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Momentum Stock Watch: Energy Transfer LP (ET)

-- Monday, November 4, 2019, 10:05 --

Company Profile:

Energy Transfer LP provides energy-related services in the United States and China. The company owns and operates approximately 9,400 miles of natural gas transportation pipelines and three natural gas storage facilities in Texas; and approximately 12,200 miles of interstate natural gas pipelines. It sells natural gas to electric utilities, independent power plants, local distribution companies, industrial end-users, and other marketing companies. 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 2002 and is based in Dallas, Texas. Energy Transfer LP operates as a subsidiary of LE GP, LLC.

Recent News:

The company announced a quarterly cash distribution of $0.305 per ET common unit ($1.22 on an annualized basis) for the third quarter ended September 30, 2019 and will be paid on November 19, 2019 to unitholders of record as of the close of business on November 5, 2019.

On September 16, 2019, the company entered into a definitive merger agreement whereby Energy Transfer will acquire SemGroup Corporation (SEMG) (“SemGroup”) in a unit and cash transaction valued at $17 per share, or a total consideration including the assumption of debt of approximately $5 billion.

Fundamental Analysis:

Ninestocks analyzes several different financial aspects: Growth, Profitability, solvency and efficiency.

Growth – Measures the growth of both the company’s income statement and cash flow.

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Profitability – Measures the historical price movement of the stock.

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Solvency – Measures the solvency of the company based on several ratios.

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Efficiency – Measures the strength and historic growth of a company’s return on invested capital.

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Conclusion:

ET’s strengths can be seen in its better profitability compared with its peers. Its revenue has increased over recently several years. Technical indicators signal the bullish signs, as there is a bullish crossover in MACD and Stochastic oscillator and the RSI stands at 54.49 with positive bias. We rate Energy Transfer LP (ET) a STRONG BUY.

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