Analyst Note
| Travis Miller |We are cutting our Energy Transfer fair value estimate to $18 per unit from $20 after the company announced plans to acquire Enable Midstream Partners in a $7 billion all-equity transaction, including assumed debt.
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We are cutting our Energy Transfer fair value estimate to $18 per unit from $20 after the company announced plans to acquire Enable Midstream Partners in a $7 billion all-equity transaction, including assumed debt.
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. Its pipeline network transports about 22 trillion British thermal unit per day of natural gas and 4.3 million barrels per day of crude oil. 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, which it plans to convert into one of the largest LNG export facilities. It combined its publicly traded limited and general partnerships in October 2018.