ENERGY TRANSFER L P ET
COM UT LTD PTN · MLP · CUSIP 29273V100 · ISIN US29273V1008
- SectorUtilities
- IndustryNatural Gas Transmission
- HeadquartersDallas, TX
- Websiteenergytransfer.com
- FilingsSEC EDGAR
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($19.8m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $18.54. Options: 34 managers hold calls ($786.1m notional), 30 hold puts ($529.6m).
Trends to Q1 2025
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 853 |
| Q4 2022 | 914 |
| Q1 2023 | 932 |
| Q2 2023 | 955 |
| Q3 2023 | 965 |
| Q4 2023 | 1,056 |
| Q1 2024 | 1,059 |
| Q2 2024 | 1,081 |
| Q3 2024 | 1,101 |
| Q4 2024 | 1,207 |
| Q1 2025 | 1,217 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q2 2023 | 448 | 297 |
| Q3 2023 | 483 | 283 |
| Q4 2023 | 574 | 251 |
| Q1 2024 | 521 | 327 |
| Q2 2024 | 525 | 311 |
| Q3 2024 | 569 | 311 |
| Q4 2024 | 574 | 338 |
| Q1 2025 | 590 | 402 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q2 2024 | $672.8m | $392.6m | 0.58 |
| Q3 2024 | $668.5m | $438.8m | 0.66 |
| Q4 2024 | $743.8m | $480.9m | 0.65 |
| Q1 2025 | $786.1m | $529.6m | 0.67 |
Biggest buyers
| Brookfield Corp /ON/ | Added | +16.4m |
| ALPS ADVISORS INC | Added | +8.6m |
| FMR LLC | Added | +5.5m |
| COMMERCE BANK | New | +5.0m |
| NATIXIS | Added | +3.6m |
| Energy Income Partners, LLC | Added | +2.5m |
| Employees Retirement System of Texas | New | +2.4m |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | +2.3m |
| CITADEL ADVISORS LLC | Added | +1.5m |
| Newbrook Capital Advisors LP | New | +1.5m |
Biggest sellers
| MORGAN STANLEY | Reduced | -24.0m |
| GOLDMAN SACHS GROUP INC | Reduced | -14.7m |
| ABRAMS CAPITAL MANAGEMENT, L.P. | Reduced | -11.6m |
| BANK OF MONTREAL /CAN/ | Reduced | -9.7m |
| JPMORGAN CHASE & CO | Reduced | -5.7m |
| UBS Group AG | Reduced | -5.5m |
| NOMURA HOLDINGS INC | Sold out | -2.6m |
| CITIGROUP INC | Reduced | -1.9m |
| Blackstone Inc. | Reduced | -1.7m |
| Corient Private Wealth LP | Reduced | -1.2m |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $191.4m10.3m shares |
| Caption Management, LLC | Added | $102.2m5.5m shares |
| CITADEL ADVISORS LLC | Added | $99.3m5.3m shares |
| GROUP ONE TRADING LLC | Reduced | $86.2m4.6m shares |
| SIMPLEX TRADING, LLC | Added | $70.7m3.8m shares |
| JANE STREET GROUP, LLC | Reduced | $46.0m2.5m shares |
| Nishkama Capital, LLC | Reduced | $31.2m1.7m shares |
| PEAK6 LLC | Reduced | $28.9m1.6m shares |
| OnyxPoint Global Management LP | Added | $21.4m1.2m shares |
| IMC-Chicago, LLC | Reduced | $19.4m1.0m shares |
Biggest puts
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $142.8m7.7m shares |
| CITADEL ADVISORS LLC | Added | $89.0m4.8m shares |
| JPMORGAN CHASE & CO | Reduced | $86.0m4.6m shares |
| Caption Management, LLC | New | $31.6m1.7m shares |
| SIMPLEX TRADING, LLC | Added | $24.5m1.3m shares |
| GROUP ONE TRADING LLC | Added | $24.0m1.3m shares |
| JANE STREET GROUP, LLC | Reduced | $23.7m1.3m shares |
| Annandale Capital, LLC | Added | $18.2m1.1m shares |
| WOLVERINE TRADING, LLC | Added | $17.9m957.3k shares |
| Ripple Effect Asset Management LP | Added | $16.3m875.0k shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Insider purchases and sales in Q1 2025
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q2 2023 | 2 | $37.9m | 0 | — | — |
| Q3 2023 | 3 | $40.4m | 0 | — | — |
| Q4 2023 | 5 | $28.2m | 0 | — | — |
| Q1 2024 | 0 | — | 0 | — | — |
| Q2 2024 | 0 | — | 0 | — | — |
| Q3 2024 | 3 | $47.7m | 0 | — | — |
| Q4 2024 | 0 | — | 0 | — | — |
| Q1 2025 | 0 | — | 0 | — | — |
None reported in Q1 2025.
