Energy Transfer is a great stock to buy when it's down.

Energy Transfer ( ET ) has long been a favorite among income investors, and with the stock down roughly 20% from its recent high, the setup now looks even better. The pullback has pushed the stock's yield to nearly 8%. Its distribution is well covered by its distribution cash flow ( operating cash flow minus maintenance capital expenditures ), while the company has significantly improved its balance sheet over the past several years.

For patient investors looking for steady income and solid growth potential, Energy Transfer stands out as one of the most appealing long-term buys in the pipeline space .

A pipeline giant

Energy Transfer owns one of the largest integrated midstream systems in North America. It transport

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