Energy Transfer LP price target raised to $23 from $21 at Stifel

Stifel raised the firm’s price target on Energy Transfer LP (ET) to $23 from $21 and keeps a Buy rating on the shares. The company posted Q4 EBITDA of $3.88B, compared to the firm’s $3.99B estimate and consensus of $3.98B, notes the analyst, who also points out that Energy Transfer guided to $5B of 2025 growth capital expenditures. This outlook “highlights the opportunity set across ET’s footprint and possibly pushes out other forms of capital returns due to project timing,” the analyst tells investors. The company’s first natural gas supply contract with Cloudburst, supplying a Texas data center in what the firm views as midstream’s first data center related agreement, will be “very well received by investors,” the analyst added.