#3 - Energy Transfer (NYSE:ET)
When analyzing midstream energy companies with attractive high-yield dividends, Energy Transfer LP (NYSE: ET) is often brought up alongside Enbridge. In fact, Energy Transfer has a slightly higher yield than Enbridge at 7.06%.
Energy Transfer doesn’t offer exposure to the clean energy sector, but it does have investments in a compression business and a fuel distribution provider.
Energy Transfer drew the ire of some shareholders after cutting its dividend in 2020. At the time, there was a lot of uncertainty regarding the economy, so the cut may have been a prudent move. It’s important to note that the dividend is on the rise and somewhat aggressively at that. The company isn’t a yield trap, and with natural gas demand likely to remain at elevated levels, ET stock is a high-yield dividend stock to consider.
About Energy Transfer
Energy Transfer LP provides energy-related services. The company owns and operates natural gas transportation pipeline, and natural gas storage facilities in Texas and Oklahoma; and approximately 20,090 miles of interstate natural gas pipeline. It also sells natural gas to electric utilities, independent power plants, local distribution and other marketing companies, and industrial end-users.
More about Energy Transfer- Current Price
- $17.88
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 10 Buy Ratings, 1 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $22.64 (26.6% Upside)
