I Wouldn't Even Consider Buying This Stock Just a Few Years Back. Now I Can't Stop Buying Shares.
Energy Transfer's (NYSE: ET) aggressive expansion in years past put it in a difficult financial position. That all came to a head in 2020 when deteriorating market conditions during the pandemic left the midstream company with no choice other than to slash its distribution so it could retain additional cash to shore up its finances.
Because of its issues and that payout cut, I wouldn't even consider buying any more units of the master limited partnership (MLP).
However, Energy Transfer has come a long way over the past few years. Its balance sheet is back on solid ground, enabling it to return its payout to its pre-pandemic level earlier this year. It has since raised its distribution past that prior peak and sees more growth ahead. That vast improvement has me gobbling up units of the high-yielding MLP this year.
Source Fool.com
MLP SE Stock
Our community is currently high on MLP SE with 3 Buy predictions and 0 Sell predictions.
As a result the target price of 10 € shows a very positive potential of 77.94% compared to the current price of 5.62 € for MLP SE.
