Energy Transfer: The Moat Is Finally Writing Checks

Impact · against what's priced in

Energy Transfer's Q2 results provide positive confirmation of growth in EBITDA and distributable cash flow, driven by new commercial services and higher NGL volumes. While the results are strong, they largely align with the expectations for the company's transition from capital expenditure to recurring revenue.

ET+0.40

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In context

The shift of major infrastructure projects into commercial service via long-term contracts converts recent CapEx into visible, recurring cash flow, supporting a higher distributions base.

Read from the article alone

• earnings
• cash flow
• ET
• distrubutions
• ebitda
• energy infrastructure
• midstream
• ngl

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