Holders, Q1 2025
| Manager | Shares | Change |
|---|---|---|
| GOLDMAN SACHS GROUP INC 0.27% of their portfolio | 77.0m $1.4bn | Reduced -14.7m |
| ALPS ADVISORS INC 8.12% of their portfolio | 75.4m $1.4bn | Added +8.6m |
| MORGAN STANLEY 0.09% of their portfolio | 68.6m $1.3bn | Reduced -24.0m |
| Invesco Ltd. 0.20% of their portfolio | 56.1m $1.0bn | Added +5.0k |
| Blackstone Inc. 4.24% of their portfolio | 52.0m $967.3m | Reduced -1.7m |
| FMR LLC 0.05% of their portfolio | 44.1m $820.4m | Added +5.5m |
| Brookfield Corp /ON/ 0.74% of their portfolio | 43.9m $815.7m | Added +16.4m |
| JPMORGAN CHASE & CO 0.06% of their portfolio | 43.4m $806.0m | Reduced -5.7m |
| TORTOISE CAPITAL ADVISORS, L.L.C. 8.59% of their portfolio | 38.2m $710.2m | Added +951.7k |
| BANK OF AMERICA CORP /DE/ 0.06% of their portfolio | 37.4m $695.4m | Reduced -531.0k |
| UBS Group AG 0.14% of their portfolio | 33.1m $614.4m | Reduced -5.5m |
| KAYNE ANDERSON CAPITAL ADVISORS LP 9.92% of their portfolio | 24.2m $449.3m | Added +182.7k |
| First Reserve GP XIII Ltd 85.84% of their portfolio | 23.3m $433.9m | Unchanged |
| Energy Income Partners, LLC 8.23% of their portfolio | 23.1m $429.8m | Added +2.5m |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.77% of their portfolio | 19.5m $363.0m | Reduced -248.1k |
| NATIXIS 1.98% of their portfolio | 18.2m $336.1m | Added +3.6m |
| WESTWOOD HOLDINGS GROUP INC 2.36% of their portfolio | 16.8m $312.1m | Added +455.9k |
| BNP PARIBAS FINANCIAL MARKETS 0.24% of their portfolio | 16.8m $311.7m | First filing |
| Clearbridge Investments, LLC 0.27% of their portfolio | 16.8m $311.5m | Added +591.2k |
| NEUBERGER BERMAN GROUP LLC 0.25% of their portfolio | 16.1m $298.6m | Added +72.0k |
| CHICKASAW CAPITAL MANAGEMENT LLC 11.22% of their portfolio | 15.7m $291.1m | Reduced -82.1k |
| CIBC Private Wealth Group LLC 0.50% of their portfolio | 15.0m $234.5m | Added +1.5m |
| COOPERMAN LEON G 9.59% of their portfolio | 13.0m $241.7m | Added +340.0k |
| WELLS FARGO & COMPANY/MN 0.05% of their portfolio | 11.3m $209.4m | Reduced -400.1k |
| CITIGROUP INC 0.12% of their portfolio | 8.3m $153.5m | Reduced -1.9m |
| CUSHING ASSET MANAGEMENT, LP dba NXG INVESTMENT MANAGEMENT 8.51% of their portfolio | 7.4m $137.9m | Reduced -169.7k |
| RAYMOND JAMES FINANCIAL INC 0.05% of their portfolio | 6.5m $121.7m | Added +459.5k |
| BERKLEY W R CORP 8.60% of their portfolio | 6.3m $117.8m | Unchanged |
| EAGLE GLOBAL ADVISORS LLC 4.76% of their portfolio | 6.2m $115.7m | Added +431.7k |
| ABRAMS CAPITAL MANAGEMENT, L.P. 2.05% of their portfolio | 6.2m $115.4m | Reduced -11.6m |
| LPL Financial LLC 0.04% of their portfolio | 6.0m $110.8m | Added +839.5k |
| STIFEL FINANCIAL CORP 0.11% of their portfolio | 5.8m $107.1m | Added +146.6k |
| Stephens Group, LLC 53.40% of their portfolio | 5.6m $103.6m | Unchanged |
