ET - Energy Transfer: More Double-Digit Gains Are Warranted

2024-05-15 23:59:45 ET

Summary

• Energy Transfer's stock has hit a 52-week high, up 30.2% from its lows, and remains undervalued with potential for additional upside.
• The company's first-quarter results showed a 13.9% increase in revenue and an 8.6% rise in net income compared to the previous year.
• Management's updated guidance for the fiscal year 2024 suggests further growth, with EBITDA expected to increase and additional investments planned.

If you follow my work closely, there is a high chance that you know that one of my favorite companies on the market is none other than midstream/pipeline giant Energy Transfer ( ET ). In fact, as of this writing, the company is my third-largest holding in my portfolio, accounting for 13.4% of said assets. Obviously, times have been pretty good for me when you consider that shares just hit a fresh 52-week high point. In fact, even though the stock has pulled back ever so slightly, shares are still up 30.2% compared to their 52-week lows....

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