{"id":306662,"date":"2025-07-15T16:02:51","date_gmt":"2025-07-15T16:02:51","guid":{"rendered":"https:\/\/pocketoption.com\/blog\/news-events\/data\/et-stock-buy-or-sell-2\/"},"modified":"2025-07-15T16:02:51","modified_gmt":"2025-07-15T16:02:51","slug":"et-stock-buy-or-sell","status":"publish","type":"post","link":"https:\/\/pocketoption.com\/blog\/vt\/interesting\/trading-strategies\/et-stock-buy-or-sell\/","title":{"rendered":"Mua ho\u1eb7c B\u00e1n C\u1ed5 phi\u1ebfu ET: Ph\u00e2n T\u00edch Chuy\u00ean Gia cho Quy\u1ebft \u0110\u1ecbnh \u0110\u1ea7u T\u01b0 Chi\u1ebfn L\u01b0\u1ee3c"},"content":{"rendered":"<div id=\"root\"><div id=\"wrap-img-root\"><\/div><\/div>","protected":false},"excerpt":{"rendered":"","protected":false},"author":5,"featured_media":248485,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[22],"tags":[45,44],"class_list":["post-306662","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-trading-strategies","tag-stock","tag-strategy"],"acf":{"h1":"Ph\u00e2n t\u00edch Mua ho\u1eb7c B\u00e1n C\u1ed5 phi\u1ebfu ET","h1_source":{"label":"H1","type":"text","formatted_value":"Ph\u00e2n t\u00edch Mua ho\u1eb7c B\u00e1n C\u1ed5 phi\u1ebfu ET"},"description":"Ph\u00e2n t\u00edch c\u00e1c y\u1ebfu t\u1ed1 mua ho\u1eb7c b\u00e1n c\u1ed5 phi\u1ebfu ET? Kh\u00e1m ph\u00e1 c\u00e1c ch\u1ec9 s\u1ed1 \u0111\u1ecbnh gi\u00e1 c\u1ee5 th\u1ec3, t\u00edn hi\u1ec7u mua\/b\u00e1n quan tr\u1ecdng v\u00e0 th\u00f4ng tin \u0111\u1ea7u t\u01b0 c\u00f3 th\u1ec3 h\u00e0nh \u0111\u1ed9ng v\u1edbi ph\u00e2n t\u00edch c\u1ed5 phi\u1ebfu ET to\u00e0n di\u1ec7n c\u1ee7a Pocket Option.","description_source":{"label":"Description","type":"textarea","formatted_value":"Ph\u00e2n t\u00edch c\u00e1c y\u1ebfu t\u1ed1 mua ho\u1eb7c b\u00e1n c\u1ed5 phi\u1ebfu ET? Kh\u00e1m ph\u00e1 c\u00e1c ch\u1ec9 s\u1ed1 \u0111\u1ecbnh gi\u00e1 c\u1ee5 th\u1ec3, t\u00edn hi\u1ec7u mua\/b\u00e1n quan tr\u1ecdng v\u00e0 th\u00f4ng tin \u0111\u1ea7u t\u01b0 c\u00f3 th\u1ec3 h\u00e0nh \u0111\u1ed9ng v\u1edbi ph\u00e2n t\u00edch c\u1ed5 phi\u1ebfu ET to\u00e0n di\u1ec7n c\u1ee7a Pocket Option."},"intro":"Vi\u1ec7c x\u00e1c \u0111\u1ecbnh n\u00ean mua hay b\u00e1n c\u1ed5 phi\u1ebfu ET \u0111\u00f2i h\u1ecfi ph\u1ea3i ph\u00e2n t\u00edch k\u1ef9 l\u01b0\u1ee1ng c\u00e1c ch\u1ec9 s\u1ed1 t\u00e0i ch\u00ednh c\u1ee7a Energy Transfer, v\u1ecb th\u1ebf th\u1ecb tr\u01b0\u1eddng v\u00e0 xu h\u01b0\u1edbng ng\u00e0nh. Ph\u00e2n t\u00edch n\u00e0y xem x\u00e9t c\u00e1c ch\u1ec9 s\u1ed1 \u0111\u1ecbnh gi\u00e1 hi\u1ec7n t\u1ea1i c\u1ee7a ET, c\u00e1c ch\u1ec9 s\u1ed1 hi\u1ec7u su\u1ea5t qu\u00fd 1 n\u0103m 2024, c\u00e1c m\u00f4 h\u00ecnh gi\u00e1 k\u1ef9 thu\u1eadt v\u00e0 c\u00e1c r\u1ee7i ro c\u1ee5 th\u1ec3 c\u1ee7a ng\u00e0nh \u0111\u1ec3 gi\u00fap nh\u00e0 \u0111\u1ea7u t\u01b0 \u0111\u01b0a ra quy\u1ebft \u0111\u1ecbnh