Energy Transfer Slices its Distribution in Half

Energy Transfer Slices its Distribution in Half

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%.