| Garrett Wealth Advisory Group, LLC 22.78% of their portfolio | 5.5m $101.9m | Added +14 |
| MILLER HOWARD INVESTMENTS INC /NY 2.98% of their portfolio | 5.0m $93.6m | Reduced -550.3k |
| Fractal Investments LLC 12.94% of their portfolio | 5.0m $93.1m | Unchanged |
| DUFF & PHELPS INVESTMENT MANAGEMENT CO 1.09% of their portfolio | 5.0m $92.9m | Added +4.3k |
| COMMERCE BANK 0.59% of their portfolio | 5.0m $92.6m | New |
| APPALOOSA LP 1.66% of their portfolio | 5.0m $92.2m | Added +42.5k |
| Patient Capital Management, LLC 4.67% of their portfolio | 4.9m $90.8m | Reduced -208.1k |
| Recurrent Investment Advisors LLC 7.44% of their portfolio | 4.7m $87.8m | Added +4.4k |
| ROYAL BANK OF CANADA 0.02% of their portfolio | 4.6m $85.3m | Reduced -408.6k |
| Allianz Asset Management GmbH 0.12% of their portfolio | 4.2m $79.0m | Reduced -634.4k |
| BARCLAYS PLC 0.04% of their portfolio | 4.2m $78.5m | Added +811.5k |
| Amundi 0.02% of their portfolio | 3.9m $68.4m | Unchanged |
| Zurich Insurance Group Ltd/FI 0.56% of their portfolio | 3.7m $68.9m | Reduced -334.6k |
| Pinnacle Wealth Planning Services, Inc. 10.21% of their portfolio | 3.7m $67.9m | Reduced -177.6k |
| INFRASTRUCTURE CAPITAL ADVISORS, LLC 8.18% of their portfolio | 3.5m $65.0m | Added +260.0k |
| Rockefeller Capital Management L.P. 0.16% of their portfolio | 3.4m $64.1m | Reduced -253.2k |
| Long Focus Capital Management, LLC 4.22% of their portfolio | 3.3m $62.1m | Unchanged |
| Chicago Partners Investment Group LLC 1.84% of their portfolio | 3.3m $55.4m | Reduced -7.2k |
| HighTower Advisors, LLC 0.08% of their portfolio | 3.0m $56.7m | Reduced -617.5k |
| COHEN & STEERS, INC. 0.10% of their portfolio | 3.0m $56.2m | Reduced -37.8k |
| OSAIC HOLDINGS, INC. 0.12% of their portfolio | 2.9m $54.5m | Reduced -114.4k |
| RR Advisors, LLC 12.45% of their portfolio | 2.8m $52.1m | Reduced -107.0k |
| BANK OF MONTREAL /CAN/ 0.03% of their portfolio | 2.7m $50.8m | Reduced -9.7m |
| BEACH INVESTMENT COUNSEL INC/PA 7.30% of their portfolio | 2.7m $49.6m | Reduced -84.7k |
| Maryland State Retirement & Pension System 1.16% of their portfolio | 2.6m $48.7m | Added +77.0k |
| Philosophy Capital Management LLC 6.36% of their portfolio | 2.6m $47.7m | Added +48.6k |
| HSBC HOLDINGS PLC 0.03% of their portfolio | 2.6m $47.4m | Added +6 |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.08% of their portfolio | 2.5m $45.9m | Added +2.3m |
| Merewether Investment Management, LP 1.64% of their portfolio | 2.4m $45.1m | Reduced -192.0k |
| Nuveen, LLC 0.01% of their portfolio | 2.4m $44.9m | First filing |
| Employees Retirement System of Texas 0.40% of their portfolio | 2.4m $44.3m | New |
| Progeny 3, Inc. 3.00% of their portfolio | 2.3m $43.6m | Added +36.7k |
| TORONTO DOMINION BANK 0.11% of their portfolio | 2.3m $42.5m | Reduced -187.0k |