c\u1ed5 phi\u1ebfu ET d\u1ef1a tr\u00ean d\u1eef li\u1ec7u trong th\u1ecb tr\u01b0\u1eddng n\u0103ng l\u01b0\u1ee3ng \u0111\u1ea7y bi\u1ebfn \u0111\u1ed9ng hi\u1ec7n nay.","intro_source":{"label":"Intro","type":"text","formatted_value":"Vi\u1ec7c x\u00e1c \u0111\u1ecbnh n\u00ean mua hay b\u00e1n c\u1ed5 phi\u1ebfu ET \u0111\u00f2i h\u1ecfi ph\u1ea3i ph\u00e2n t\u00edch k\u1ef9 l\u01b0\u1ee1ng c\u00e1c ch\u1ec9 s\u1ed1 t\u00e0i ch\u00ednh c\u1ee7a Energy Transfer, v\u1ecb th\u1ebf th\u1ecb tr\u01b0\u1eddng v\u00e0 xu h\u01b0\u1edbng ng\u00e0nh. Ph\u00e2n t\u00edch n\u00e0y xem x\u00e9t c\u00e1c ch\u1ec9 s\u1ed1 \u0111\u1ecbnh gi\u00e1 hi\u1ec7n t\u1ea1i c\u1ee7a ET, c\u00e1c ch\u1ec9 s\u1ed1 hi\u1ec7u su\u1ea5t qu\u00fd 1 n\u0103m 2024, c\u00e1c m\u00f4 h\u00ecnh gi\u00e1 k\u1ef9 thu\u1eadt v\u00e0 c\u00e1c r\u1ee7i ro c\u1ee5 th\u1ec3 c\u1ee7a ng\u00e0nh \u0111\u1ec3 gi\u00fap nh\u00e0 \u0111\u1ea7u t\u01b0 \u0111\u01b0a ra quy\u1ebft \u0111\u1ecbnh c\u1ed5 phi\u1ebfu ET d\u1ef1a tr\u00ean d\u1eef li\u1ec7u trong th\u1ecb tr\u01b0\u1eddng n\u0103ng l\u01b0\u1ee3ng \u0111\u1ea7y bi\u1ebfn \u0111\u1ed9ng hi\u1ec7n nay."},"body_html":"<div class='po-container po-container_width_article-sm'><h2 class='po-article-page__title'>Hi\u1ec3u V\u1ecb Th\u1ebf Th\u1ecb Tr\u01b0\u1eddng C\u1ed5 Phi\u1ebfu ET<\/h2><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Khi \u0111\u00e1nh gi\u00e1 c\u00e2u h\u1ecfi \"\"mua hay b\u00e1n c\u1ed5 phi\u1ebfu ET\"\", c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 ph\u1ea3i hi\u1ec3u r\u00f5 nh\u1eefng l\u1ee3i th\u1ebf th\u1ecb tr\u01b0\u1eddng c\u1ee5 th\u1ec3 c\u1ee7a Energy Transfer. V\u1edbi h\u01a1n 125,000 d\u1eb7m c\u01a1 s\u1edf h\u1ea1 t\u1ea7ng \u0111\u01b0\u1eddng \u1ed1ng tr\u1ea3i d\u00e0i qua 44 ti\u1ec3u bang, ET ki\u1ec3m so\u00e1t c\u00e1c k\u00eanh v\u1eadn chuy\u1ec3n n\u0103ng l\u01b0\u1ee3ng quan tr\u1ecdng t\u1ea1o ra 78.6 t\u1ef7 \u0111\u00f4 la doanh thu h\u00e0ng n\u0103m (s\u1ed1 li\u1ec7u n\u0103m 2023).<\/p><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Ph\u00e2n t\u00edch c\u1ee7a Pocket Option cho th\u1ea5y m\u00f4 h\u00ecnh kinh doanh c\u1ee7a ET t\u1eadp trung v\u00e0o c\u00e1c h\u1ee3p \u0111\u1ed3ng d\u1ef1a tr\u00ean ph\u00ed cung c\u1ea5p 85-90% doanh thu, b\u1ea3o v\u1ec7 d\u00f2ng ti\u1ec1n kh\u1ecfi bi\u1ebfn \u0111\u1ed9ng gi\u00e1 h\u00e0ng h\u00f3a ng\u1eafn h\u1ea1n. C\u1ea5u tr\u00fac h\u1ee3p \u0111\u1ed3ng n\u00e0y ph\u00e2n bi\u1ec7t ET v\u1edbi c\u00e1c c\u00f4ng ty th\u0103m d\u00f2 tr\u1ea3i qua s\u1ef1 ti\u1ebfp x\u00fac tr\u1ef1c ti\u1ebfp v\u1edbi bi\u1ebfn \u0111\u1ed9ng gi\u00e1 n\u0103ng l\u01b0\u1ee3ng.