Energy Transfer (ET) has dropped after its record high in January, but the fundamentals still look strong. Trading at a low valuation with a forward P/E of 10.8 and a price-to-sales ratio under 1, it pays out an 8% distribution yield that's well-covered by cash flow, with plans to grow payouts 3-5% annually. Despite recent acquisitions, leverage is in check. ET is expanding infrastructure, signing multiyear gas deals with companies like Oracle and Fermi America, and continues to benefit from steady cash flows from its pipeline and storage network. Analysts are bullish, with 17 out of 19 rating the stock a buy and a 12-month price target pointing to a potential 32% upside.