Record Volumes Fueled Robust Results for This 9.5%-Yielding Dividend Stock
Energy Transfer (NYSE: ET) had a third quarter for the record books. The midstream giant reported record volumes across several of its segments, fueling strong earnings and cash-flow growth. The company benefited from the strength of its underlying assets and its dual growth engines of organic expansions and acquisitions.
Those drivers position the master limited partnership (MLP) to continue growing. That will give it the fuel to deliver on its plan to increase its 9.5%-yielding distribution at a 3% to 5% annual rate.
Energy Transfer generated $3.5 billion of adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) during the third quarter, up nearly 15% from the year-ago period. Meanwhile, distributable cash flow came in at almost $2 billion, an increase of over 25% from last year. That was enough cash to cover its monster distribution with $1 billion to spare. The midstream giant benefited from its diversified business model:
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 78.89% compared to the current price of 5.59 € for MLP SE.
