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ET - Energy Transfer: AI Boom Supports Midstream As Well
Energy Transfer LP
2024-07-04 10:32:14 ET
Summary
Energy Transfer demonstrates improving profitability, which aids in deleveraging the balance sheet. Both factors are crucial for dividend safety.
Accelerated investments in data centers provide a significant tailwind for large midstream companies like ET.
Valuation analysis suggests ET's fair value is $19.85, 22% higher than the last close.
Introduction
I gave a 'Strong buy' recommendation for Energy Transfer ( ET ) in April. I am quite happy because ET delivered almost 5% return to investors after my recommendation....