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Energy Transfer LP ET

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Stock XNYS Rating as of
$15.94 +0.03 (0.17%)
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As of Delayed Price Closed
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Company Report

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Energy Transfer Earnings: M&A Drives Guidance Increase in Solid Quarter

Stephen Ellis

Energy Transfer’s first-quarter earnings were generally solid, thanks to healthy volumes and an incremental $250 million marketing contribution from weather-related volatility. Overall EBITDA improved 13% year over year to $3.88 billion. The recent acquisitions of Crestwood and Lotus were the primary contributors. Even excluding their contributions, crude oil volumes were up 14% year over year, which we consider a strong performance. After updating our model, our $21 fair value estimate and no-moat rating remain unchanged.

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Price vs Fair Value

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ET is trading at a 220% premium.
Price
$15.94
Fair Value
$28.00
Uncertainty
Medium
1-Star Price
$54.16
5-Star Price
$19.40
Economic Moat
Jbgc
Capital Allocation
Vdpj

Bulls Say, Bears Say

Bulls

Energy Transfer's consolidation in October 2018 reduced the company's cost of capital and helped fund its growth projects over the last few years.

Bears

A long-running legal battle threatens to halt operations on the Dakota Access pipeline, demonstrating the substantial legal and regulatory risk Energy Transfer faces.

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News

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Trading Information

Previous Close Price
$15.91
Day Range
$15.78–16.01
52-Week Range
$12.21–16.40
Bid/Ask
$15.91 / $15.92
Market Cap
$53.72 Bil
Volume/Avg
15.2 Mil / 11.6 Mil

Key Statistics

Price/Earnings (Normalized)
13.14
Price/Sales
0.65
Dividend Yield (Trailing)
7.72%
Dividend Yield (Forward)
7.87%
Total Yield
7.87%

Company Profile

Energy Transfer owns a large platform of crude oil, natural gas, and natural gas liquid assets primarily in Texas and the U.S. midcontinent region. It also has gathering and processing facilities, one of the largest fractionation facilities in the U.S., and fuel distribution. Energy Transfer also owns the Lake Charles gas liquefaction facility. It combined its publicly traded limited and general partnerships in October 2018.
Sector
Energy
Industry
Oil & Gas Midstream
Stock Style Box
Large Value
Total Number of Employees
13,786
Website
https://www.energytransfer.com

Competitors

Valuation

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Metric
ET
WMB
EPD
Price/Earnings (Normalized)
 13.1420.3311.19
Price/Book Value
 1.803.892.26
Price/Sales
 0.654.561.21
Price/Cash Flow
 5.098.247.66
Price/Earnings
ET
WMB
EPD

Financial Strength

Metric
ET
WMB
EPD
Quick Ratio
 0.930.370.61
Current Ratio
 1.180.520.93
Interest Coverage
 3.184.055.45
Quick Ratio
ET
WMB
EPD

Profitability

Metric
ET
WMB
EPD
Return on Assets (Normalized)
 5.75%4.89%8.30%
Return on Equity (Normalized)
 22.11%20.70%21.13%
Return on Invested Capital (Normalized)
 9.47%8.53%12.21%
Return on Assets
ET
WMB
EPD
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