Energy Transfer: Fundamentals Keep Improving


  • My previous bullish thesis aged well as Energy Transfer LP has delivered a 17% total return since mid-December, outperforming the broader U.S. market.
  • The company demonstrates consistently improving operating leverage and the management’s guidance for 2024 suggests that the profitability expansion trend will persist.
  • My valuation analysis suggests that the stock is around 30% undervalued.

Химический завод в Тай По, Гонконг

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Investment thesis

My previous bullish thesis about Energy Transfer LP (NYSE:ET) aged well as the stock delivered almost 17% total return since mid-December, outperforming the broader U.S. market. The company’s fundamentals are improving steadily, which is a

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. 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.

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