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Energy Transfer LP (ET)



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Upturn Advisory Summary
04/01/2025: ET (2-star) is currently NOT-A-BUY. Pass it for now.
Analysis of Past Performance
Type Stock | Historic Profit 13.22% | Avg. Invested days 60 | Today’s Advisory PASS |
Upturn Star Rating ![]() ![]() | Upturn Advisory Performance ![]() | Stock Returns Performance ![]() |
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Key Highlights
Company Size Large-Cap Stock | Market Capitalization 64.27B USD | Price to earnings Ratio 14.63 | 1Y Target Price 23.2 |
Price to earnings Ratio 14.63 | 1Y Target Price 23.2 | ||
Volume (30-day avg) 15741323 | Beta 1.7 | 52 Weeks Range 13.89 - 21.11 | Updated Date 04/1/2025 |
52 Weeks Range 13.89 - 21.11 | Updated Date 04/1/2025 | ||
Dividends yield (FY) 6.99% | Basic EPS (TTM) 1.28 |
Analyzing Revenue: Products, Geography and Growth
Revenue by Products
Product revenue - Year on Year
Revenue by Geography
Geography revenue - Year on Year
Earnings Date
Report Date - | When - | Estimate - | Actual - |
Profitability
Profit Margin 5.82% | Operating Margin (TTM) 11.67% |
Management Effectiveness
Return on Assets (TTM) 4.8% | Return on Equity (TTM) 14.41% |
Valuation
Trailing PE 14.63 | Forward PE 11.29 | Enterprise Value 139678662656 | Price to Sales(TTM) 0.78 |
Enterprise Value 139678662656 | Price to Sales(TTM) 0.78 | ||
Enterprise Value to Revenue 1.51 | Enterprise Value to EBITDA 8.08 | Shares Outstanding 3431209984 | Shares Floating 3155242344 |
Shares Outstanding 3431209984 | Shares Floating 3155242344 | ||
Percent Insiders 7.21 | Percent Institutions 33.68 |
Analyst Ratings
Rating 4.53 | Target Price 21.61 | Buy 6 | Strong Buy 10 |
Buy 6 | Strong Buy 10 | ||
Hold 1 | Sell - | Strong Sell - | |
Strong Sell - |
Upturn AI SWOT
Energy Transfer LP

Company Overview
History and Background
Energy Transfer LP was founded in 1996. It initially focused on intrastate natural gas pipelines in Texas and has grown through acquisitions and expansions to become one of the largest and most diversified energy infrastructure companies in the United States.
Core Business Areas
- Intrastate Transportation and Storage: Focuses on natural gas gathering, processing, and transportation services within Texas. This segment is the origin of the company.
- Interstate Transportation and Storage: Involves the transportation and storage of natural gas across state lines via a network of pipelines and storage facilities.
- Crude Oil Transportation and Services: Includes crude oil pipelines, storage, and terminal facilities that transport crude oil from production areas to refineries and markets.
- NGL and Refined Products Transportation and Services: Focuses on the transportation, storage, and fractionation of natural gas liquids (NGLs) and refined products like gasoline and diesel.
- Midstream: Gathering, processing, and treating of natural gas and crude oil from production sites.
Leadership and Structure
Energy Transfer LP operates under a master limited partnership (MLP) structure. The leadership team is headed by Marshall S. McCrea III and Thomas K. Petersen as Co-Chief Executive Officers. Kelcy Warren is the Executive Chairman.
Top Products and Market Share
Key Offerings
- Crude Oil Pipelines: Energy Transfer operates extensive crude oil pipelines, transporting oil from production basins to refining centers. The market is competitive with companies like Plains All American Pipeline and Enbridge. Market share data is difficult to pinpoint precisely, but Energy Transfer is a major player. Revenue is substantial; specific revenue from crude oil pipelines are not broken out in filings. Competitors: Plains All American Pipeline, Enbridge, Magellan Midstream Partners.
- Natural Gas Pipelines: Energy Transfer owns and operates a vast network of natural gas pipelines across the US. Competitors include Kinder Morgan and Williams Companies. Similar to crude oil, exact market share data is hard to get, but Energy Transfer is a leader. Revenue from natural gas pipelines is not specifically broken out. Competitors: Kinder Morgan, Williams Companies, TC Energy.
- NGL Transportation & Fractionation: Energy Transfer transports and fractionates NGLs. Competitors: Enterprise Products Partners, ONEOK. Energy Transfer commands a notable market presence in NGL transportation. The revenue details are not explicitly available in their filings. Competitors: Enterprise Products Partners, ONEOK.
Market Dynamics
Industry Overview
The energy infrastructure industry is characterized by high barriers to entry, stable demand, and significant capital investments. Regulatory approvals, environmental concerns, and commodity price volatility influence the industry's dynamics.
