Opinions
Gordon Reid
Energy Transfer LP
ET-N
DON'T BUY
Oct 22, 2024
Stock price when the opinion was issued
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Dividend very high (~9%), and is a good way to get exposure to energy infrastructure. Ukraine war has increased demand for domestic energy reliance. Good time to buy, and would recommend for a long term hold. Expecting earnings to increase, and would advise buying at anything below $10.
Our PAST TOP PICK with ET has triggered its stop at $15. To remain disciplined, we recommend covering the position at this time. This will result in a net investment gain of 22% when combined with the previous buy recommendations.
The oil and natural gas products that move through pipelines are an integral part of our modern way of life. From the clothes you wear and the food you eat to the transportation you use, oil and natural gas touch your life in thousands of ways you have never imagined. Social media mentions are up 400% in the past 24h.
Consider tax implications for owning this, for Canadians owning a limited partnership. Pays a nice dividend, but you will be taxed on this. Look at Canadian dividend payers in natural gas, instead, like Tourmaline.