Energy Transfer LP (ET)

[downthehatch]

I'm not sure about that.
After all, in the ET investor presentation published last week, the presentation described how they had almost 2x coverage for the MLP payout (dividend).

https://ir.energytransfer.com/static-files/c7fbd8bd-322c-4b3e-ba25-c1b7ee487a43

How could management justify cutting the payout, if the investor presentation is accurate?

You'd have to believe that almost all of ET's customers will go bankrupt, and stop paying to transport oil/gas, to think that the company's revenue is about to take a 50% hit.

I think ET will come back, as it is clear the economy has not stopped, and the economy will come back. When oil prices will recover is another story, but they won't stay this low forever, IMO.