Energy Transfer Management

Management criteria checks 2/4

Energy Transfer's CEO is Mackie McCrea, appointed in Jan 2021, has a tenure of 2.08 years. total yearly compensation is $19.97M, comprised of 6.9% salary and 93.1% bonuses, including company stock and options. directly owns 0.1% of the company’s shares, worth MX$730.53M. The average tenure of the management team and the board of directors is 0.8 years and 6.9 years respectively.

Key information

Mackie McCrea

Chief executive officer

US$20.0m

Total compensation

CEO salary percentage	6.9%
CEO tenure	2.1yrs
CEO ownership	0.1%
Management average tenure	less than a year
Board average tenure	6.9yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Mackie McCrea's remuneration changed compared to Energy Transfer's earnings?
Date	Total Compensation	Salary	Company Earnings
Dec 31 2022	US$20m	US$1m	US$4b
Sep 30 2022	n/a	n/a	US$4b
Jun 30 2022	n/a	n/a	US$4b
Mar 31 2022	n/a	n/a	US$3b
Dec 31 2021	US$21m	US$1m	US$5b
Sep 30 2021	n/a	n/a	US$5b
Jun 30 2021	n/a	n/a	US$4b
Mar 31 2021	n/a	n/a	US$3b
Dec 31 2020	US$8m	US$1m	-US$647m
Sep 30 2020	n/a	n/a	-US$184m
Jun 30 2020	n/a	n/a	US$1b
Mar 31 2020	n/a	n/a	US$2b
Dec 31 2019	US$12m	US$1m	US$4b
Sep 30 2019	n/a	n/a	US$3b
Jun 30 2019	n/a	n/a	US$3b
Mar 31 2019	n/a	n/a	US$2b
Dec 31 2018	US$11m	US$1m	US$2b
Sep 30 2018	n/a	n/a	US$2b
Jun 30 2018	n/a	n/a	US$1b
Mar 31 2018	n/a	n/a	US$1b
Dec 31 2017	US$12m	US$1m	US$1b
Sep 30 2017	n/a	n/a	US$2b
Jun 30 2017	n/a	n/a	US$2b
Mar 31 2017	n/a	n/a	US$1b
Dec 31 2016	US$11m	US$1m	US$1b

Compensation vs Market: Mackie's total compensation ($USD19.97M) is above average for companies of similar size in the MX market ($USD5.70M).

Compensation vs Earnings: Mackie's compensation has been consistent with company performance over the past year.

CEO

Mackie McCrea (63 yo)

2.1yrs

Tenure

US$19,974,392

Compensation

Mr. Marshall S. McCrea, III, also known as Mackie, has been Co-Chief Executive Officer of LE GP, LLC at Energy Transfer LP since January 01, 2021. He serves as Co-Chief Executive Officer of Panhandle Easte...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Marshall McCrea	Co-CEO & Director of LE GP	2.1yrs	US$19.97m	0.10% $ 730.5m
Thomas Long	Co-CEO & Director of LE GP	7yrs	US$18.38m	0.025% $ 183.2m
Dylan Bramhall	Group Chief Financial Officer of LE GP	less than a year	US$4.39m	0.0036% $ 26.0m
James Wright	Executive VP	less than a year	US$3.25m	0.0072% $ 52.4m
Thomas Mason	Executive VP of Alternative Energy & President – LNG of LE GP	no data	US$5.60m	0.024% $ 176.1m
Bradford Whitehurst	Executive Vice President of Tax & Corporate Initiatives of LE	less than a year	US$5.24m	0.017% $ 127.6m
Kelcy Warren	Executive Chairman of LE GP	17yrs	US$6.39k	9.27% $ 67.9b
Greg Mcilwain	Executive Vice President of Operations of LE GP LLC	less than a year	no data	no data
A. Sturrock	Senior VP	4.3yrs	US$1.34m	0.010% $ 74.4m
Steve Hotte	Group Senior VP & Chief Information Officer	less than a year	no data	no data
Brent Ratliff	VP, Investor Relations	no data	no data	no data
Christopher Curia	Executive VP & Chief Human Resource Officer of LE GP	no data	no data	no data

0.8yrs

Average Tenure

63yo

Average Age

Experienced Management: ET *'s management team is not considered experienced ( 0.8 years average tenure), which suggests a new team.

