Why Units of Energy Transfer Jumped Almost 12% in January
Units of Energy Transfer (NYSE: ET) rallied 11.9% in January, according to data provided by S&P Global Market Intelligence. The master limited partnership (MLP) picked up where it left off last year when it surged 44%. A notable catalyst was that the energy company increased its distribution once again last month.
Energy Transfer declared its latest cash distribution to investors on Jan. 25. The MLP is paying $0.305 per unit, or $1.22 per unit annualized, which is 15% higher than the previous quarter's payment level. That pushed the company's distribution yield over 9%, even with last month's rally.
With that increase, Energy Transfer has boosted its payout by about 75% over the past year. It has now achieved its goal of returning its distribution to a pre-pandemic level:
Source Fool.com
