Why Energy Transfer Units Rose 12% in April
Units of Energy Transfer (NYSE: ET), a master limited partnership focused on the midstream sector of the energy market, rose about 12% in April according to data from S&P Global Market Intelligence. There was some company news, but also some Wall Street news that helped things along.
On the company level, Energy Transfer got word back from the SEC that its acquisition of Enable Midstream (NYSE: ENBL) could move forward. Since just two companies own 79% of Enable, the acquisition is basically a done deal at this point. That's a positive, given that the purchase is expected to be one of several catalysts that could spark a business recovery for Energy Transfer.
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Source Fool.com
