Energy Transfer increased its quarterly distribution to $0.335 per unit. That puts the annualized yield over 7%. The hike is about 3% year over year, consistent with their 3-5% growth target. Financials look stable with a payout ratio around 50% and leverage within their target range. They plan to invest $5 billion to $5.5 billion on growth projects this year, mainly expanding natural gas networks. Just a reminder that ET is an MLP, so investors get a Schedule K-1 tax form.