Energy Transfer LP Announces Cash Distributions on Series C, D and E Preferred Units

Rhea-AI Summary

Energy Transfer LP (NYSE: ET) announced quarterly cash distributions for its Series C, D, and E Preferred Units. Unitholders will receive $0.4609375 for Series C, $0.4765625 for Series D, and $0.4750000 for Series E, payable on May 15, 2023, to those on record by May 1, 2023. Energy Transfer operates one of the U.S.'s largest energy asset portfolios, with 120,000 miles of pipelines across 41 states. Its operations encompass natural gas midstream, crude oil, and NGL transportation and storage. The company also holds significant interests in Sunoco LP (NYSE: SUN) and USA Compression Partners, LP (NYSE: USAC). Investors should note that distributions to foreign investors are subject to federal tax withholding.

Positive

• Quarterly cash distributions announced for Preferred Units: $0.4609375 (C), $0.4765625 (D), $0.4750000 (E).
• Strong operational foundation with approximately 120,000 miles of pipeline in 41 states.

Negative

• Distributions to foreign investors are subject to federal tax withholding.

DALLAS--(BUSINESS WIRE)-- Energy Transfer LP (“ET”) today announced the quarterly cash distribution of $0.4609375 per Series C Preferred Unit (NYSE: ETprC), the quarterly cash distribution of $0.4765625 per Series D Preferred Unit (NYSE: ETprD), and the quarterly cash distribution of $0.4750000 per Series E Preferred Unit (NYSE: ETprE). These cash distributions will be paid on May 15, 2023 to Series C, Series D and Series E unitholders of record as of the close of business on May 1, 2023.

Energy Transfer LP (NYSE: ET) owns and operates one of the largest and most diversified portfolios of energy assets in the United States, with approximately 120,000 miles of pipeline and associated energy infrastructure. Energy Transfer’s strategic network spans 41 states with assets in all of the major U.S. production basins. Energy Transfer is a publicly traded limited partnership with core operations that include complementary natural gas midstream, intrastate and interstate transportation and storage assets; crude oil, natural gas liquids (“NGL”) and refined product transportation and terminalling assets; and NGL fractionation. Energy Transfer also owns Lake Charles LNG Company, as well as the general partner interests, the incentive distribution rights and approximately 34% of the outstanding common units of Sunoco LP (NYSE: SUN), and the general partner interests and approximately 47% of the outstanding common units of USA Compression Partners, LP (NYSE: USAC). For more information, visit the Energy Transfer LP website at www.energytransfer.com.

Forward Looking Statements

This news release may include certain statements concerning expectations for the future that are forward-looking statements as defined by federal law. Such forward-looking statements are subject to a variety of known and unknown risks, uncertainties, and other factors that are difficult to predict and many of which are beyond management’s control. An extensive list of factors that can affect future results, including future distribution levels and leverage ratio, are discussed in the Partnership’s Annual Report on Form 10-K and other documents filed from time to time with the Securities and Exchange Commission. The Partnership undertakes no obligation to update or revise any forward-looking statement to reflect new information or events.

Qualified Notice

This release serves as qualified notice to nominees as provided for under Treasury Regulation Section 1.1446-4(b)(4) and (d). Please note that one hundred percent (100%) of Energy Transfer LP’s distributions to foreign investors are attributable to income that is effectively connected with a United States trade or business. Accordingly, all of Energy Transfer LP’s distributions to foreign investors are subject to federal tax withholding at the highest applicable effective tax rate. Nominees, and not Energy Transfer LP, are treated as withholding agents responsible for withholding distributions received by them on behalf of foreign investors. For purposes of Treasury Regulation section 1.1446(f)-4(c)(2)(iii), brokers and nominees should treat one hundred percent (100%) of the distributions as being in excess of cumulative net income for purposes of determining the amount to withhold.

The information contained in this press release is available on our website at www.energytransfer.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230420005766/en/

Investor Relations:

Bill Baerg

Brent Ratliff

Lyndsay Hannah

214-981-0795

Media Relations:

Vicki Granado

214-840-5820

Source: Energy Transfer LP

FAQ

What are the quarterly cash distributions for Energy Transfer LP (ET) in May 2023?

Energy Transfer LP (ET) announced cash distributions of $0.4609375 for Series C, $0.4765625 for Series D, and $0.4750000 for Series E, payable on May 15, 2023.

When will Energy Transfer LP (ET) make cash distributions to unitholders?

Cash distributions will be made on May 15, 2023, to unitholders of record by May 1, 2023.

What is the significance of the cash distributions for Energy Transfer LP (ET)?

The cash distributions reflect Energy Transfer's commitment to returning value to its unitholders and its strong operational performance.

How does Energy Transfer LP (ET) manage tax obligations for foreign investors?

Distributions to foreign investors are subject to federal tax withholding at the highest applicable effective tax rate.

What are the primary operations of Energy Transfer LP (ET)?

Energy Transfer LP operates a diversified portfolio of energy assets, including natural gas midstream and crude oil transportation.