<\/p><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Quy\u1ebft \u0111\u1ecbnh \"\"mua hay b\u00e1n c\u1ed5 phi\u1ebfu et\"\" ph\u1ee5 thu\u1ed9c v\u00e0o b\u1ed1n ch\u1ec9 s\u1ed1 \u0111\u1ecbnh l\u01b0\u1ee3ng c\u00f3 t\u00e1c \u0111\u1ed9ng tr\u1ef1c ti\u1ebfp \u0111\u1ebfn hi\u1ec7u su\u1ea5t:<\/p><\/div><div class='po-container po-container_width_article po-article-page__table'><div class='po-table'><table><thead><tr><th>Ch\u1ec9 S\u1ed1 Ch\u00ednh<\/th><th>Gi\u00e1 Tr\u1ecb Hi\u1ec7n T\u1ea1i (Q1 2024)<\/th><th>T\u00e1c \u0110\u1ed9ng \u0110\u1ebfn C\u1ed5 Phi\u1ebfu ET<\/th><\/tr><\/thead><tbody><tr><td>D\u00f2ng Ti\u1ec1n C\u00f3 Th\u1ec3 Ph\u00e2n Ph\u1ed1i (DCF)<\/td><td>2.1 t\u1ef7 \u0111\u00f4 la h\u00e0ng qu\u00fd<\/td><td>T\u0103ng tr\u01b0\u1edfng 14.2% so v\u1edbi c\u00f9ng k\u1ef3 n\u0103m tr\u01b0\u1edbc<\/td><\/tr><tr><td>T\u1ef7 L\u1ec7 B\u1ea3o Hi\u1ec3m Ph\u00e2n Ph\u1ed1i<\/td><td>1.7x<\/td><td>Cao h\u01a1n nhi\u1ec1u so v\u1edbi ng\u01b0\u1ee1ng b\u1ec1n v\u1eefng 1.2x<\/td><\/tr><tr><td>T\u1ef7 L\u1ec7 N\u1ee3 tr\u00ean EBITDA<\/td><td>4.3x<\/td><td>\u0110ang ti\u1ebfn g\u1ea7n \u0111\u1ebfn m\u1ee5c ti\u00eau 4.0x<\/td><\/tr><tr><td>D\u1ef1 Tr\u1eef D\u1ef1 \u00c1n T\u0103ng Tr\u01b0\u1edfng<\/td><td>3.25 t\u1ef7 \u0111\u00f4 la<\/td><td>D\u1ef1 ki\u1ebfn \u0111\u00f3ng g\u00f3p 11% EBITDA v\u00e0o n\u0103m 2026<\/td><\/tr><\/tbody><\/table><\/div><\/div><div class='po-container po-container_width_article-sm'><h2 class='po-article-page__title'>Ph\u00e2n T\u00edch C\u01a1 B\u1ea3n: ET C\u00f3 Ph\u1ea3i L\u00e0 C\u1ed5 Phi\u1ebfu T\u1ed1t \u0110\u1ec3 Mua?<\/h2><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Khi c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 h\u1ecfi \"\"ET c\u00f3 ph\u1ea3i l\u00e0 c\u1ed5 phi\u1ebfu t\u1ed1t \u0111\u1ec3 mua,\"\" c\u00e2u tr\u1ea3 l\u1eddi n\u1eb1m \u1edf c\u00e1c ch\u1ec9 s\u1ed1 \u0111\u1ecbnh gi\u00e1 c\u1ee5 th\u1ec3 so v\u1edbi c\u1ea3 trung b\u00ecnh l\u1ecbch s\u1eed v\u00e0 c\u00e1c \u0111\u1ed1i th\u1ee7 trong ng\u00e0nh. Hi\u1ec7n t\u1ea1i, ET giao d\u1ecbch \u1edf m\u1ee9c 8.7x EV\/EBITDA d\u1ef1 ki\u1ebfn so v\u1edbi m\u1ee9c trung b\u00ecnh c\u1ee7a ng\u00e0nh trung l\u01b0u l\u00e0 9.8x.<\/p><\/div><div class='po-container po-container_width_article-sm'><h3 class='po-article-page__title'>Ch\u1ec9 S\u1ed1 \u0110\u1ecbnh Gi\u00e1 Cho C\u1ed5 Phi\u1ebfu ET<\/h3><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>C\u1ed5 phi\u1ebfu ET c\u00f3 nh\u1eefng l\u1ee3i th\u1ebf \u0111\u1ecbnh gi\u00e1 c\u1ee5 th\u1ec3 so v\u1edbi c\u00e1c \u0111\u1ed1i th\u1ee7 trong ng\u00e0nh ti\u1ec7n \u00edch v\u00e0 c\u00e1c kho\u1ea3n \u0111\u1ea7u t\u01b0 n\u0103ng l\u01b0\u1ee3ng r\u1ed9ng h\u01a1n:<\/p><\/div><div class='po-container po-container_width_article-sm article-content po-article-page__text'><ul class='po-article-page-list'><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>T\u1ef7 l\u1ec7 P\/E l\u00e0 10.2x so v\u1edbi trung b\u00ecnh ng\u00e0nh ti\u1ec7n \u00edch l\u00e0 