| Americana Partners, LLC 1.64% of their portfolio | 2.3m $42.2m | Added +455.2k |
| JENNISON ASSOCIATES LLC 0.03% of their portfolio | 2.2m $40.2m | Reduced -262.9k |
| Catalyst Capital Advisors LLC 0.79% of their portfolio | 2.1m $38.5m | Added +118.7k |
| WALNUT PRIVATE EQUITY PARTNERS, LLC 20.48% of their portfolio | 2.0m $37.4m | Added +26.0k |
| LONGFELLOW INVESTMENT MANAGEMENT CO LLC 8.79% of their portfolio | 1.9m $36.0m | Reduced -914.0k |
| Cambridge Investment Research Advisors, Inc. 0.12% of their portfolio | 1.9m $35.5m | Added +131.7k |
| Beacon Pointe Advisors, LLC 0.38% of their portfolio | 1.8m $33.7m | Added +503.9k |
| COMMONWEALTH EQUITY SERVICES, LLC 0.04% of their portfolio | 1.7m $31.4m | Added +57.4k |
| Mariner, LLC 0.05% of their portfolio | 1.7m $31.3m | Added +74.5k |
| Kamunting Street Capital Management, L.P. 20.92% of their portfolio | 1.7m $31.2m | Added +446.4k |
| DEUTSCHE BANK AG\ 0.01% of their portfolio | 1.7m $30.8m | Unchanged |
| Cetera Investment Advisers 0.06% of their portfolio | 1.6m $29.9m | Added +212.6k |
| EXCHANGE TRADED CONCEPTS, LLC 0.52% of their portfolio | 1.6m $28.8m | Added +162.9k |
| CITADEL ADVISORS LLC 0.03% of their portfolio | 1.5m $28.0m | Added +1.5m |
| FFG Partners, LLC 11.40% of their portfolio | 1.5m $27.7m | Reduced -160.5k |
| STEPHENS INC /AR/ 0.40% of their portfolio | 1.5m $27.4m | Added +274.8k |
| Newbrook Capital Advisors LP 4.31% of their portfolio | 1.5m $27.3m | New |
| Delphi Financial Group, Inc. 15.94% of their portfolio | 1.4m $26.4m | Unchanged |
| Adams Asset Advisors, LLC 3.61% of their portfolio | 1.4m $26.3m | Reduced -4.9k |
| PAYDEN & RYGEL 2.13% of their portfolio | 1.3m $24.8m | Unchanged |
| Waverly Advisors, LLC 0.30% of their portfolio | 1.3m $24.2m | Added +920.5k |
| Texas Yale Capital Corp. 0.99% of their portfolio | 1.3m $24.1m | Added +103.9k |
| MONETA GROUP INVESTMENT ADVISORS LLC 0.33% of their portfolio | 1.3m $24.0m | Reduced -17.5k |
| GABELLI FUNDS LLC 0.18% of their portfolio | 1.3m $23.8m | Added +29.0k |
| Sanctuary Advisors, LLC 0.16% of their portfolio | 1.2m $22.4m | Added +139.6k |
| LONESTAR CAPITAL MANAGEMENT LLC 27.72% of their portfolio | 1.2m $22.3m | Reduced -100.0k |
| NEXPOINT ASSET MANAGEMENT, L.P. 2.11% of their portfolio | 1.2m $22.3m | Unchanged |
| Aptus Capital Advisors, LLC 0.24% of their portfolio | 1.2m $21.6m | Reduced -115.9k |
| U.S. Capital Wealth Advisors, LLC 0.66% of their portfolio | 1.2m $21.5m | Added +151.2k |
| HRT FINANCIAL LP 0.15% of their portfolio | 1.1m $21.2m | Added +376.6k |
| Kestra Advisory Services, LLC 0.10% of their portfolio | 1.1m $20.6m | Added +75.4k |
| NORTHERN TRUST CORP 0.00% of their portfolio | 1.1m $19.9m | Added +738.9k |
| SIMPLEX TRADING, LLC 0.70% of their portfolio | 1.1m $19.6m | Reduced -122.9k |
| Creative Planning 0.02% of their portfolio | 1.0m $19.2m | Added +62.7k |