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Energy Transfer (ET) Stock Presents Buying Opportunity Below $20 Amid Gas Infrastructure Expansion
Energy Transfer (ET) Stock Presents Buying Opportunity Below $20 Amid Gas Infrastructure Expansion
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BTCCSquare news:
Energy Transfer's stock lingers just below the $20 mark, presenting a potential entry point for investors as the company commits $5.5 billion to new gas infrastructure projects in 2024. The U.S. energy sector's rapid growth, particularly in LNG, has spotlighted firms like ET, with analysts forecasting distribution growth of 3%-5% as part of long-term income stability goals.
UBS analyst Manav Gupta reinforces optimism, maintaining a Buy rating with a $22 price target. Trading at $17.95—midway through its 52-week range and above its 200-day moving average—ET's bullish momentum is underscored by recent incremental gains and shifting sentiment among traders and retail forums.
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