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Energy Transfer LP ET

Morningstar Rating
$15.44 +0.03 (0.19%)
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Company Report

Finding Undervalued Opportunities From AI and Data Center Demand in E&Ps and Midstream

We think AI and data center demand offers a potentially sizable growth opportunity across our US E&P and US & Canadian midstream coverage list. We consider Chart Industries, Energy Transfer, Enbridge, Kinder Morgan, and TC Energy as undervalued ways to play this trend. Cheniere Energy and Williams are more fairly valued, while Antero, Range, and likely EQT (not covered) are obvious direct opportunities and appear expensive.

Price vs Fair Value

ET is trading at a 263% premium.
Price
$15.44
Fair Value
$41.00
Uncertainty
Medium
1-Star Price
$47.49
5-Star Price
$84.80
Economic Moat
Wfzr
Capital Allocation
Knqp

Bulls Say, Bears Say

Bulls

Energy Transfer's consolidation in October 2018 reduced the company's cost of capital and helped fund its growth projects over the last few years.

Bears

A long-running legal battle threatens to halt operations on the Dakota Access pipeline, demonstrating the substantial legal and regulatory risk Energy Transfer faces.

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News

Trading Information

Previous Close Price
$15.41
Day Range
$15.3815.61
52-Week Range
$12.3116.40
Bid/Ask
$15.42 / $15.46
Market Cap
$52.03 Bil
Volume/Avg
12.2 Mil / 11.2 Mil

Key Statistics

Price/Earnings (Normalized)
12.50
Price/Sales
0.62
Dividend Yield (Trailing)
8.14%
Dividend Yield (Forward)
8.24%
Total Yield
8.13%

Company Profile

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. 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. It combined its publicly traded limited and general partnerships in October 2018.
Sector
Energy
Industry
Oil & Gas Midstream
Stock Style Box
Large Value
Total Number of Employees
13,786

Competitors

Valuation

Metric
ET
WMB
EPD
Price/Earnings (Normalized)
12.5020.6110.96
Price/Book Value
1.723.942.21
Price/Sales
0.624.631.19
Price/Cash Flow
4.848.367.50
Price/Earnings
ET
WMB
EPD

Financial Strength

Metric
ET
WMB
EPD
Quick Ratio
0.930.370.61
Current Ratio
1.180.520.93
Interest Coverage
3.184.055.45
Quick Ratio
ET
WMB
EPD

Profitability

Metric
ET
WMB
EPD
Return on Assets (Normalized)
5.75%4.89%8.30%
Return on Equity (Normalized)
22.11%20.70%21.13%
Return on Invested Capital (Normalized)
9.47%8.53%12.21%
Return on Assets
ET
WMB
EPD
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Oil & Gas Midstream Industry Comparables

Ticker
Name
Morningstar Rating for Stocks
Capital Allocation
Economic Moat
Market Cap
ENB
Enbridge IncWglctfrfjXfnvnvf$76.7 Bil
EPD
Enterprise Products Partners LPJzqzgsbltHtmx$61.3 Bil
WMB
Williams Companies IncFvnvrzyhSqwqv$48.9 Bil
OKE
ONEOK IncJcyccbdxDhlrnt$48.2 Bil
KMI
Kinder Morgan Inc Class PZbcffgzzQdqxdd$42.3 Bil
MPLX
MPLX LP Partnership UnitsBgmqcyxqGtfxwn$41.1 Bil
TRP
TC Energy CorpZhxksycMzkgzdy$39.6 Bil
LNG
Cheniere Energy IncHhhgtjfxkZwhp$36.6 Bil
TRGP
Targa Resources CorpLfjwjvnNddt$25.3 Bil

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