What's Going On With Energy Transfer Stock Tuesday?
Portfolio Pulse from Dylan Berman
Energy Transfer (NYSE:ET) announced the acquisition of WTG Midstream for $3.25 billion, which includes $2.45 billion in cash and 50.8 million newly issued common units. The acquisition will enhance Energy Transfer's access to natural gas supplies and strengthen its operations in the Permian Basin. The transaction is expected to close in Q3 2024.
May 28, 2024 | 2:37 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Energy Transfer announced a $3.25 billion acquisition of WTG Midstream, which will enhance its natural gas supply and strengthen its Permian Basin operations. The stock is down 0.32% following the news.
The acquisition is a strategic move to enhance Energy Transfer's access to natural gas supplies and strengthen its operations in the Permian Basin. Despite the initial stock dip, the long-term benefits could positively impact the company's performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100