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- Energy Transfer (NYSE:ET) is scheduled to announce Q1 earnings results on Wednesday, May 8th, after market close.
- The company on February 14 reported Q4 distributable cash flow attributable to partners, as adjusted, of $2.03 billion compared to $1.91 billion for the same period last year.
- ET has a Quant rating of “HOLD”, with a 3.44 rating score.
- ET has an industry ranking of 21 out of 56 among oil and gas storage and transportation stocks, as per SA’s Quant ranking.
- Wall Street rates the ET stock “STRONG BUY” and Seeking Alpha authors rate it “BUY”.
- In 2023, ET stock rose 28%, while the S&P 500 Energy Sector Index fell 4.8%. The benchmark S&P 500 Index rose 24.2% for the year.
- Stock is up 16.9% so far this year as of Monday’s close.
Recent commentary on ET
Mizuho in April said Energy Transfer has outperformed Midstream peers year-to-date, albeit to a lesser extent than certain operators despite a strong free cash flow outlook and Permian leverage.
“We believe ET could capitalize on its improved credibility by providing a more detailed capital allocation framework. Successful messaging represents a significant company-specific catalyst that would better allow investors to capitalize its strong free cash flow position (e.g. WES). Of course, ET has more moving parts in terms of M&A appetite / larger project risk that could dilute the message, but a simple unit repurchase plan or stronger distribution growth represent available levers. Reiterate Buy and raise PT to $19. ET is our new Midstream top pick,” they said.
