Energy Transfer LP


SKU: ET Category:


This is our first report on Energy Transfer LP had a solid Q2 2023, characterized by robust performance in its base business, delivering record volumes in multiple segments, including intrastate and midstream operations. Despite impressive volume growth, earnings were impacted by significantly lower natural gas and NGL prices. Distributable cash flow was reported, focusing on increased cash distribution and growth opportunities. The company is actively pursuing the Lake Charles LNG project and expanding NGL export capacity, positioning itself for future growth. Energy Transfer remains optimistic about its industry’s future and achieving distribution growth targets while ensuring financial stability. Furthermore, Energy Transfer is actively exploring carbon capture and storage opportunities, collaborating with CapturePoint and Oxy on environmental initiatives. They’re also discussing potential ammonia facilities along the Gulf Coast, leveraging their existing infrastructure. The company’s organic growth projects are progressing well, with several expected to contribute to cash flow later this year, providing solid returns. Their strategic outlook for 2023 emphasizes stable cash flows and a robust financial position, underpinning their confidence in the long-term prospects of the industry and their place within it. Energy Transfer continues to prioritize the equilibrium between distribution growth, leverage reduction, and maintaining robust free cash flow for ongoing expansion.

Our Report Structure:

⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
⦁ Disclosures

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