Energy Transfer LP (ET)

[Zexcaliber]

"The company is currently directing all its excess cash after paying its current distribution and funding its capital program toward repaying debt. The MLP repaid $1.5 billion in debt during the second quarter, bringing its year-to-date total to $5.2 billion. That gave two credit rating agencies the confidence to affirm Energy Transfer's investment-grade credit rating and revise their outlook on the MLP from negative to stable. As the company continues to improve its balance sheet, it will have more financial flexibility to return additional cash to investors either through a higher distribution or unit repurchase program."