Energy Transfer Operating, L.P. Announces Cash Distributions on Series C, D and E Preferred Units

Rhea-AI Summary

Energy Transfer Operating, L.P. has declared quarterly cash distributions for its preferred units: $0.4609375 for Series C, $0.4765625 for Series D, and $0.4750000 for Series E. These payments are due on February 16, 2021, to unitholders recorded by February 1, 2021. The company operates a vast diversified portfolio of energy assets across key U.S. basins, including natural gas midstream and transportation. It also holds interests in Lake Charles LNG Company and Sunoco LP, among others. For more details, visit energytransfer.com.

Positive

• Consistent cash distributions indicating stable financial health: $0.4609375 (Series C), $0.4765625 (Series D), $0.4750000 (Series E).
• Diverse portfolio of energy assets enhances revenue streams and mitigates risks.

Negative

• Potential impacts from COVID-19 and declining commodity prices could affect future performance.

Energy Transfer Operating, L.P. today announced the quarterly cash distribution of $0.4609375 per Series C Preferred Unit (NYSE: ETPprC), the quarterly cash distribution of $0.4765625 per Series D Preferred Unit (NYSE: ETPprD), and the quarterly cash distribution of $0.4750000 per Series E Preferred Unit (NYSE: ETPprE). These cash distributions will be paid on February 16, 2021 to Series C, Series D and Series E unitholders of record as of the close of business on February 1, 2021.

About Energy Transfer

Energy Transfer Operating, L.P. owns and operates one of the largest and most diversified portfolios of energy assets in the United States. Strategically positioned in all of the major U.S. production basins, its core operations 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; NGL fractionation; and various acquisition and marketing assets. Energy Transfer Operating, L.P. also owns Lake Charles LNG Company, as well as the general partner interests, the incentive distribution rights and 28.5 million common units of Sunoco LP (NYSE: SUN), and the general partner interest and 46.1 million common units of USA Compression Partners, LP (NYSE: USAC). Energy Transfer Operating, L.P.’s general partner is owned by Energy Transfer LP (NYSE: ET). For more information, visit the Energy Transfer website at www.energytransfer.com.

Forward Looking Statements

This press 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 are discussed in Energy Transfer Operating, L.P.’s Annual Report on Form 10-K and other documents filed from time to time with the Securities and Exchange Commission. In addition to the risks and uncertainties previously disclosed, the Partnership has also been, or may in the future be, impacted by new or heightened risks related to the COVID-19 pandemic and the recent decline in commodity prices, and we cannot predict the length and ultimate impact of those risks. Energy Transfer Operating, L.P. undertakes no obligation to update or revise any forward-looking statement to reflect new information or events.

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 100 percent of Energy Transfer Operating, L.P.’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 Operating, L.P.’s distributions to foreign investors are subject to federal tax withholding at the highest applicable effective tax rate. Nominees, and not Energy Transfer Operating, L.P., are treated as withholding agents responsible for withholding distributions received by them on behalf of foreign investors.

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

View source version on businesswire.com: https://www.businesswire.com/news/home/20210121005213/en/

FAQ

What are the cash distributions for Energy Transfer's preferred units?

Energy Transfer announced cash distributions of $0.4609375 for Series C, $0.4765625 for Series D, and $0.4750000 for Series E.

When will the cash distributions for Energy Transfer be paid?

The cash distributions will be paid on February 16, 2021, to holders recorded by February 1, 2021.

What does Energy Transfer operate?

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

What risks is Energy Transfer facing?

Energy Transfer may face risks related to the COVID-19 pandemic and recent declines in commodity prices.