Natural gas pipeline operator Energy Transfer Partners LP ETP reported first-quarter 2016 loss from continuing operations of 15 cents per limited partner unit, narrower than the year-ago quarter loss of 17 cents. The Zacks Consensus Estimate was pegged at a profit of 25 cents.The year-over-year improvement in the bottom line was supported by a considerable reduction in total expenses. Following this, the partnership rose almost 9% on the NYSE. However, the positives were offset partially by lower contribution from midstream operations. Energy Transfer Partners LP (ETP) Street EPS & Surprise Percent - Last 5 Quarters | FindTheCompanyQuarterly revenues decreased more than 56% year over year to $4,481 million and widely missed the Zacks Consensus Estimate of $8,749 million.Quarterly Cash DistributionLast month, Energy Transfer Partners announced first-quarter distribution of $1.055 per unit ($4.22 per unit annualized), representing a year-over-year increase of 3.9%. The distribution remained unchanged from the prior quarter.EBITDA & Operating Income Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) for the quarter were $1,412 million, up from $1,366 million a year ago.The partnership reported operating income of $614 million, higher than $608 million in first-quarter 2015. Total ExpenseEnergy Transfer Partners reported total expenses of $3,867 million for first-quarter 2016, reflecting a year-over-year decline of 60%.Distributable Cash FlowEnergy Transfer Partners’ distributable cash flow came in at $956 million, higher than the prior-year quarter level of $927 million.Capital ExpenditureMaintenance capital expenditure totaled $59 million compared with $84 million in the first quarter of 2015.Balance SheetAs of Mar 31, 2016, Energy Transfer Partners had long-term debt (less current maturities) of $26,769 million. Debt-to-capitalization ratio was about 50%. Zacks Rank & Other StocksEnergy Transfer Partners currently carries a Zacks Rank #3 (Hold).Some better-ranked players in the energy sector are PetroChina Co. Ltd. PTR, Braskem S.A. BAK and Pembina Pipeline Corporation PBA. Each of these stocks sports a Zacks Rank #1 (Strong Buy).Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report ENERGY TRAN PTR (ETP): Free Stock Analysis Report PETROCHINA ADR (PTR): Free Stock Analysis Report BRASKEM SA (BAK): Free Stock Analysis Report PEMBINA PIPELN (PBA): Free Stock Analysis Report To read this article on Zacks.com click here.