Want $1,000 a Year in Passive Income from Energy Transfer LP (ET) Stock? Here's How Many Shares You'd Need.
The stock's fat dividend yield of 6.2% will generate significant passive income from the get-go.
Overview
We all want extra income, right? That can be especially true in retirement, but even working folks can put extra income to good use. A fine stock to consider for passive income is Energy Transfer (NYSE: ET), which was sports a hefty dividend yield of 6.2%.
If you're seeking $1,000 in annual income, how many shares of Energy Transfer would you need? Well, the current annual dividend for the stock is $1.36. So divide $1,000 by that and you'll arrive at 735. That's the number of shares you'll need for $1,000 in annual passive income from this stock.
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Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.