Energy Transfer Tops Strong Earnings With An Intelligent Acquisition

Summary:

  • Energy Transfer LP reported strong Q1 2024 earnings, with double-digit growth in net income and adjusted EBITDA.
  • The company is acquiring WTG Midstream for over $3 billion, expanding its natural gas pipeline and processing network.
  • Energy Transfer aims to generate strong shareholder returns through unit buybacks and continued growth in dividend yield.

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Energy Transfer LP (NYSE:ET) is among the largest midstream companies in the world, with a market capitalization of more than $50 billion. The company has an impressive and connected portfolio of assets it utilizes to generate strong cash flow, and


Analyst’s Disclosure: I/we have a beneficial long position in the shares of ET either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.


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