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Energy Transfer LP ET

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Morningstar’s Analysis

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Stewardship

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Mariner East Reroute Another Hiccup for Energy Transfer but No Valuation Impact

Travis Miller Strategist

Analyst Note

| Travis Miller |

We are reaffirming our $20 fair value estimate for Energy Transfer after Pennsylvania officials ordered the company to pursue an alternative route for about one mile of its 670-mile Mariner East pipeline following a drilling fluid spill in August.

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Company Profile

Business Description

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.

Contact
8111 Westchester Drive, Suite 600
Dallas, TX, 75225
T +1 214 981-0700
Sector Energy
Industry Oil & Gas Midstream
Most Recent Earnings Jun 30, 2020
Fiscal Year End Dec 31, 2020
Stock Type Hard Assets
Employees 12,812

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