Why I Just Bought More of This Ultra-High-Yield Dividend Stock
My long-term financial goal is for my portfolio to generate more than enough passive income to cover my expenses. I have a long way to go. Because of that, I'm steadily buying income-producing investments.
My latest purchase was additional units of Energy Transfer (NYSE: ET). The master limited partnership (MLP) offers a big-time distribution that's on a much more sustainable foundation after the company recently achieved its target leverage ratio. Here's why I think it's an attractive option for income investors.
The main draw of Energy Transfer is its massive distribution. The midstream energy company currently pays out $0.305 per unit quarterly. With its unit price recently at around $12.75 apiece, that gives it an eye-popping 9.6% yield.
Source Fool.com
