ET - Energy Transfer Adds to Its Pipeline Empire With Another Acquisition. Why That Is a Good Thing for This 8.2% Yielding Stock.
2024-06-05 09:00:00 ET
Energy Transfer (NYSE: ET) continued to build its pipeline and midstream empire when it recently announced the acquisition of WTG Midstream. At a price tag of around $3.25 billion, this is not a transformational deal by any stretch for a company with an over $52 billion market capitalization .
However, it is a good example of what the company does well and why investors should continue to be excited for the stock.
In the past, institutional investors have criticized Energy Transfer for being more concerned about empire building than unitholder returns. In some ways this criticism is fair, but in other ways it is not.
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Energy Transfer Adds to Its Pipeline Empire With Another Acquisition. Why That Is a Good Thing for This 8.2% Yielding Stock.