Energy Transfer Equity LP (NYSE: ETE) has completed its two-for-one split of the Partnership’s outstanding common units.
The unit split was effected by a distribution of one ETE common unit for each ETE common unit outstanding and held by unitholders of record at the close of business on July 15. The Partnership's quarterly distribution amount going forward will reflect the unit split.
ETE common units will begin trading on a post-split basis today on the New York Stock Exchange.
ETE is a master limited partnership which owns the general partner and 100% of the incentive distribution rights (IDRs) of Energy Transfer Partners LP (NYSE: ETP), approximately 23.6 million ETP common units, approximately 81.0 million ETP Class H units, which track 90% of the underlying economics of the general partner interest and IDRs of Sunoco Logistics Partners LP (NYSE: SXL), and 100 ETP Class I units. On a consolidated basis, ETE’s family of companies owns and operates approximately 71,000 miles of natural gas, natural gas liquids, refined products, and crude oil pipelines.