Energy Transfer $ET stock formed a downtrend channelUptrend and downtrend channel patterns are technical analysis tools used to identify potential future price movements. They are formed by two parallel lines on a chart and can be u... breakout on March 7, 2023. Horizontal resistanceA horizontal resistance chart pattern is a type of chart which shows how price movement follows a certain pattern when price reaches a certain level. The pattern forms a resistance... sits well above at $13.52 to $13.67.
Energy Transfer LP provides energy-related services. The company owns and operates approximately 11,600 miles of natural gas transportation pipeline, and three natural gas storage facilities in Texas and two natural gas storage facilities located in the state of Texas and Oklahoma; and 19,945 miles of interstate natural gas pipeline. It also sells natural gas to electric utilities, independent power plants, local distribution and other marketing companies, and industrial end-users.
Due to the massive fractionation and transportation complexes it has built, the company has grown to become one of the largest natural gas operators in the nation. The volume of the company’s Mont Belvieu fractionation has surpassed 1 million barrels per day. The business put the Gulf Run pipeline into service and continued to break records in every area of its operations. The company’s free cash flowThe cash flow statement provides a detailed overview of the cash inflows and outflows of a company over a specified period of time. It includes cash received from operations, inves... in 2022 was $7.4 billion, including $4.4 billion after distributions. The company also pays out a dividend of 9.2%.
