ET - After Nearly $9 Billion of Acquisitions in 2023 This 8.7%-Yielding Energy Stock Is Ready for More in 2024
2024-02-21 05:12:00 ET
Energy Transfer (NYSE: ET) was busy last year. The master limited partnership (MLP) made two acquisitions. It bought Lotus Midstream for nearly $1.5 billion and merged with fellow MLP Crestwood Equity Partners in a $7.1 billion deal.
Despite making nearly $9 billion in acquisitions last year, the MLP is ready for its next deal if the right opportunity emerges. Here's a look at the impact of its most recent transaction and what it's looking for in the next one.
Energy Transfer closed its acquisition of Crestwood in early November. The deal helped give the company the fuel to set several operational records last year while delivering earnings above the high end of its guidance range. "Integration of the combined operations has been going very well," said co-CEO Tom Long on the fourth-quarter call .
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After Nearly $9 Billion of Acquisitions in 2023, This 8.7%-Yielding Energy Stock Is Ready for More in 2024