Energy Transfer LP (ET) Is Being Hurt Due To Trade Talks, Says Jim Cramer

Energy Transfer LP (NYSE:ET) is one of the Jim Cramer Says Trump’s Angry At Everybody & Discusses These 11 Stocks.

Energy Transfer LP (NYSE:ET) is one of the largest oil and gas midstream companies in the US. The firm stores and transports oil and gas across the US. Energy Transfer LP (NYSE:ET)’s shares have lost 10% year-to-date primarily due to economic uncertainty weighing down the demand for energy in the US. Cramer’s remarks about the firm revolved around ethane and US trade negotiations with China. The CNBC host has regularly pointed out that ethane is a key leverage point available to the US to try to gain an advantage over China in the negotiations. In a morning appearance last month, he shared that ethylene was “the one thing that they’re panicked on in China” due to large-scale plastics production. This time around, Cramer took a slightly different tone:

“Look Rusty [Rusty Braziel, RBN Energy chairman] said last night that the US is trying to hold China hostage on ethane. Ethane’s been stopped, we make a lot of ethane because of natural gas liquids. But the Chinese just switched to other countries. So the companies that are being hurt, ET is being hurt. . . .that’s Energy Transfer . . . that’s a lot of ethane. It’s not ethane versus rare minerals. Carl, ethane is a little less rare than rare, okay.”

In his previous comments about Energy Transfer LP (NYSE:ET), Cramer advised viewers to consider dividend yield when buying the stock:

“Yes. ET is smart. I mean, look, you buy, this is the way you buy ET, just so you know, this is a pipeline company. You, you, you buy it by the percentage yield. So it’s got a 7% yield now, you buy some, 8, you buy some, 9, you buy some. That’s how you buy these stocks and I’m gonna continue to pound that that’s the way to do it.”

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READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

Disclosure: None. This article is originally published at Insider Monkey.