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Energy Transfer LP 8-K Report, Regulation FD Disclosure (Oct 28, 2024)

Reports
Regulation FD·Other Events·Exhibits & Filings
Filing Date
Filed October 28, 2024
Period End
October 28, 2024
Securities
ETET-PI
In the record · 2016–202610-K1210-Q328-K198

ET filed 12 annual reports (10-K), 32 quarterly reports (10-Q) and 198 current reports (8-K) between 2016 and 2026.

  1. Deal closed8-K · Apr ’18Apr ’18
  2. Leadership change8-K · Jan ’20Jan ’20
  3. Material agreement8-K · Apr ’22Apr ’22
  4. Material agreement8-K · Jul ’26Jul ’26

01—Abstract

Summary

Summary of the 8-K filed October 28, 2024. Cited figures are marked; the original filing is the authoritative source.

Energy Transfer LP (NYSE: ET) announced on October 28, 2024 an increase in its quarterly cash distribution to $0.3225a per common unit ($1.29 annualized) for the quarter ended September 30, 2024.

The distribution is payable November 19, 2024 to unitholders of record as of the close of business on November 8, 2024. The increase represents a 3.2%b rise compared with the third quarter of 2023, signaling management's continued confidence in the partnership's cash generation and its commitment to growing returns to unitholders. The filing is primarily a routine disclosure under Regulation FD (Item 7.01) and Other Events (Item 8.01), with the press release furnished as Exhibit 99.1 rather than filed.

The release also confirms that Energy Transfer will report third quarter 2024 earnings after market close on Wednesday, November 6, 2024, followed by a conference call at 3:30 p.m. Central Time / 4:30 p.m. Eastern Time.

Investors should view the earnings call as the key near-term catalyst for updated guidance and fuller context on the distribution's sustainability. The release includes tax-related notices for nominees and foreign investors. It states that 100%c of distributions to foreign investors are effectively connected with a U.S. trade or business and are subject to federal withholding at the highest applicable rate, with nominees acting as withholding agents.

Unitholders, particularly non-U.S. investors, should review these tax implications with their advisors. The release also describes the partnership's scale, with more than 130,000 miles of pipeline across 44 states and interests in Sunoco LP and USA Compression Partners.

02—Key points

Key Highlights

  1. Quarterly cash distribution increased to $0.3225 per common unit, or $1.29 annualized, for the quarter ended September 30, 2024.
  2. Distribution represents a 3.2% year-over-year increase compared with the third quarter of 2023.
  3. Distribution payable November 19, 2024 to unitholders of record as of November 8, 2024.
  4. Third quarter 2024 earnings release scheduled for November 6, 2024, after market close, with a conference call the same day at 3:30 p.m. CT / 4:30 p.m. ET.
  5. Partnership operates more than 130,000 miles of pipeline and energy infrastructure across 44 states, with assets in all major U.S. production basins.
  6. Energy Transfer owns Lake Charles LNG Company and holds general partner interests, incentive distribution rights, and approximately 21% of Sunoco LP common units, plus general partner interests and about 39% of USA Compression Partners common units.
  7. Foreign investors face federal withholding on 100% of distributions, which are treated as effectively connected income; nominees act as withholding agents.

03—Questions

Frequently Asked Questions

  1. How much is the latest distribution and what is its annualized value?

    The quarterly cash distribution is $0.3225 per common unit, which equals $1.29 on an annualized basis, for the quarter ended September 30, 2024.

  2. When will the distribution be paid and who is eligible to receive it?

    The distribution will be paid on November 19, 2024 to unitholders of record as of the close of business on November 8, 2024.

  3. How much did the distribution increase compared with last year?

    The distribution increased 3.2% compared with the third quarter of 2023, according to the press release.

  4. When will Energy Transfer report its third quarter 2024 results?

    Energy Transfer plans to release third quarter 2024 earnings on Wednesday, November 6, 2024, after the market closes, with a conference call at 3:30 p.m. Central Time / 4:30 p.m. Eastern Time that day.

  5. What tax withholding applies to non-U.S. investors?

    The partnership states that 100% of distributions to foreign investors are effectively connected with a U.S. trade or business and are subject to federal withholding at the highest applicable effective tax rate. Nominees, not Energy Transfer, serve as the withholding agents, so investors should consult their tax advisors.

04—Continue

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