|Bid||5.41 x 28000|
|Ask||5.42 x 3000|
|Day's range||5.26 - 5.56|
|52-week range||3.75 - 13.86|
|Beta (5Y monthly)||2.56|
|PE ratio (TTM)||10.30|
|Earnings date||04 Nov 2020|
|Forward dividend & yield||1.22 (21.59%)|
|Ex-dividend date||06 Aug 2020|
|1y target est||10.00|
After a 50% dividend cut is midstream giant Energy Transfer's a great opportunity, or are there still problems to worry about here?
The midstream partnership made a big change after the close of trading yesterday. Investors were not pleased.
Energy Transfer's (NYSE: ET) distribution is the latest victim of this year's downturn in the energy market. The master limited partnership (MLP) cut its quarterly payout in half (from $0.305 per unit to $0.1525 per unit) in response to the turbulence and uncertain market conditions. While Energy Transfer had repeatedly said that it didn't need to reduce its distribution, the market had priced one in given its recent yield of nearly 20%.