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Energy Transfer operates one of the largest portfolios of energy infrastructure in North America. The midstream sector is largely fee-based, which suggests consistent performance from a giant like Energy Transfer.
Energy Transfer has a nice stable fee-based business. After a distribution cut, the company has consistently raised its distribution over the past two years.
Energy Transfer LP (ET) reachead $15.78 at the closing of the latest trading day, reflecting a +0.57% change compared to its last close.
My previous bullish thesis aged well as Energy Transfer LP has delivered a 17% total return since mid-December, outperforming the broader U.S. market. The company demonstrates consistently improving operating leverage and the management's guidance for 2024 suggests that the profitability expansion trend will persist. My valuation analysis suggests that the stock is around 30% undervalued.
Energy Transfer is a leading North American midstream operator, moving ~35% of all US produced crude and ~30% of all US produced natural gas along ~125k miles of pipeline. ET recently closed its highly complementary $7.1B acquisition of Crestwood Equity Partners with synergies ~15% of deal value after doubling initial estimates to now expect $80MM run-rate from 26E. Forward dividend yield of ~8% screens as highest in its peer group and is well protected at 1.4x FCF coverage based on 24E consensus.
Recently, Zacks.com users have been paying close attention to Energy Transfer LP (ET). This makes it worthwhile to examine what the stock has in store.
Once you reach the age of 73, there's no getting around Required Minimum Distributions (RMDs). Yet while there's no getting around making this compulsory withdrawal from your 401(k) or IRA, consider investing it rather than spending it.
Energy Transfer is a large North American midstream energy company. It's a complex business and includes a couple of "children.
Here is how Energy Transfer LP (ET) and MPLX LP (MPLX) have performed compared to their sector so far this year.
Conservative capital spending by upstream players could hurt demand for partnerships' midstream assets. Enterprise Products (EPD), Plains All American Pipeline (PAA) and Energy Transfer (ET) are surviving the industry challenges.