Positioning
Energy Transfer LP is a major player in the midstream energy sector. Its competitive advantages include its extensive and diversified asset base, strategic geographic locations, and economies of scale.
Total Addressable Market (TAM)
The global midstream oil and gas market size is estimated at hundreds of billions of dollars. Energy Transfer LP is positioned to capture a significant portion of this market through its diversified assets and strategic expansions.
Upturn SWOT Analysis
Strengths
- Diversified asset base
- Strategic geographic locations
- Economies of scale
- Experienced management team
- Strong cash flow generation
Weaknesses
- High debt levels
- Exposure to commodity price volatility
- Environmental and regulatory risks
- Past project controversies
- MLP Structure Complexity
Opportunities
- Infrastructure development
- Acquisitions of smaller companies
- Expansion into new markets
- Growing demand for natural gas and NGLs
- Renewable energy initiatives (potential hydrogen projects)
Threats
- Increased regulatory scrutiny
- Declining commodity prices
- Competition from other midstream companies
- Shifting energy policies
- Economic downturns
Competitors and Market Share
Key Competitors
- KMI
- EPD
- WMB
Competitive Landscape
Energy Transfer LP has a large, diversified asset base providing an advantage but also faces challenges managing complexity. Competitors like Kinder Morgan and Enterprise Products Partners have strong financial positions and operational expertise.
Major Acquisitions
SemGroup Corporation
- Year: 2019
- Acquisition Price (USD millions): 5000
- Strategic Rationale: Expanded Energy Transfer's crude oil and NGL infrastructure, providing access to key production basins and markets.
Growth Trajectory and Initiatives
Historical Growth: Energy Transfer LP's historical growth has been driven by acquisitions, organic project development, and increasing energy demand.
Future Projections: Analyst estimates suggest continued growth in revenue and earnings driven by infrastructure expansion and growing energy demand. Future growth depends on execution on strategic initiatives.
Recent Initiatives: Recent initiatives include investments in new pipeline projects, expansion of existing infrastructure, and exploration of renewable energy opportunities.
Summary
Energy Transfer LP is a major midstream energy company with a diversified asset base and strong cash flow. Its high debt levels and exposure to commodity price fluctuations present significant risks. Strategic infrastructure development and disciplined financial management are essential for future growth. Energy Transfer needs to be aware of potential impacts of governmental regulations.
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Sources and Disclaimers
Data Sources:
- Company Filings (10-K, 10-Q)
- Investor Presentations
- Analyst Reports
- Industry Publications
Disclaimers:
This analysis is based on publicly available information and is for informational purposes only. It is not financial advice. Investment decisions should be based on individual circumstances and consultation with a qualified financial advisor.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About Energy Transfer LP
Exchange NYSE | Headquaters Dallas, TX, United States | ||
IPO Launch date 2006-02-03 | Co-CEO & Director of LE GP, LLC Mr. Marshall S. McCrea III | ||
Sector Energy | Industry Oil & Gas Midstream | Full time employees 16248 | Website https://energytransfer.com |
Full time employees 16248 | Website https://energytransfer.com |
Energy Transfer LP, together with its subsidiaries, provides energy-related services in the United States. It operates through Intrastate Transportation and Storage; Interstate Transportation and Storage; Midstream; Natural Gas Liquid (NGL) and Refined Products Transportation and Services; Crude Oil Transportation and Services; Investment in Sunoco LP; Investment in USA Compression Partners, LP (USAC); and All Other segments. The company owns and operates natural gas transportation pipelines and storage facilities; and approximately 12,200 miles of intrastate natural gas transportation pipelines and 20,090 miles of interstate natural gas pipelines. It also sells natural gas to electric utilities, independent power plants, local distribution and other marketing companies, and industrial end-users. In addition, the company owns and operates natural gas gathering pipelines, processing plants, and treating and conditioning facilities; and natural gas gathering, oil pipeline, and oil stabilization facilities. Further, it owns 5,700 miles of NGL pipelines; NGL fractionation and storage facilities; and other NGL storage assets and terminals. Additionally, the company provides crude oil transportation, terminalling, acquisition, and marketing activities; owns and operates approximately 17,950 miles of crude oil trunk and gathering pipelines; and sells and distributes motor fuels and other petroleum products under the Sunoco and EcoMaxx brands. It also offers natural gas compression; wholesale power trading; and carbon dioxide and hydrogen sulfide removal services, as well as manages coal and natural resources properties; sells standing timber; leases coal-related infrastructure facilities; and collects oil and gas royalties. The company was formerly known as Energy Transfer Equity, L.P. and changed its name to Energy Transfer LP in October 2018. Energy Transfer LP was founded in 1996 and is headquartered in Dallas, Texas.
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