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Energy Transfer LP | 7.600% Series E Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units (ET.PRE)

Prospectus excerpt:  We are offering 28,000,000 of our 7.600% Series E Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units, liquidation preference $25.00 per unit (the ìSeries E Preferred Unitsî). Distributions on the Series E Preferred Units are cumulative from and including the date of original issue and will be payable quarterly in arrears on the 15th day of February, May, August and November of each year, commencing on August 15, 2019, in each case when, as, and if declared by our general partner. A pro-rated initial distribution on the Series E Preferred Units offered hereby will be payable on August 15, 2019 in an amount equal to approximately $0.58056 per Series E Preferred Unit. Distributions on the Series E Preferred Units will be payable out of amounts legally available therefor from and including the date of original issue to, but excluding, May 15, 2024, at a rate equal to 7.600% per annum of the stated liquidation preference. On and after May 15, 2024, distributions on the Series E Preferred Units will accumulate for each distribution period at a percentage of the $25.00 liquidation preference equal to an annual floating rate of the three-month LIBOR plus a spread of 5.161% per annum.

Full Prospectus PDF », Secondary Prospectus PDF », ET Page »

Series:E
Alternate symbology:ET-E, ET-PE, ETprE
Redeemable?:Yes
Call Date:5/15/2024
Perpetual?:Yes
Cumulative?:Yes
Shares Offered:28,000,000
Liquidation Preference:$25.00
Recent Market Price:$25.40
Premium to Liquidation Preference:
(More Preferreds Trading at a Premium »)
$0.40 (1.60%)
Annualized Dividend:1.9
Recent Ex-Date:4/30/2024
Current Yield:7.48%
Original Coupon:7.60%
Pay Period:Quarterly
Pay Dates:15-Feb, 15-May, 15-Aug, 15-Nov
CDx3 Compliance Rating: Learn ET.PRE's Rating
Energy Transfer is a holding company. Through its subsidiaries, Co. is engaged in natural gas operations, including natural gas midstream and intrastate transportation and storage; interstate natural gas transportation and storage; and crude oil, natural gas liquid (NGL) and refined products transportation, terminalling services and acquisition and marketing activities. Co.'s reportable segments include: intrastate transportation and storage; interstate transportation and storage; midstream; NGL and refined products transportation and services; crude oil transportation and services; investment in Sunoco LP; investment in USA Compression Partners, LP; and all other.

Preferreds: ET.PRC, ET.PRD, ET.PRE


Open the ET Information Page »
Name: 
Energy Transfer LP
Website: 
www.energytransfer.com
Sector: 
Oil & Gas Equipment & Services
Number of ETFs Holding ET: 
8 (see which ones)
Total Market Value Held by ETFs: 
$214,771,814
Total Market Capitalization: 
$49,022,000,000
% of Market Cap. Held by ETFs: 
0.44%

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