Traders Cooperative

[Joe Stocks]

ET - Out with good earnings. Happy to see them curtail capital expenditures and use free cash flow to pay down debt and return capital to unitholders. From their earnings release;

In January 2022, Energy Transfer announced a 15% increase in its quarterly distribution on common units. For the quarter ended December 31, 2021, Energy Transfer will pay a quarterly distribution of $0.175 per common unit ($0.70 annualized). Future increases to the distribution level will be evaluated quarterly with the ultimate goal of returning distributions to the previous level of $0.305 per common unit per quarter ($1.22 annualized) while balancing the Partnership’s leverage target, growth opportunities and unit buybacks.

Think about that. If ET paid out $1.22 in dividends and had an 8% yield that would put the price per share at 15.25. That is about 40% higher that the closing price today. Plus get paid to wait.

Earnings report;
https://seekingalpha.com/pr/18675142-energy-transfer-reports-fourth-quarter-2021-results