Energy Transfer Operating LP 7.60% Series E Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units

By: ,

Date Issued  4/17/2019

Shares Issued   28,000,000  Overallotment  4,200,000

S&P Rating   BB   Moodys Rating  Ba2


Security Ticker Symbol   ETP-E   OTC Grey Market   ETPEP

Market Traded ON   NYSE

Dividend Payment Paid on the 15th of February, May, August and November beginning on 8/15/2019

Quarterly Dividend   .475   Annual Dividend   1.90

Securities may be redeemed, at the issuers option, as early as 05/15/2024 for a redemption price of $25/share plus accrued dividends


On 5/15/2024 the coupon will begin to float at a rate of 3 month Libor and a spread of 5.161%.

Dividend Payment will be a Non Qualified Distribution

Maturity Date   None

Click Here to find the offering Prospectus and Final Pricing Document

Tim McPartland

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Tim McPartland
Tim McPartland is a private investor with over 45 years of investing experience. His analysis, research and writing is devoted to the hunt for income producing securities of all types, but in particular specializing in preferred stocks, exchange traded debt and Master Limited Partnerships.
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