, L.P. Offices and Representations
Inergy, L.P. SWOT Analysis
Yearly Income Statement Including Trends
Income Statement Latest 4 Quarters Including Trends
Yearly Balance Sheet Including Trends
Balance Sheet Latest 4 Quarters Including Trends
Yearly Cash Flow Including Trends
Cash Flow Latest 4 Quarters Including Trends
Inergy, L.P. Profitability Ratios
Margin Analysis Ratios
Asset Turnover Ratios
Long-Term Solvency Ratios
Financial Ratios Growth Over Prior Year
Inergy, L.P. Capital Market Snapshot
Inergy, L.P. Direct Competitors Key Facts
Direct Competitors Profitability Ratios
Direct Competitors Margin Analysis Ratios
Direct Competitors Asset Turnover Ratios
Direct Competitors Credit Ratios
Direct Competitors Long-Term Solvency Ratios
Energy Industry Statistics
Inergy, L.P. Industry Position
Company vs. Industry Income Statement Analysis
Company vs. Industry Balance Sheet Analysis
Company vs. Industry Cash Flow Analysis
Company vs. Industry Ratios Comparison
Inergy, L.P. Consensus Recommendations1
Analyst Recommendation Summary1
Price Target Summary1
Experts Recommendation Trends1
Revenue Estimates Analysis1
Earnings Estimates Analysis1
Revenue Estimates Trend1
Earnings Estimates Trend1
LIST OF FIGURES
Inergy, L.P. Annual Revenues in Comparison with Cost of Goods Sold and Gross Profit
Profit Margin Chart
Operating Margin Chart
Return on Equity (ROE) Chart
Return on Assets (ROA) Chart
Debt to Equity Chart
Current Ratio Chart
Inergy, L.P. 1-year Stock Charts
Inergy, L.P. 5-year Stock Charts
Inergy, L.P. vs. Main Indexes 1-year Stock Chart
Inergy, L.P. vs. Direct Competitors 1-year Stock Charts
Inergy, L.P. Article Density Chart
1 – Data availability depends on company’s security policy.
2 – These sections are available only when you purchase a report with appropriate additional types of analyses.
The complete financial data is available for publicly traded companies.
SWOT, which stands for Strengths, Weaknesses, Opportunities and Threats, is an analytical framework that identifies the internal and external factors that are favorable and unfavorable for a company.
Enhanced SWOT Analysis
Enhanced SWOT is a 3×3 grid that arranges strengths, weaknesses, opportunities and threats into one scheme:
- How to use the strengths to take advantage of the opportunities?
- How to use the strengths to reduce likelihood and impact of the threats?
- How to overcome the weaknesses that obstruct taking advantage of the opportunities?
- How to overcome the weaknesses that can make the threats a reality?
Upon answering these questions a company can develop a project plan to improve its business performance.
PESTEL (also termed as PESTLE) is an ideal tool to strategically analyze what influence different outside factors – political, economic, sociocultural, technological, environmental and legal – exert on a business to later chart its long term targets.
Being part of the external analysis when carrying out a strategic assessment or performing a market study, PESTEL gives an overview of diverse macro-environmental factors that any company should thoughtfully consider. By perceiving these outside environments, businesses can maximally benefit from the opportunities while minimizing the threats to the organization.
Key Factors Examined by PESTEL Analysis:
- Political – What opportunities and pressures are brought by political bodies and what is the degree of public regulations’ impact on the business?
- Economic – What economic policies, trends and structures are expected to affect the organization, what is this influence’s degree?
- Sociological – What cultural and societal aspects will work upon the demand for the business’s products and operations?
- Technological – What impact do the technological aspects, innovations, incentives and barriers have on the organization?
- Environmental – What environmental and ecological facets, both locally and farther afield, are likely to predetermine the business?
- Legal – What laws and legislation will exert influence on the style the business is carried out?
IFE, EFE, IE Matrices
The Internal Factor Evaluation matrix (IFE matrix) is a strategic management tool helping audit or evaluate major weaknesses and strengths in a business’s functional areas. In addition, IFE matrix serves as a basis for identifying and assessing relationships amongst those areas. The IFE matrix is utilised in strategy formulation.
The External Factor Evaluation matrix (EFE matrix) is a tool of strategic management that is typically utilised to assess current market conditions. It is an ideal instrument for visualising and prioritising the threats and opportunities a firm is facing.
The essential difference between the above mentioned matrices lies in the type of factors incorporated in the model; whilst the latter is engaged in internal factors, the former deals exceptionally with external factors – those exposed to social, political, economic, legal, etc. external forces.
Being a continuation of the EFE matrix and IFE matrix models, the Internal External matrix (IE matrix) rests upon an investigation of external and internal business factors integrated into one suggestive model.
Porter Five Forces Analysis
The Porter’s five forces analysis studies the industry of operation and helps the company find new sources of competitive advantage. The analysis surveys an industry through five major questions:
- What composes a threat of substitute products and services?
- Is there a threat of new competitors entering the market?
- What is the intensity of competitive rivalry?
- How big is the bargaining power of buyers?
- How significant is the bargaining power of suppliers?
VRIO stands for Value, Rarity, Imitability, Organization. This analysis helps to evaluate all company’s resources and capabilities and bring them together into one aggregate table that includes:
- Tangible resources
- Intangible resources
- Innovation and Creativity
- Organizational capabilities
The result of the analysis gives a clear picture of company’s competitive and economic implications, answering the questions if the resources mentioned above are:
- Costly to imitate?
- Organized properly?