ET - Energy Transfer: Steady As It Goes Even At 9% Yield
2024-02-13 08:00:00 ET
Summary
- Energy Transfer LP (ET) has returned a combined 6.93% since September 7, with share appreciation and dividends.
- ET has grown its asset base and finalized a $7.1 billion deal to acquire Crestwood, expanding its gas gathering and processing capabilities.
- The company operates in the oil and gas storage industry, managing the flow of natural gas and crude oil in the US.
Investment Rundown
Since my last coverage on Energy Transfer LP (ET), the stock has returned 2.43% in share appreciation, but investors have also been able to collect $0.63 in dividends, as well which compared to today's share price of around $13.9 is a 4.5% return, making for a combined return of 6.93% since September 7. This is still below what the S&P has averaged during that period, but as I made it clear in my previous article, investing in ET is a lot more about holding stock in a stable and steadily growing utility business that can reliably deliver and grow on its dividend for investors....
Energy Transfer: Steady As It Goes, Even At 9% Yield