If 2006 turns out to be the best year for midstream companies to monetize their assets, the Dallas-based Energy Transfer group will be one of those that showed the way.

Energy Transfer Equity (ETE), the partnership that controls Energy Transfer Partners, reported last week that income from continuing operations was up 77% for the quarter ending May 31, the third quarter of its fiscal year.

ETE went public in February. It owns the general partner interests, 50% of the incentive distribution rights and approximately 33% of the outstanding limited partner ...