Energy Transfer stock has potential for high growth, aiming to double by 2029.

From Yahoo Finance: 2024-08-24 18:53:00

Investors are eyeing Energy Transfer (NYSE: ET) for its high yield of 7.9% and potential growth. The company plans to increase its distribution by 3% to 5% annually. Energy Transfer has significant growth opportunities due to its expansive integrated system in the U.S. It expects to spend around $3 billion per year on new projects. With demand for natural gas increasing, the stock could potentially double by 2029, reaching $30 if it can command a 10x EV/EBITDA multiple. Despite not being a top pick by Stock Advisor, Energy Transfer offers a solid investment opportunity for future growth and returns.



Read more at Yahoo Finance: Energy Transfer Stock Will Nearly Double in 5 Years