Board Members

Name	Position	Tenure	Compensation	Ownership
Marshall McCrea	Co-CEO & Director of LE GP	13.2yrs	US$19.97m	0.10% $ 730.5m
Thomas Long	Co-CEO & Director of LE GP	3.8yrs	US$18.38m	0.025% $ 183.2m
Kelcy Warren	Executive Chairman of LE GP	17yrs	US$6.39k	9.27% $ 67.9b
Richard Brannon	Independent Director of LE GP LLC	6.9yrs	US$225.00k	0.022% $ 164.8m
John McReynolds	Director of LE GP	17.5yrs	US$1.42m	0.98% $ 7.2b
Michael Grimm	Independent Director of LE GP	4.3yrs	US$230.00k	0.022% $ 163.1m
Matthew Ramsey	Director of LE GP	10.6yrs	US$2.10m	0.036% $ 265.6m
Steven Anderson	Independent Director of LE GP	4.7yrs	US$222.50k	0.050% $ 368.2m
James Perry	Independent Director of LE GP	3.1yrs	US$200.00k	0.0041% $ 29.8m

6.9yrs

Average Tenure

67yo

Average Age

Experienced Board: ET *'s board of directors are considered experienced (6.9 years average tenure).

Energy Transfer Management

Management criteria checks 2/4

Key information

Recent management updates

Energy Transfer LP Appoints Clifford A. Harris as Director

Insider recently bought Mex$1.2m worth of stock

Executive Chairman of LE GP recently bought Mex$120m worth of stock

Executive Chairman of LE GP recently bought Mex$289m worth of stock

Insufficient new directors

Energy Transfer Lp Announces CFO Changes

Recent updates

Energy Transfer LP to Report Q1, 2024 Results on May 08, 2024

Energy Transfer LP Appoints Clifford A. Harris as Director

Energy Transfer LP to Report Q4, 2023 Results on Feb 14, 2024

Energy Transfer LP (NYSE:ET) acquired Crestwood Equity Partners LP (NYSE:CEQP) from ALPS Advisors, Inc., FR XIII Crestwood Permian Basin Holdings LLC and others.

Energy Transfer LP to Report Q3, 2023 Results on Nov 01, 2023

Energy Transfer LP (NYSE:ET) entered into a definitive merger agreement to acquire Crestwood Equity Partners LP (NYSE:CEQP) for approximately $4.5 billion.

Energy Transfer LP (NYSE:ET) entered into a definitive merger agreement to acquire Crestwood Equity Partners LP (NYSE:CEQP) for approximately $4.5 billion.

Energy Transfer LP to Report Q2, 2023 Results on Aug 02, 2023

Energy Transfer LP (NYSE:ET) completed the acquisition of Centurion Pipeline Company LLC from Lotus Midstream, LLC.

Energy Transfer LP Announces Increase in Cash Distribution for the Fourth Quarter Ended December 31, 2022, Payable on February 21, 2023

Energy Transfer LP to Report Q4, 2022 Results on Feb 15, 2023

Insider recently bought Mex$1.2m worth of stock

Executive Chairman of LE GP recently bought Mex$120m worth of stock

Executive Chairman of LE GP recently bought Mex$289m worth of stock

Insufficient new directors

Energy Transfer Lp Announces CFO Changes

Executive Chairman of LE GP recently bought Mex$289m worth of stock

Now 23% undervalued

Third quarter 2022 earnings released: EPS: US$0.29 (vs US$0.20 in 3Q 2021)

Energy Transfer LP Announces Cash Distribution for the Third Quarter Ended September 30, 2022, Payable on November 21, 2022

Energy Transfer LP to Report Q3, 2022 Results on Nov 01, 2022

Executive Chairman of LE GP recently bought Mex$579m worth of stock

Pembina Pipeline Corporation (TSX:PPL) and KKR & Co. Inc. (NYSE:KKR) completed the acquisition of 51% stake in Energy Transfer Canada ULC from Energy Transfer LP (NYSE:ET).

