RBC Capital analyst Elvira Scotto maintains $Energy Transfer (ET.US)$ with a buy rating, and adjusts the target price from $19 to $20.
According to TipRanks data, the analyst has a success rate of 69.2% and a total average return of 21.8% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Energy Transfer (ET.US)$'s main analysts recently are as follows:
Even amid a potential decline in the oil market, Energy Transfer LP is noted for its remarkably low valuation relative to the possible cash distributions that could be made if capital expenditures and acquisitions were to decelerate modestly.
The firm is revising its projections to account for changes in commodity prices, consequences from hurricanes, and a decline in dry gas production. It is anticipated that the majority of companies will uphold their forecasts for 2024. In terms of the company in question, there is optimism regarding the company's robust long-term growth prospects in the Permian, and it is believed that the prospects related to datacenter/artificial intelligence are yet to be reflected in the unit's valuation.
Note:
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Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
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