◆ Preferred Stock Research

ⓘ Guide

ET-P-I

Energy Transfer LP · Series I · Natural Gas Transmission
Also quoted as: ET-I, ETprI, ET.PRI, ET-PI, ETpI
$11.41
last price

About this security

ET-P-I is a 3.378% convertible perpetual preferred stock issued by Energy Transfer LP, a Natural Gas Transmission issuer. $25 liquidation preference, current yield 7.40%.

Energy Transfer LP: Energy Transfer LP is a Delaware-based master limited partnership (MLP) that operates one of the largest midstream energy networks in the United States. Its core business spans natural gas midstream gathering, intrastate and interstate transportation and storage, as well as crude oil, NGL, and refined products transportation, terminalling, storage, and fractionation. The partnership also holds controlling or ownership interests in Sunoco LP, a fuel distribution and retail MLP; USA Compression Partners (USAC), a natural gas compression MLP; and SunocoCorp, a publicly traded LLC. Energy Transfer's cash flows are primarily derived from distributions from these subsidiaries, whose earnings stem from their respective midstream, logistics, and energy infrastructure operations across the U.S.

Issuer page — all Energy Transfer LP securities & profile →

Key Stats ✓ terms from SEC 424B5 — verify via link below consistency checks passed — not source-verified

Current Yield
7.40%
Annual Dividend
$0.8444
Recent Market Price
$11.41
as of 2026-06-15
Disc/Prem to Par (→ screen)
Recent Ex-Date
2026-05-04
Pay Frequency
quarterly
Cumulative
Original Coupon (est.)
3.378%
Call Date
Yield to Call
n/a — not callable
Yield to Worst
7.40%
Liq. Preference
$25.00
Maturity
Perpetual
Redeemable
No
Convertible
Yes
Conversion Price
$13.69
Conversion Ratio
2.0700
Issued
2024-06-21
Series
I
Alt. Symbology
ET-I, ETprI, ET.PRI, ET-PI, ETpI

vs. Natural Gas Transmission category (3 issues): yield 7.40% vs avg 10.01% · discount -54.4% vs avg -25.4%

Quote

 ET-P-I (preferred)ET (common)
Last $11.41 $19.07
Change
Open$11.50$18.77
High / Low $11.50 / $11.38 $19.22 / $18.68
Prev Close
Volume121,3488,281,246
52-Week High / Low $12.28 / $10.65 $20.70 / $16.18

52-week range based on available history. Shares outstanding / market cap require a fundamentals feed (not in current data plan).

Price

ET-P-I ET (common)

Dividend History

Ex-DateAmount / Share
2026-05-04$0.211100
2026-02-04$0.211100
2025-11-04$0.211100
2025-08-04$0.211100
2025-05-02$0.211100
2025-02-04$0.211100
2024-11-04$0.211100
2024-08-02$0.211100
2024-04-30$0.211100
2024-01-31$0.211100

Performance — $10K Calculator

See what an investment in ET-P-I would be worth today, dividends reinvested.

Dividends reinvested (DRIP) at the close on each ex-date. Full performance page →

🔔 Get dividend & filing alerts for ET-P-I →

Prospectus (SEC 424B5)

Full Prospectus (SEC filing) →

News — Energy Transfer LP

Issuer news via Tiingo, tagged to ET.

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This site tracks preferred stocks and baby bonds — investments that pay regular, scheduled dividends. Every figure shown is drawn from companies' SEC filings and live market quotes.

What you're looking at
A preferred stock sits between a common stock and a bond. It usually trades near a $25 face value and pays a fixed dividend on a set schedule. Baby bonds are similar, but they are debt that matures on a stated date.
Key terms
YieldAnnual income as a % of the price. Higher means more income — but check why a yield is unusually high.
ParThe face value, almost always $25 — the price the company can redeem the share at.
Discount / PremiumWhether the share trades below par (a discount) or above it (a premium).
Call dateThe first date the company is allowed to buy the share back from you at par.
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