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Can Energy Transfer Equity Continue Its Strong Rally in 2017?

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Dec. 29 2016, Published 3:20 p.m. ET

Energy Transfer Equity stock performance

Energy Transfer Equity (ETE), the pure play GP (general partner) MLP[1. master limited partnership] of Energy Transfer Group, has risen 42.6% year-to-date despite touching its multiyear lows in the beginning of 2016.

ETE has risen over 350% since its February lows and 36.0% since the merger termination announcement with Williams Companies (WMB) at the end of June 2016.

ETE directly or indirectly owns the GP of three other publicly traded MLPs of Energy Transfer Group—Energy Transfer Partners (ETP), Sunoco Logistics Partners (SXL), and Sunoco LP (SUN). SXL and SUN have lost 4.3% and 31.9% while ETP has gained 7.9% in 2016. The Alerian MLP ETF (AMLP), which comprises 26 midstream energy MLPs, has risen 5.6% in 2016.

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Can ETE’s rally continue in 2017?

Energy Transfer Equity (ETE) and its subsidiaries are still trading below the levels seen prior to the rout in energy prices. ETE is currently trading ~75% below its all-time high of $34, which it saw in April 2015.

Currently, Energy Transfer Equity is trading 18.3% above its 50-day moving average and 34.5% above its 200-day moving average. Plus, its 50-day moving average surpassed the 200-day moving average in July 2016, indicating a bullish trend in ETE stock.

Series overview

In this series, we’ll look at the factors that could drive Energy Transfer Equity’s stock performance in 2017. We’ll analyze ETE’s distributions, growth opportunities, and balance position.

Following an analysis of ETE’s financial statements, we’ll look into ETE’s valuations, key performance indicators, and analyst projections. First, let’s first see what ETE’s moving average indicates.

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