This Big-Time Dividend Stock Has Encountered a Huge Growth Roadblock
Energy Transfer (NYSE: ET) has spent years trying to get a project to convert its Lake Charles facility from importing natural gas to exporting liquified natural gas (LNG) off the ground. It has faced several obstacles in that development, including losing its joint venture partner and having to press pause on the project due to lower prices during the pandemic. These delays have made it so that the company might not finish the project before its export approval from the Department of Energy (DOE) expires.
The company had asked the DOE for an extension, which it recently denied. That puts the project at risk of never coming to fruition, which would be a blow to Energy Transfer's long-term growth prospects. It could impact its ability to deliver on its plan of growing its 9.9%-yielding distribution in the coming years. Here's what the company's management team had to say about this disappointing development on the first-quarter conference call.
Energy Transfer's CFO Tom Long gave a brief update on Lake Charles LNG during his prepared remarks on the call. He stated:
Source Fool.com
Royal Dutch Shell B Stock
With 0 Sell predictions and 1 Buy predictions the community sentiment towards the Royal Dutch Shell B stock is not clear.
With a target price of 24 € there is a slightly positive potential of 6.43% for Royal Dutch Shell B compared to the current price of 22.55 €.
