Energy Transfer LP Increases Quarterly Cash Distribution by 3.3%

Energy Transfer LP (NYSE: ET) has announced an increase in its quarterly cash distribution to $0.3175 per Energy Transfer common unit ($1.27 on an annualized basis) for the first quarter ended March 31, 2024. This marks a 3.3% increase compared to the first quarter of 2023.

The company plans to release earnings for the first quarter of 2024 on Wednesday, May 8, 2024, after the market closes. Additionally, Energy Transfer will conduct a conference call on the same day at 3:30 p.m. Central Time/4:30 p.m. Eastern Time to discuss quarterly results and provide a company update.

As of now, Energy Transfer owns and operates an extensive network of energy assets in the United States, with more than 125,000 miles of pipeline and associated energy infrastructure. Its strategic network covers 44 states and includes assets in all major U.S. production basins. Energy Transfer's core operations include natural gas midstream, intrastate and interstate transportation and storage assets, crude oil, natural gas liquids (NGL), and refined product transportation and terminalling assets, as well as NGL fractionation.

Furthermore, the company also holds ownership in Lake Charles LNG Company, 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 39% of the outstanding common units of USA Compression Partners, LP (NYSE: USAC). Following these announcements, the company's shares moved -0.3%, and are now trading at a price of $15.85. If you want to know more, read the company's complete 8-K report here.

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