NYSE:ETOil and Gas
Energy Transfer (ET) Stock Ignores Profit Surge As Leverage Questions Persist
Energy Transfer’s stock barely budged today, inching up about 0.2% despite earnings that landed more like a punch than a shrug. Traders treated the quarter as business as usual. The financials told a very different story.
The real headline was profit power. Basic earnings per share for the quarter came in at about US$0.59, supported by roughly US$5.1b of adjusted earnings before interest, tax, depreciation and amortization. Management also lifted full year adjusted EBITDA guidance into the...