17.8x<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>EV\/EBITDA l\u00e0 8.7x so v\u1edbi trung b\u00ecnh c\u1ee7a \u0111\u1ed1i th\u1ee7 l\u00e0 9.8x<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>L\u1ee3i su\u1ea5t ph\u00e2n ph\u1ed1i l\u00e0 8.4% so v\u1edbi trung b\u00ecnh ng\u00e0nh l\u00e0 6.7%<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Gi\u00e1 tr\u00ean DCF l\u00e0 5.1x so v\u1edbi trung b\u00ecnh l\u1ecbch s\u1eed l\u00e0 7.3x<\/li><\/ul><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>M\u1ed9t \u0111\u00e1nh gi\u00e1 to\u00e0n di\u1ec7n v\u1ec1 \"\"c\u00f3 n\u00ean mua c\u1ed5 phi\u1ebfu et\"\" ph\u1ea3i th\u1eeba nh\u1eadn r\u1eb1ng ET giao d\u1ecbch v\u1edbi m\u1ee9c chi\u1ebft kh\u1ea5u 26% so v\u1edbi EV\/EBITDA trung b\u00ecnh 5 n\u0103m c\u1ee7a n\u00f3 m\u1eb7c d\u00f9 \u0111\u1ea1t \u0111\u01b0\u1ee3c EBITDA k\u1ef7 l\u1ee5c v\u00e0o n\u0103m 2023. Kho\u1ea3ng c\u00e1ch \u0111\u1ecbnh gi\u00e1 n\u00e0y v\u1eabn t\u1ed3n t\u1ea1i m\u1eb7c d\u00f9 ba qu\u00fd li\u00ean ti\u1ebfp v\u01b0\u1ee3t qua k\u1ef3 v\u1ecdng thu nh\u1eadp trung b\u00ecnh 8.4% so v\u1edbi d\u1ef1 \u0111o\u00e1n c\u1ee7a c\u00e1c nh\u00e0 ph\u00e2n t\u00edch.<\/p><\/div><div class='po-container po-container_width_article-sm'><h3 class='po-article-page__title'>Qu\u1ef9 \u0110\u1ea1o T\u0103ng Tr\u01b0\u1edfng Ph\u00e2n Ph\u1ed1i C\u1ee7a ET<\/h3><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Khi ph\u00e2n t\u00edch li\u1ec7u \"\"c\u00f3 n\u00ean mua c\u1ed5 phi\u1ebfu ET\"\" c\u00f3 h\u1ee3p l\u00fd cho c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 thu nh\u1eadp, l\u1ecbch s\u1eed ph\u00e2n ph\u1ed1i c\u1ee7a c\u00f4ng ty ti\u1ebft l\u1ed9 m\u1ed9t m\u00f4 h\u00ecnh r\u00f5 r\u00e0ng:<\/p><\/div><div class='po-container po-container_width_article po-article-page__table'><div class='po-table'><table><thead><tr><th>Ch\u1ec9 S\u1ed1 Ph\u00e2n Ph\u1ed1i<\/th><th>D\u1eef Li\u1ec7u Hi\u1ec7n T\u1ea1i<\/th><th>H\u00e0m \u00dd \u0110\u1ea7u T\u01b0<\/th><\/tr><\/thead><tbody><tr><td>T\u1ef7 L\u1ec7 Ph\u00e2n Ph\u1ed1i H\u00e0ng N\u0103m<\/td><td>1.26 \u0111\u00f4 la m\u1ed7i \u0111\u01a1n v\u1ecb<\/td><td>L\u1ee3i su\u1ea5t hi\u1ec7n t\u1ea1i 8.4%<\/td><\/tr><tr><td>T\u0103ng Tr\u01b0\u1edfng Ph\u00e2n Ph\u1ed1i<\/td><td>T\u0103ng 3.5% h\u00e0ng n\u0103m (2023)<\/td><td>V\u01b0\u1ee3t qua l\u1ea1m ph\u00e1t<\/td><\/tr><tr><td>T\u1ef7 L\u1ec7 B\u1ea3o Hi\u1ec3m<\/td><td>1.7x<\/td><td>Cao h\u01a1n 42% so v\u1edbi m\u1ee9c t\u1ed1i thi\u1ec3u y\u00eau c\u1ea7u<\/td><\/tr><tr><td>Ph\u00e2n Ph\u1ed1i so v\u1edbi Tr\u00e1i Phi\u1ebfu Kho B\u1ea1c 10 N\u0103m<\/td><td>L\u1ee3i su\u1ea5t cao h\u01a1n 4.3%<\/td><td>Ph\u1ea7n th\u01b0\u1edfng thu nh\u1eadp \u0111\u00e1ng k\u1ec3<\/td><\/tr><\/tbody><\/table><\/div><\/div><div class='po-container po-container_width_article-sm'><h2 