Energy Transfer Showcases Why It Can Continue Growing Its 9.7%-Yielding Payout
Energy Transfer (NYSE: ET) recently increased its already mammoth distribution. The master limited partnership (MLP) now yields a jaw-dropping 9.7%. It expects to continue growing that already enormous payout in the future.
The MLP produces massive cash flow, which helps power this view. They were evident in its recent first-quarter results. They're giving the company plenty of fuel to pay distributions and invest in expanding its operations while maintaining a solid financial foundation.
Energy Transfer generated about $3.4 billion of adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) in the first quarter, roughly 3% above the prior-year period. Meanwhile, it produced around $2 billion of distributable cash flow, about even with the prior-year period. That easily covered the midstream-giant's cash distribution to investors, which totaled $967 million in the period.
Source Fool.com
MLP SE Stock
Our community is currently high on MLP SE with 3 Buy predictions and 0 Sell predictions.
As a result the target price of 10 € shows a very positive potential of 72.71% compared to the current price of 5.79 € for MLP SE.
