This Ultra-High-Yield Dividend Stock Enters 2024 as a Screaming Bargain

Energy Transfer (ET 0.14%) is coming off a strong year. The master limited partnership (MLP) delivered solid earnings growth, fueled by organic expansion and two acquisitions. That growth helped power a 16% increase in its unit price. Meanwhile, its big-time distribution pushed its total return to 28%.Despite that solid showing last year, Energy Transfer remains a screaming bargain with one of the lowest valuations in its peer group. Add that to its high-yielding payout (currently 8.9%) and growth prospects ...