Executive Chairman of LE GP recently bought Mex$257m worth of stock

Second quarter 2022 earnings released: EPS: US$0.40 (vs US$0.20 in 2Q 2021)

Energy Transfer LP (NYSE:ET) entered into an agreement to acquire Woodford Express, LLC for approximately $490 million.

Energy Transfer LP Announces Increase in Quarterly Cash Distribution, Payable on August 19, 2022

Independent Director of LE GP LLC recently bought Mex$27m worth of stock

Energy Transfer LP to Report Q2, 2022 Results on Aug 03, 2022

Levi & Korsinsky Notifies Energy Transfer LP Investors of A Class Action Lawsuit

Robbins Geller Rudman & Dowd LLP Announces Energy Transfer LP Investors with Substantial Losses Have Opportunity to Lead Class Action Lawsuit

Now 22% undervalued

Now 23% undervalued

First quarter 2022 earnings released: EPS: US$0.41 (vs US$1.22 in 1Q 2021)

Energy Transfer LP Announces Impairment Charges for the First Quarter Ended March 31, 2022

Upcoming dividend of US$0.20 per share

Less than half of directors are independent

Energy Transfer Announces Quarterly Cash Distribution for the First Quarter Ended March 31, 2022, Payable on May 19, 2022

Energy Transfer LP to Report Q1, 2022 Results on May 04, 2022

Independent Director of LE GP recently bought Mex$112m worth of stock

Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat

Upcoming dividend of US$0.17 per share

Energy Transfer LP (NYSE:ET) completed the acquisition of Enable Midstream Partners, LP (NYSE:ENBL) from OGE Energy Corp. (NYSE:OGE), CenterPoint Energy, Inc. (NYSE:CNP) and others.

Third quarter 2021 earnings released: EPS US$0.23 (vs US$0.29 loss in 3Q 2020)

Independent Director of LE GP LLC recently bought Mex$4.5m worth of stock

Chief Financial Officer of LE GP recently bought Mex$1.1m worth of stock

Executive Chairman of LE GP recently bought Mex$178m worth of stock

Chief Financial Officer of LE GP recently bought Mex$925k worth of stock

Second quarter 2021 earnings released: EPS US$0.23 (vs US$0.13 in 2Q 2020)

Upcoming dividend of US$0.15 per share

Chief Financial Officer of LE GP recently bought Mex$1.0m worth of stock

Insider recently bought Mex$19m worth of stock

First quarter 2021 earnings released: EPS US$1.22 (vs US$0.32 loss in 1Q 2020)

Energy Transfer LP Appoints Tom Mason to Led the Alternative Energy Group

Energy Transfer Lp Creates A New Group Within the Partnership Tasked with Increasing the Partnership Efforts to Develop Alternative Energy Projects

Energy Transfer LP to Report Q4, 2020 Results on Feb 17, 2021

New 90-day high: Mex$142

Energy Transfer Appoints Bradford D. Whitehurst as Chief Financial Officer

New 90-day high: Mex$138

Revenue misses expectations

Third quarter 2020 earnings released: US$0.29 loss per share

Market pulls back on stock over the past week

New 90-day low: Mex$113

Energy Transfer LP to Report Q3, 2020 Results on Nov 04, 2020

Energy Transfer Announces Executive Changes

Energy Transfer LP to Report Q2, 2019 Results on Aug 07, 2019

New 90-day low: Mex$123

New 90-day low - Mex$137

Energy Transfer LP to Report Q2, 2020 Results on Aug 05, 2020