class='po-article-page__title'>C\u00e1c Y\u1ebfu T\u1ed1 Ph\u00e2n T\u00edch K\u1ef9 Thu\u1eadt Trong Quy\u1ebft \u0110\u1ecbnh Mua ho\u1eb7c B\u00e1n C\u1ed5 Phi\u1ebfu ET<\/h2><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Ngo\u00e0i c\u00e1c y\u1ebfu t\u1ed1 c\u01a1 b\u1ea3n, c\u00e1c t\u00edn hi\u1ec7u k\u1ef9 thu\u1eadt cung c\u1ea5p th\u1eddi \u0111i\u1ec3m v\u00e0o v\u00e0 ra ch\u00ednh x\u00e1c cho c\u00e1c quy\u1ebft \u0111\u1ecbnh mua ho\u1eb7c b\u00e1n c\u1ed5 phi\u1ebfu ET. Ph\u00e2n t\u00edch k\u1ef9 thu\u1eadt c\u1ee7a Pocket Option x\u00e1c \u0111\u1ecbnh c\u00e1c k\u00edch ho\u1ea1t c\u1ee5 th\u1ec3 n\u00e0y:<\/p><\/div><div class='po-container po-container_width_article-sm article-content po-article-page__text'><ul class='po-article-page-list'><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>H\u1ed7 tr\u1ee3 m\u1ea1nh \u1edf m\u1ee9c 13.65 \u0111\u00f4 la (MA 200 ng\u00e0y) \u0111\u00e3 \u0111\u01b0\u1ee3c th\u1eed nghi\u1ec7m v\u00e0 gi\u1eef v\u1eefng ba l\u1ea7n trong Q1 2024<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>H\u00ecnh th\u00e0nh giao c\u1eaft v\u00e0ng (MA 50 ng\u00e0y v\u01b0\u1ee3t qua MA 200 ng\u00e0y) x\u1ea3y ra v\u00e0o ng\u00e0y 8 th\u00e1ng 2 n\u0103m 2024, tr\u01b0\u1edbc khi t\u0103ng 7.8%<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Ch\u1ec9 s\u1ed1 RSI d\u01b0\u1edbi 35 \u0111\u00e3 d\u1eabn \u0111\u1ebfn b\u1ed1n l\u1ea7n ph\u1ee5c h\u1ed3i \u0111\u00e1ng k\u1ec3 trung b\u00ecnh 12.3% trong giai \u0111o\u1ea1n 2023-2024<\/li><\/ul><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>C\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 \u0111\u00e1nh gi\u00e1 li\u1ec7u \"\"c\u00f3 n\u00ean mua c\u1ed5 phi\u1ebfu et\"\" c\u1ea7n theo d\u00f5i c\u00e1c m\u00f4 h\u00ecnh k\u1ef9 thu\u1eadt \u0111\u00e3 \u0111\u01b0\u1ee3c thi\u1ebft l\u1eadp n\u00e0y. Trong cu\u1ed9c kh\u1ee7ng ho\u1ea3ng ng\u00e2n h\u00e0ng th\u00e1ng 3 n\u0103m 2023, ET \u0111\u00e3 h\u00ecnh th\u00e0nh m\u1ed9t m\u00f4 h\u00ecnh ph\u00e2n k\u1ef3 t\u0103ng gi\u00e1 tr\u00ean ch\u1ec9 b\u00e1o RSI trong khi th\u1eed nghi\u1ec7m h\u1ed7 tr\u1ee3 ch\u00ednh \u1edf m\u1ee9c 11.45 \u0111\u00f4 la, b\u00e1o hi\u1ec7u s\u1ef1 t\u0103ng 32% ti\u1ebfp theo di\u1ec5n ra trong 9 th\u00e1ng ti\u1ebfp theo.<\/p><\/div><div class='po-container po-container_width_article-sm'><h2 class='po-article-page__title'>\u0110\u1ed9ng L\u1ef1c Ng\u00e0nh \u1ea2nh H\u01b0\u1edfng \u0110\u1ebfn Energy Transfer<\/h2><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Khi x\u00e1c \u0111\u1ecbnh li\u1ec7u \"\"ET c\u00f3 ph\u1ea3i l\u00e0 c\u1ed5 phi\u1ebfu t\u1ed1t\"\" cho danh m\u1ee5c \u0111\u1ea7u t\u01b0 c\u1ee7a b\u1ea1n, b\u1ed1n xu h\u01b0\u1edbng ng\u00e0nh \u0111\u1ecbnh l\u01b0\u1ee3ng tr\u1ef1c ti\u1ebfp \u1ea3nh h\u01b0\u1edfng \u0111\u1ebfn hi\u1ec7u