Energy Transfer set for seven straight sessions of gains

Shares of Energy Transfer (NYSE:ET) were on track for their seventh straight session of gains on Thursday, as the stock rose more than 3.8% to $18.98 in afternoon trade.

The crude oil and natural gas pipeline transportation company has gained 6.9% in the last six trading days. The stock has gained more than 33% so far this year, outperforming the broader S&P 500 Index, which has gained over 24%.

ET is up 16% over the past one month. The stock closed 1.78% higher, at $18.28 on Wednesday.

Energy Transfer (ET) co-CEO Mackie McCrea, in public comments, has expressed optimism at Donald Trump’s presidential victory, saying that the incoming U.S. president will bring “a breath of fresh air” to the oil and gas industry

The change of administration assures a financial go-ahead for the company’s $13B liquefied natural gas export facility in Louisiana, McCrea added.

McCrea’s remarks came after Energy Transfer (ET) reported a Q3 net income of $1.18B, roughly double the $584M in the year-earlier quarter, as crude transportation volumes jumped 24.5% to more than 7M bbl/day.

Seeking Alpha’s Quant rating has rated the stock BUY with a score of 4.43 out of 5, factoring in high grades in profitability and momentum. SA Authors have echoed the view with a BUY rating, while the sell side analysts seem extremely optimistic, rating the stock a STRONG BUY.

Seeking Alpha analyst Steven Fiorillo argues that Energy Transfer (ET) is poised to benefit from the Trump administration due to pro-energy policies, less regulation, and increased domestic energy production.

“Risks include high debt, potential lawsuits, and fluctuating oil prices, but the bullish energy landscape and ET’s strategic position outweigh these concerns,” Fiorillo added.