Energy Transfer Breaks The Record For Annual Profit

Energy Transfer, a provider of natural gas to electric utilities, announces an annual profit in February of this year, which broke the company’s record. This is all due to the fact that at the beginning of last year the company was selling gas at skyrocketing prices during the freeze in Texas. In addition, the Texas-based company announced that shareholders will soon receive money back in the form of dividends and buybacks because it reduced debt after a decade of expansion.

Energy Transfer

Energy Transfer, a company that provides North America with approximately 183,000 kilometers of pipelines, is trading at a discount compared to its competitors. The company’s value is almost 700% more than the projected profit excluding taxes and interest. According to Bloomberg statistics, analysts expect Energy Transfer’s share price to rise by 55 percent from present levels, the most increase in the business. The stock has up approximately 13% this year, following the Standard & Poor’s 500 Energy Index’s increase of over 17%.