- Energy Transfer (ET +2.4%) is on the rise after Evercore ISI upgrades shares to Outperform from In-Line with a $14 price target, with potential upside to $18, as "free cash flow, deleveraging and valuation all provide the foundation for a strong investment case."
- Energy Transfer's business is large and diverse enough to more than effectively deal with production and commodity price volatility as evidenced by the resiliency of results in 2020, Evercore's Todd Firestone says.
- "Headwinds have dissipated, with concerns over DAPL, M&A and governance now much less of a question for investors," Firestone writes.
- Energy Transfer's strategic shift last summer from a focus on growth to a focus on sustainability with dividend, capex and cost cuts all point to a model set to generate positive returns for years to come, according to the analyst.
- North Dakota officials recently said the state could see 400K bbl/day of crude oil production temporarily wiped out if Energy Transfer's Dakota Access Pipeline is shut.
Energy Transfer upped at Evercore as best risk/reward profile in midstream
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| Symbol | Last Price | % Chg |
|---|---|---|
| ET | - | - |
| Energy Transfer LP Common Units | ||