Published Mon, 29 Oct 2018 23:59:27 -0400 on Seeking Alpha
The stock market is now on track for its worst month in 10 years, and while the S&P 500 isn't technically in a correction, 70% of S&P 500 companies are, with 36% in a bear market.
Corrections like this might be what some investors dread, but I absolutely love them. That's for two reasons. First, despite what some might think, this is not likely to be the start of the next bear market. In fact, the bull market remains alive and well, and likely to continue for the next 18-24 months. That makes this a great opportunity for income investors to go bargain hunting, including for high-quality, low-risk, high-yield stocks that have been left for dead.
That certainly describes Energy Transfer LP (NYSE: ET), which was just created when Energy Transfer Equity (ETE) bought out its MLP Energy Transfer Partners (NYSE: ETP) in an all-stock deal.
Wall Street has hated on Energy Transfer (and MLPs in general) for about four years now, thanks to a perfect storm of negative factors, including:
The worst oil crash in over 50 years Big management missteps that led to two shadow payout cuts Struggles with execution on its growth backlog Long-term interest rates rising off all-time lows
ET Total Return Price data by YCharts
The result has been a brutally long period of massive underperformance that caused many income investors to give up on the stock. However, I'm here to tell you there are five reasons that Wall Street is likely wrong... Read more
|Stock name||Last trade||P/E||Earnings/Share||Dividend/Share||Dividend yield|
|ENERGY TRANSFER PARTNERS||21.79||19.3||1.13||2.26||10.46|
Older articles featuring Energy Transfer Partners (ETP):Energy Transfer Partners' Yield Is Risky - Cramer's Lightning Round (10/16/18)
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