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Energy Transfer Making a Comeback, Shares Yield ~8.7%

publication date: Jan 28, 2024
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Image: Energy Transfer is working its way back after a long stretch of underperformance. 

On January 25, Energy Transfer raised its dividend modestly, by 0.8%, to $0.315 per share on a quarterly basis, and while Energy Transfer still has a massive net debt position to the tune of ~$47.6 billion, the firm’s traditional free cash flow of the payout suggests sustainability, absent any exogenous shocks. Standard & Poor’s recently upgraded its unsecured debt rating to BBB with a Stable outlook, and the firm’s capital spending guidance for 2023 was recently lowered, further helping free cash flow. Energy Transfer is staging a comeback, and for risk-seeking income investors, its ~8.7% dividend yield is worth a look.


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