Skip to Content
Morningstar
Get 14 Days Free

Energy Transfer LP ET

Morningstar Rating
Rating as of

Morningstar’s Analysis

Valuation
Currency in USD
Is it the right time to buy or sell?
Find out with Morningstar Premium
Is it the right time to buy or sell?
Find out with Morningstar Premium

1-Star Price

PREMIUM

5-Star Price

PREMIUM

Economic Moat

PREMIUM

Capital Allocation

PREMIUM

Twists and Turns Continue for Energy Transfer's Dakota Access Pipeline

Travis Miller Strategist

Analyst Note

| Travis Miller |

We are reaffirming our $18.50 per unit fair value estimate for Energy Transfer after a series of developments this week in the Dakota Access Pipeline (DAPL) saga. We are reaffirming our no-moat and stable moat trend ratings.

Read Full Analysis

Company Profile

Business Description

Energy Transfer owns a large platform of crude oil, natural gas, and natural gas liquid assets primarily in Texas and the U.S. midcontinent region. Its pipeline network transports about 22 trillion British thermal unit per day of natural gas and 4.3 million barrels per day of crude oil. It also has gathering and processing facilities, one of the largest fractionation facilities in the U.S., and fuel distribution. Energy Transfer also owns the Lake Charles gas liquefaction facility. It combined its publicly traded limited and general partnerships in October 2018.

Contact
8111 Westchester Drive, Suite 600
Dallas, TX, 75225
T +1 214 981-0700
Sector Energy
Industry Oil & Gas Midstream
Most Recent Earnings Jun 30, 2021
Fiscal Year End Dec 31, 2020
Stock Type Hard Assets
Employees 11,421

Related

Stock Strategist Industry Reports
Finding Winners in the Hydrogen Hype
We focus on quality companies in an environment where investors are engaging in rank speculation.
Stephen Ellis
Stock Strategist Industry Reports
Why Is U.S. Midstream Still Undervalued?
It's been left behind in the runup in energy prices, and here's why.
Stephen Ellis
Stock Strategist Industry Reports
Utilities Have Rarely Been This Attractive
We see the best values in high-quality gas utilities.
Travis Miller
Market Update
Looking Under the Hood at Robinhood
Morningstar’s Global Risk Model reveals how some of the app’s most popular stocks stack up on 11 different measures of equity-related risk.
Amy C. Arnott
Stock Strategist Industry Reports
U.S. Oil and Gas Doesn't Need a Trump Win to Thrive
Weaning America off fossil fuels will take decades, even if Democrats sweep Congress in November.
Dave Meats
Stock Strategist Industry Reports
Epic Oil Crash Sets Up Brutal Downturn for Energy Sector
But recovery is inevitable, and stocks look very cheap--just watch out for bankruptcy risk.
Preston Caldwell
Stock Strategist Industry Reports
Midstream Liquidity Concerns Overblown
Operational results will worsen, but most companies should muddle through.
Stephen Ellis
Stock Strategist Industry Reports
ESG Implications for Midstream Oil and Gas
Environmental issues take center stage.
Stephen Ellis
Stock Analyst Update
ESG Implications for the Midstream Oil and Gas Industry
Cheniere and Plains All American Pipeline rank favorably on sustainabilty issues and are attractively priced.
Stephen Ellis
Stock Strategist Industry Reports
Executive Orders More Symbolic Than Material for Pipelines
We're not changing our outlook for our midstream coverage.
Stephen Ellis
Premium Article
25 Cheap Stocks
These low- and medium-uncertainty stocks are trading at the largest discounts to our fair value estimates.
Susan Dziubinski
Quarter-End Insights
Energy: Looming U.S. Shale Supply Should Temper Optimism
Huge output decline boosts near-term fundamentals, but lofty prices likely to trigger dangerous shale growth later.
Joe Gemino
US Videos
Big Changes for MLPs, but Some Values Remain
Travis Miller explains the impact of regulatory changes on midstream energy firms and who is best positioned today.
Travis Miller
Stock Analyst Update
Policy Changes Won't Dent Midstream Moats
We may modestly decrease our fair value estimates after proposed policy changes, but we think the market is overly punishing high-quality midstream energy firms.
Stephen Ellis
US Videos
Peters: More Pain to Come for MLPs
Kinder's 75% dividend cut is not going to be the last in the industry, says Morningstar's Josh Peters, but a small number of high-quality MLPs are worth nibbling at today.
Josh Peters, CFA
US Videos
Friday Five: Market Pain, Little Gain for Bargain-Hunters
The third quarter's sell-off didn't create countless bargains, but we do see select opportunities in health care and elsewhere. Plus, sizing up the iPhone launch, and more.
Jason Stipp
Quarter-End Insights
Morningstar's Take on the Third Quarter
China fears and Fed uncertainty sent markets lower in the third quarter, but stocks still aren't cheap.
Jeremy Glaser
US Videos
Coffina: Expect Less From Stocks
Starting from current valuations, stocks simply aren't capable of delivering double-digit annualized total returns, says Morningstar's Matt Coffina.
Matthew Coffina
US Videos
Oil's Slide Is Causing Slick Investing Conditions
The sharp decline in oil prices reinforces the importance of purchasing stocks at a reasonable margin of safety, says Morningstar's Matt Coffina.
Matthew Coffina
US Videos
Reasons to Be Cautious on Midstream MLPs
After his recent sale of Energy Transfer Equity, StockInvestor editor Matt Coffina says investors should consider more conservative MLPs whose current valuations are less dependent on future growth.
Matthew Coffina