This Ultra-High-Yielding Dividend Stock Is Making Big Strides to Supercharge Growth

Energy Transfer's (NYSE: ET) main attraction is its monster cash distribution. The master limited partnership (MLP) currently yields 7.5%, multiples above the S&P 500's 1.5% dividend yield.

The energy company also offers investors attractive upside potential. Energy Transfer has several potentially needle-moving expansion projects in the pipeline that could supercharge its growth in the coming years. One of the biggest is its Lake Charles LNG export facility. It recently made another big stride toward securing the contracts needed to move forward, putting it closer to approving that project.

Energy Transfer has entered into a 20-year liquified natural gas (LNG) sale and purchase agreement with energy giant Shell (NYSE: SHEL) for its Lake Charles LNG project. Under the agreement, Energy Transfer will supply Shell with 2.1 million tons of LNG annually. It expects to start making those deliveries in 2026 when it hopes Lake Charles LNG will come online.

Source Fool.com