2024-03-22 10:26:23 ET
Summary
- Energy Transfer LP stock is still a buy in my view despite a price near multi-year peak levels.
- It has a projected EPS annual growth rate of 7%+, which I think is feasible given catalysts like the acquisition of Crestwood Equity Partners.
- Valuation metrics, including Graham's approach, still suggest that ET is undervalued compared to its market price.
- At the same time, an ~8% dividend provides nonnegligible downside protection in the case of a market downturn.
ET is a still a buy
My last article on Energy Transfer LP ( ET ), published in Oct 2023, argued for a strong buy thesis. The argument was largely built on the potential for oil price recovery, considering catalysts like the persisting inflation and the Israel-Gaza conflict....
Read the full article on Seeking Alpha
For further details see:
Energy Transfer: Still Discounted According To Graham