ET - Energy Transfer Isn't Done Making Deals
2024-05-21 07:31:00 ET
Acquisitions are supplying Energy Transfer (NYSE: ET) with lots of fuel this year. The master limited partnership (MLP) closed two sizable deals last year, while its affiliate, Sunoco (NYSE: SUN) , recently made a needle-moving acquisition. This trio of deals has the company on track to grow its earnings by around 10% this year.
The MLP made it clear on its first-quarter conference call that consolidation in the midstream space continues to make sense. Here's a look at what the company is seeking in future deals.
Energy Transfer's co-CEO and CFO, Tom Long, discussed the company's acquisition strategy on the call. He stated that the MLP is always looking for an opportunity that would "feed all the way downstream." He said, "We always like to talk about how we go from wellhead to the water, and we do it across all the commodities."
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Energy Transfer Isn't Done Making Deals