Energy Transfer (NYSE: ET) has caught the attention of many investors due to its impressive 7.9% yield. With a quarterly distribution of $0.32 and plans to increase it annually by 3% to 5%, the company offers an enticing opportunity for income seekers.
However, beyond its attractive yield, I believe that Energy Transfer’s stock has the potential to almost double in value over the next five years.
This growth would be driven by a combination of expansion projects and an increase in valuation, as investors recognize the company’s potential.
Let’s delve into the reasons why I am optimistic about Energy Transfer’s stock doubling in value by 2024.
Expansive Growth Prospects
As one of the leading midstream companies in the U.S., Energy Transfer boasts an extensive network that spans the nation. Its involvement in various aspects of the midstream sector, including transportation, storage, and processing of hydrocarbons, positions it well for growth. The scale and diversity of its operations provide numerous…
2024-08-24 17:53:00
Article from finance.yahoo.com