Here's Why I Still Wouldn't Touch Energy Transfer LP -- Even With That 6.9% Yield

On paper, Energy Transfer LP (NYSE: ET) looks solid. In 2025, the company generated roughly $8.2 billion in distributable cash flow and a coverage ratio of around 1.77x. That's more than adequate.Leverage is also manageable, with net debt of around $60 billion and a debt-to-EBITDA (earnings before interest, taxes, depreciation, and amortization) ratio of around 4.6x. Those are reasonable numbers for a midstream operation.But here's the rub: This is still a capital-heavy business, and Energy Transfer is not a steady-state cash machine. It's a capital-intensive infrastructure company that requires continuous investment to maintain and grow its asset base. Here's why that matters for investors and why I don't think it looks attractive. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool