CA - Energy Transfer: Solid Results Show The Company's Value As A Core Income Holding

2024-02-16 18:08:33 ET

Summary

• Energy Transfer LP's fourth-quarter earnings results were apparently mixed, with a revenue miss but an earnings beat.
• The market reacted positively to the earnings report, pushing Energy Transfer's common unit price up 3.44% over the past week.
• Energy Transfer outperformed the Alerian MLP Index, indicating its strength compared to other master limited partnerships.
• The company delivered year-over-year growth, which appears to have been partly driven by the Crestwood acquisition.
• The company should continue to be a solid core holding for investors who are seeking income.

On Wednesday, February 14, 2024, Energy Transfer LP ( ET ), one of the largest midstream master limited partnerships ("MLPs") in the United States, announced its fourth-quarter 2023 earnings results. At first glance, the company's earnings results appear somewhat mixed, as Energy Transfer missed the expectations of its analysts in terms of top-line revenue, although it did still manage an earnings beat. For its part, the market appeared to be reasonably satisfied with the earnings report, as it pushed Energy Transfer's common unit price up 3.44% over the five-day period surrounding the announcement. That was a better performance than the 0.06% gain that the S&P 500 Index ( SP500 ) managed. It also managed to beat the Alerian MLP ETF ( AMLP ) over the same period:

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