su\u1ea5t:<\/p><\/div><div class='po-container po-container_width_article po-article-page__table'><div class='po-table'><table><thead><tr><th>Y\u1ebfu T\u1ed1 Ng\u00e0nh<\/th><th>D\u1eef Li\u1ec7u Hi\u1ec7n T\u1ea1i<\/th><th>T\u00e1c \u0110\u1ed9ng \u0110\u1ebfn C\u1ed5 Phi\u1ebfu ET<\/th><\/tr><\/thead><tbody><tr><td>T\u0103ng Tr\u01b0\u1edfng Xu\u1ea5t Kh\u1ea9u LNG c\u1ee7a M\u1ef9<\/td><td>T\u0103ng 27% so v\u1edbi c\u00f9ng k\u1ef3 n\u0103m tr\u01b0\u1edbc<\/td><td>C\u00e1c c\u1ea3ng c\u1ee7a ET \u1edf V\u1ecbnh Mexico \u0111\u01b0\u1ee3c \u0111\u1ecbnh v\u1ecb \u0111\u1ec3 chi\u1ebfm 18% d\u00f2ng ch\u1ea3y<\/td><\/tr><tr><td>S\u1ea3n Xu\u1ea5t T\u1ea1i L\u01b0u V\u1ef1c Permian<\/td><td>6.3 tri\u1ec7u th\u00f9ng\/ng\u00e0y (t\u0103ng 14% YoY)<\/td><td>C\u00f4ng su\u1ea5t 4.7 tri\u1ec7u th\u00f9ng\/ng\u00e0y c\u1ee7a ET \u0111\u01b0\u1ee3c s\u1eed d\u1ee5ng 89%<\/td><\/tr><tr><td>H\u1ea1n Ch\u1ebf C\u01a1 S\u1edf H\u1ea1 T\u1ea7ng<\/td><td>93% s\u1eed d\u1ee5ng c\u00e1c \u0111\u01b0\u1eddng \u1ed1ng hi\u1ec7n c\u00f3<\/td><td>H\u1ed7 tr\u1ee3 t\u0103ng 8-12% t\u1ef7 l\u1ec7 v\u1eadn chuy\u1ec3n cao h\u01a1n khi gia h\u1ea1n<\/td><\/tr><tr><td>Ph\u00e1t \u0110i\u1ec7n B\u1eb1ng Kh\u00ed T\u1ef1 Nhi\u00ean<\/td><td>42% trong h\u1ed7n h\u1ee3p \u0111i\u1ec7n c\u1ee7a M\u1ef9<\/td><td>Th\u00fac \u0111\u1ea9y t\u0103ng tr\u01b0\u1edfng kh\u1ed1i l\u01b0\u1ee3ng h\u00e0ng n\u0103m 3.8% trong m\u1ea1ng l\u01b0\u1edbi kh\u00ed \u0111\u1ed1t c\u1ee7a ET<\/td><\/tr><\/tbody><\/table><\/div><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>M\u1ed9t v\u00ed d\u1ee5 c\u1ee5 th\u1ec3 minh h\u1ecda t\u00e1c \u0111\u1ed9ng n\u00e0y: Trong Q3 2023, kh\u1ed1i l\u01b0\u1ee3ng v\u1eadn chuy\u1ec3n NGL c\u1ee7a ET t\u0103ng 15% so v\u1edbi c\u00f9ng k\u1ef3 n\u0103m tr\u01b0\u1edbc khi c\u00e1c nh\u00e0 s\u1ea3n xu\u1ea5t Permian t\u1ed1i \u0111a h\u00f3a vi\u1ec7c khai th\u00e1c ch\u1ea5t l\u1ecfng trong b\u1ed1i c\u1ea3nh ch\u00eanh l\u1ec7ch gi\u00e1 thu\u1eadn l\u1ee3i. S\u1ef1 gia t\u0103ng kh\u1ed1i l\u01b0\u1ee3ng n\u00e0y \u0111\u00e3 th\u00fac \u0111\u1ea9y t\u0103ng 17.3% EBITDA c\u1ee7a ph\u00e2n kh\u00fac, tr\u1ef1c ti\u1ebfp n\u00e2ng cao hi\u1ec7u su\u1ea5t t\u00e0i ch\u00ednh t\u1ed5ng th\u1ec3 c\u1ee7a ET.<\/p><\/div><div class='po-container po-container_width_article-sm'><h2 class='po-article-page__title'>\u0110\u00e1nh Gi\u00e1 R\u1ee7i Ro Cho V\u1ecb Th\u1ebf C\u1ed5 Phi\u1ebfu ET<\/h2><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>M\u1ed9t ph\u00e2n t\u00edch \"\"mua hay b\u00e1n c\u1ed5 phi\u1ebfu ET\"\" k\u1ef9 l\u01b0\u1ee1ng \u0111\u00f2i h\u1ecfi ph\u1ea3i \u0111\u1ecbnh l\u01b0\u1ee3ng c\u00e1c r\u1ee7i ro c\u1ee5 th\u1ec3. C\u00e1c m\u00f4 h\u00ecnh r\u1ee7i ro c\u1ee7a Pocket Option n\u00eau b\u1eadt c\u00e1c y\u1ebfu t\u1ed1 quan tr\u1ecdng n\u00e0y:<\/p><\/div><div