Energy Transfer: Unit Price Should Rise Along With The Distribution

Summary

  • The distribution increase is the first step in returning to the pre-pandemic rate.
  • The company has reined in capex growth from prior year excesses.
  • While the company continues to pursue M&A deals, they are now much smaller in scope.

Several huge tanks for storing fuel.

CHUNYIP WONG/iStock via Getty Images

Thesis

While the unit price performance of Energy Transfer LP (NYSE:ET) has been quite disappointing for investors over the past 5-6 years, things may be turning around. The more restrained capex spending of recent years along

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