Energy Transfer LP
ET: XNYS (USA)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
$81.00 | Fqsk | Rtgls |
Energy Transfer: Increasing Our Fair Value Estimate
After updating our model for fourth-quarter earnings and rolling our model, we are increasing our fair value estimate to $21 from $17.50, reflecting higher levels of free cash flow. Our fair value estimate implies a 2024 EV/EBITDA multiple of 8.2 times and a 2024 distribution yield of 6%.