- Marzo 23, 2022
- Posted by: Oliver
- Categoria: Economics, Finance & accounting
Energy Transfer LP (NYSE: ET): Based in Dallas-TX, Energy Transfer engages in the storage of natural gas as well as transportation of natural gas liquids, natural gas, and crude oil. The $31.4-billion partnership operates mainly in the U.S. and Canada.
Shares of Energy Transfer have swollen 19.2% year-to-date. In the fourth quarter of 2021, Energy Transfer’s earnings per limited partner unit increased 52.6% year-over-year on the back of an 85.9% increase in revenues.
Energy Transfer is well-positioned to benefit from synergies of acquisitions completed in the past few months (including that of Enable Midstream), healthy demand for midstream infrastructure, and growth investments (including in the Gulf Run Pipeline project). A 15% hike in quarterly distributions and debt-reduction efforts are reflective of Energy Transfer’s strong cash position.
Recently, Jeremy Toner, an analyst at J.P. Morgan, maintained a Buy rating on Energy Transfer with a price target of $15 (47.06% upside potential).
Energy Transfer’s Strong Buy consensus rating is based on eight Buys and ET average price target of $13.88 mirrors 36.08% upside potential from current levels. The midstream-service provider scores a ‘Perfect 10’ on the TipRanks Smart Score rating system.
