I have been following this stock for a couple of month and thinking of starting a position. Anyone currently own it, and could share some inside would be greatly appreciated.
Thank y'all in advance.
I have been following this stock for a couple of month and thinking of starting a position. Anyone currently own it, and could share some inside would be greatly appreciated.
Thank y'all in advance.
I own it. Leader in industry. Good cash flow. Great dividend. I expect it to go up when interest rates fall, given high dividend.
also look at epd.
I have a neighbor/occasional fishing partner who recommended it to me last fall. He’s owned it for quite some time, adds to his position on the dips.
Make sure you understand the taxes on an MLP
Thanos was the hero
ET is a master limited partnership. The taxes on the cash distributions are handled differently than say a normal dividend. I also think when you sell the shares, for cap gains tax, its not straight forward like selling normal stocks. I think it's just some different forms and a few added steps involved. You broker might handle it all.
Thanos was the hero
If you buy an MLP you get a K-1 come tax time. It will likely increase the amount you need to pay your CPA to prepare your return and could delay getting all your tax forms in order by filing time. If you are going to buy an MLP make sure it is at a position size where you can justify the added tax expense.
I use to do my own taxes on turbo tax but had to stop once I bought some MLPs. I could not for the life of me figure out how to put the information in turbo tax. Also a lot of that distribution is some return of capital so it is a bit different than a dividend.
I get a couple of K1 each year. The drag is they don't usually show up until mid March at the earliest....
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Actually, do to my other investments and my LLC I have a CPA that does my taxes, and usually I don't get a refund.
An old friend highly recommended Enbridge, another Energy Transfer/pipeline stock that he says yields him a fairly consistent 11% dividend
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