class='po-container po-container_width_article-sm'><h3 class='po-article-page__title'>R\u1ee7i Ro Quy \u0110\u1ecbnh v\u00e0 Ch\u00ednh S\u00e1ch<\/h3><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>C\u00e1c c\u00f4ng ty c\u01a1 s\u1edf h\u1ea1 t\u1ea7ng n\u0103ng l\u01b0\u1ee3ng \u0111\u1ed1i m\u1eb7t v\u1edbi nh\u1eefng th\u00e1ch th\u1ee9c quy \u0111\u1ecbnh c\u1ee5 th\u1ec3 \u1ea3nh h\u01b0\u1edfng \u0111\u1ebfn ho\u1ea1t \u0111\u1ed9ng:<\/p><\/div><div class='po-container po-container_width_article-sm article-content po-article-page__text'><ul class='po-article-page-list'><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>\u0110\u1ec1 xu\u1ea5t s\u1eeda \u0111\u1ed5i ph\u01b0\u01a1ng ph\u00e1p chi ph\u00ed d\u1ecbch v\u1ee5 c\u1ee7a FERC c\u00f3 th\u1ec3 \u1ea3nh h\u01b0\u1edfng \u0111\u1ebfn c\u00e1c v\u1ee5 ki\u1ec7n v\u1ec1 t\u1ef7 l\u1ec7 v\u00e0o n\u0103m 2025<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Gi\u1ea5y ph\u00e9p \u0110\u01b0\u1eddng \u1ed1ng Dakota Access (DAPL) \u0111\u1ed1i m\u1eb7t v\u1edbi c\u00e1c th\u00e1ch th\u1ee9c ph\u00e1p l\u00fd \u0111ang di\u1ec5n ra m\u1eb7c d\u00f9 \u0111\u00e3 ho\u1ea1t \u0111\u1ed9ng t\u1eeb n\u0103m 2017<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>C\u00e1c c\u01a1 ch\u1ebf \u0111\u1ecbnh gi\u00e1 carbon \u0111ang \u0111\u01b0\u1ee3c xem x\u00e9t \u1edf 12 ti\u1ec3u bang n\u01a1i ET ho\u1ea1t \u0111\u1ed9ng<\/li><li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Quy \u0111\u1ecbnh v\u1ec1 kh\u00ed th\u1ea3i methane y\u00eau c\u1ea7u gi\u1ea3m 87% v\u00e0o n\u0103m 2030 s\u1ebd c\u1ea7n 280 tri\u1ec7u \u0111\u00f4 la n\u00e2ng c\u1ea5p h\u1ec7 th\u1ed1ng<\/li><\/ul><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>\u0110\u1ed1i v\u1edbi c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 h\u1ecfi \"\"c\u00f3 n\u00ean mua c\u1ed5 phi\u1ebfu et,\"\" c\u00e1c y\u1ebfu t\u1ed1 quy \u0111\u1ecbnh n\u00e0y ph\u1ea3i \u0111\u01b0\u1ee3c c\u00e2n nh\u1eafc so v\u1edbi l\u1ee3i th\u1ebf \u0111\u1ecbnh gi\u00e1. N\u0103m 2020, lo ng\u1ea1i v\u1ec1 vi\u1ec7c \u0111\u00f3ng c\u1eeda DAPL \u0111\u00e3 g\u00e2y ra s\u1ef1 s\u1ee5t gi\u1ea3m 22% trong m\u1ed9t ng\u00e0y c\u1ee7a c\u1ed5 phi\u1ebfu ET, cho th\u1ea5y c\u00e1ch r\u1ee7i ro quy \u0111\u1ecbnh c\u00f3 th\u1ec3 t\u1ea1o ra c\u1ea3 bi\u1ebfn \u0111\u1ed9ng v\u00e0 c\u01a1 h\u1ed9i.<\/p><\/div><div class='po-container po-container_width_article po-article-page__table'><div class='po-table'><table><thead><tr><th>Danh M\u1ee5c R\u1ee7i Ro<\/th><th>X\u00e1c Su\u1ea5t<\/th><th>T\u00e1c \u0110\u1ed9ng Ti\u1ec1m N\u0103ng<\/th><th>Chi\u1ebfn L\u01b0\u1ee3c Gi\u1ea3m Thi\u1ec3u<\/th><\/tr><\/thead><tbody><tr><td>Bi\u1ebfn \u0110\u1ed9ng Gi\u00e1 H\u00e0ng H\u00f3a<\/td><td>Cao (85%)<\/td><td>13% EBITDA ti\u1ebfp x\u00fac tr\u1ef1c ti\u1ebfp<\/td><td>78% ti\u1ebfp