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ETE Has Risen 3.4% in the Last Month: Will It Continue to Rise?

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ETE Has Risen 3.4% in the Last Month: Will It Continue to Rise? PART 1 OF 5

ETE Has Risen 3.4% in the Last Month: Will It Continue to Rise?

Energy Transfer Equity’s recent performance

Energy Transfer Equity (ETE) has risen 3.4% over the last month, ending September 27. At the same time, the Alerian MLP ETF (AMLP), which comprises 25 energy MLPs, has risen 3.0%. ETE’s recent gains could mainly be attributed to the rally in crude oil prices. However, ETE hasn’t risen as much as the rise in crude oil. Crude oil has risen 12% over the past month. ETE’s lower gains could be due to general pessimism in the midstream sector.

ETE Has Risen 3.4% in the Last Month: Will It Continue to Rise?

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US crude oil continues to trade over $50 per barrel, driven by a rise in crude oil demand and a decline in crude oil inventories. For a recent update on crude oil prices, see Can the Oil Bull Market Last?

Energy Transfer Equity’s YTD performance

ETE is still trading in negative territory despite recent gains. It has fallen 9.5% since the beginning of this year. In comparison, ETE’s MLP peers Plains GP Holdings (PAGP) and Western Gas Equity Partners (WGP) have fallen 35.9% and 3.3%, respectively. ETE’s C-corp peers ONEOK (OKE) and Williams (WMB) have fallen 3.2% and 3.7% in 2017, respectively. AMLP has fallen 10.8% in 2017. ETE is outperforming AMLP by ~130 basis points. For a comparative analysis of ETE, PAGP, WGP, and WMB see Behind 4 Key MLP General Partners.

Series overview

In this series, we’ll see whether ETE can gain upward momentum after its recent gains. We’ll look into ETE’s technical indicators and price forecast. Next, we’ll look into ETE’s valuation and analyst recommendations.

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