Where Will Energy Transfer Be in 3 Years?

Energy Transfer (NYSE: ET) has grown into one of the largest energy midstream companies over the years. The master limited partnership (MLP) has invested heavily in completing organic expansion projects and acquisitions. These investments have paid big dividends for investors. The midstream giant currently offers a distribution yielding nearly 7%. It has grown that payout over the years as its investments have increased its cash flow.

The MLP should grow even larger over the next three years. It has several expansion projects under development and a strong balance sheet to continue growing.

Energy Transfer has grown its annual adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) from $13.1 billion in 2022 to $15.5 billion last year. That's more than an 18% increase over the past three years. Acquisitions were the main factor fueling that growth. Energy Transfer bought Woodford Express in 2022, Lotus Midstream and Crestwood Equity Partners in 2023, and WTG Midstream last year.

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Source Fool.com