Why Units of Energy Transfer Skyrocketed 44% in 2022
Units of Energy Transfer (NYSE: ET) soared 44.2% in 2022, according to data provided by S&P Global Market Intelligence. That far outpaced the broader market, as the S&P 500 tumbled 19.4% for the year.
The master limited partnership (MLP) benefited from strong conditions in the energy market. That catalyst and its improving balance sheet gave it the fuel to provide investors with a massive distribution increase.
Energy Transfer benefited from strengthening conditions in the energy market last year. Higher oil and gas prices incentivized producers to increase their output, which boosted the volumes flowing through the company's pipeline system and other assets. Energy Transfer also benefited from acquisitions and expansion projects.
Source Fool.com
