ET - This Ultra-High-Yield Dividend Stock Is Safer Than It Has Ever Been
2024-02-17 08:29:00 ET
Energy Transfer (NYSE: ET) has come a long way over the past few years. The master limited partnership (MLP) has worked hard to shore up its financial position. That included slashing its distribution in half a few years ago to retain additional cash for debt reduction.
The energy midstream company has since rebuilt its distribution, which is now higher than its prior peak. That bigger payout, which currently yields 8.7%, is on an extremely firm foundation. That was one of the key takeaways from the MLP 's recent fourth-quarter earnings conference call .
On the call, Energy Transfer's co-CEO and CFO, Tom Long, discussed the company's much-improved financial situation. He commented, "As a result of our continued emphasis on strengthening our balance sheet, we are in the strongest financial position in Energy Transfer history."
For further details see:
This Ultra-High-Yield Dividend Stock Is Safer Than It Has Ever Been