ET - The Best Energy Stock to Invest $1000 in Right Now
2024-04-24 04:15:00 ET
The news over the past year or so has sparked more than its share of discussion about the uncertainties in the economy, especially as it relates to geopolitical tensions across the globe. These tensions and uncertainties have economists worried that inflation will remain elevated. It also has some wondering if the U.S. can navigate a soft landing from the economic fallout caused by the pandemic.
Given this uncertain economic environment, one strong investment option to consider is midstream energy specialist Energy Transfer (NYSE: ET) . If you have $1,000 available to invest , now might be a great time to put it toward stock in Energy Transfer. Here's why.
One of the first things that attracts investors to Energy Transfer is its attractive 8% yield. That yield gives investors $80 in distribution income annually for every $1,000 they invest. As an added bonus, since Energy Transfer is structured as a master limited partnership (MLP) most of that distribution income is tax deferred until the investment is sold. While owning MLPs requires that investors fill out special tax forms called K-1s , they are generally easy to manage if you use a tax preparation program such as Intuit 's TurboTax.
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The Best Energy Stock to Invest $1,000 in Right Now