Energy Transfer LP (ET), a $25.04 billion market cap company based in Texas, USA, is an attractive stock for income investors. Top-end financial blogs put it among the top dividend yielding stocks globally.
Despite not being the leader in percentage dividend yields, this natural gas and propane pipeline transport stock is a magnet for a number of reasons.
On July 12, 2019, Energy Transfer traded at a price average of about $25.02 on NYSE, with minor upward and downward trends. Over the past 5 days, the company’s stock price hit a high of $25.04 and a low of $24.84. It has a 54-week high of $25.14 and a low of $24.26, a demonstration of relative stability.
Dividend and Stability
On that backdrop of Energy Transfer’s performance, stability, and dividend yields, we consider it one of the top dividend stocks to bet on right now. In their latest payout, the company posted a distribution yield of 8.6%, which is lucrative for a company of its caliber. The stock’s stability over the short and long term make it a good pick for every income investor.
Energy Transfer Financial Postings
In the first quarter ending March 31, 2019, Energy Transfer posted a record-breaking performance that cut across different metrics. In the report, which was released on May 8, 2019, the company reported an adjusted EBITDA of $2.8 billion and a distributable cash flow of $1.66 billion.
Looking at the figures, Energy Transfer, therefore, had an adjusted EBITDA growth of a whopping 40% year-over-year, with an almost similar percentile distributable cash flow increase of 39% compared to the same period last year.
This admirable performance was recorded across all of its business segments, including crude, refined products, and NGLs. The growth was attributed to the global rise in demand for gas products.
Growth and Expansion Prospects
Energy Transfer LP (ET) recently announced its plans to construct its seventh NGL fractionation facility in Mont Belvieu, Texas, with a per day capacity of 150,000. The planned plant is expected to kick-off its operations in the first quarter of next year. This comes on the heels of the company’s other expansion projects in Bakken and Permian Express.
Investment experts believe that Energy Transfer has a beautiful outlook this year.