03:08 PM EDT, 07/10/2024 (MT Newswires) -- Energy Transfer's ( ET ) Q2 earnings call will focus on 2024 guidance, including the potential closing of the WTG Midstream acquisition and base business growth, UBS Securities said Wednesday in a report.

Other topics include growth projects, capital allocation strategies and operational integration plans, UBS said. Energy Transfer's ( ET ) Q2 earnings release is scheduled for Aug. 7.

On return on capital opportunities, "investors will look for additional color on management's strategy on buyback versus dividend raises," UBS said.

UBS boosted its Q2 estimates on Energy Transfer's ( ET ) earnings before interest, taxes, depreciation, and amortization. Almost 90% of is fee-based, and earnings aren't roiled by commodity volatility, UBS said.

The company has a "very well-balanced portfolio" and "best in class assets," UBS said.

UBS reiterated its buy rating on Energy Transfer ( ET ) and kept the stock price target at $24.

Energy Transfer's ( ET ) shares rose 1% in recent trading Wednesday.

Price: 16.28, Change: +0.16, Percent Change: +0.99