x\u00fac n\u0103m 2024 \u0111\u01b0\u1ee3c b\u1ea3o hi\u1ec3m \u1edf m\u1ee9c thu\u1eadn l\u1ee3i<\/td><\/tr><tr><td>T\u0103ng L\u00e3i Su\u1ea5t<\/td><td>Trung B\u00ecnh (60%)<\/td><td>Chi ph\u00ed l\u00e3i su\u1ea5t h\u00e0ng n\u0103m 145 tri\u1ec7u \u0111\u00f4 la m\u1ed7i l\u1ea7n t\u0103ng 1% l\u00e3i su\u1ea5t<\/td><td>72% n\u1ee3 l\u00e3i su\u1ea5t c\u1ed1 \u0111\u1ecbnh, th\u1eddi gian \u0111\u00e1o h\u1ea1n trung b\u00ecnh 8.3 n\u0103m<\/td><\/tr><tr><td>V\u1ee1 N\u1ee3 \u0110\u1ed1i T\u00e1c<\/td><td>Th\u1ea5p (15%)<\/td><td>20 kh\u00e1ch h\u00e0ng h\u00e0ng \u0111\u1ea7u chi\u1ebfm 42% doanh thu<\/td><td>X\u1ebfp h\u1ea1ng t\u00edn d\u1ee5ng trung b\u00ecnh BBB trong s\u1ed1 kh\u00e1ch h\u00e0ng, 78% c\u00f3 t\u00e0i s\u1ea3n th\u1ebf ch\u1ea5p t\u00edn d\u1ee5ng<\/td><\/tr><tr><td>Tr\u00ec Ho\u00e3n D\u1ef1 \u00c1n<\/td><td>Trung B\u00ecnh (55%)<\/td><td>1.2 t\u1ef7 \u0111\u00f4 la d\u1ef1 \u00e1n t\u0103ng tr\u01b0\u1edfng \u0111ang ti\u1ebfn h\u00e0nh<\/td><td>Ng\u00e2n s\u00e1ch d\u1ef1 ph\u00f2ng trung b\u00ecnh 15%, ph\u01b0\u01a1ng ph\u00e1p x\u00e2y d\u1ef1ng m\u00f4-\u0111un<\/td><\/tr><\/tbody><\/table><\/div><\/div><div class='po-container po-container_width_article-sm'><h2 class='po-article-page__title'>Chi\u1ebfn L\u01b0\u1ee3c \u0110\u1ea7u T\u01b0 Cho V\u1ecb Th\u1ebf C\u1ed5 Phi\u1ebfu ET<\/h2><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Sau khi ph\u00e2n t\u00edch c\u00e2u h\u1ecfi \"\"mua hay b\u00e1n c\u1ed5 phi\u1ebfu ET,\"\" h\u00e3y th\u1ef1c hi\u1ec7n c\u00e1c chi\u1ebfn l\u01b0\u1ee3c c\u1ee5 th\u1ec3 n\u00e0y d\u1ef1a tr\u00ean m\u1ee5c ti\u00eau \u0111\u1ea7u t\u01b0 c\u1ee7a b\u1ea1n. Pocket Option khuy\u1ebfn ngh\u1ecb c\u00e1c ph\u01b0\u01a1ng ph\u00e1p ti\u1ebfp c\u1eadn chi\u1ebfn thu\u1eadt n\u00e0y:<\/p><\/div><div class='po-container po-container_width_article po-article-page__table'><div class='po-table'><table><thead><tr><th>Chi\u1ebfn L\u01b0\u1ee3c<\/th><th>Ph\u01b0\u01a1ng Ph\u00e1p Th\u1ef1c Hi\u1ec7n<\/th><th>K\u1ebft Qu\u1ea3 D\u1ef1 Ki\u1ebfn<\/th><\/tr><\/thead><tbody><tr><td>Thu Ho\u1ea1ch Thu Nh\u1eadp<\/td><td>Mua tr\u01b0\u1edbc ng\u00e0y kh\u00f4ng h\u01b0\u1edfng c\u1ed5 t\u1ee9c (h\u00e0ng qu\u00fd), t\u00e1i \u0111\u1ea7u t\u01b0 50% ph\u00e2n ph\u1ed1i<\/td><td>L\u1ee3i su\u1ea5t c\u01a1 b\u1ea3n 8.4% c\u1ed9ng th\u00eam hi\u1ec7u \u1ee9ng l\u00e3i k\u00e9p 1.7% h\u00e0ng n\u0103m<\/td><\/tr><tr><td>T\u00edch L\u0169y K\u1ef9 Thu\u1eadt<\/td><td>25% v\u1ecb th\u1ebf t\u1ea1i h\u1ed7 tr\u1ee3, th\u00eam 25% khi giao c\u1eaft v\u00e0ng, ho\u00e0n th\u00e0nh v\u1ecb th\u1ebf sau khi v\u01b0\u1ee3t qua k\u1ef3 v\u1ecdng thu nh\u1eadp<\/td><td>Gi\u00e1 v\u00e0o trung b\u00ecnh th\u1ea5p h\u01a1n 5-8% so v\u1edbi trung b\u00ecnh th\u1ecb tr\u01b0\u1eddng<\/td><\/tr><tr><td>Vi\u1ebft Quy\u1ec1n Ch\u1ecdn B\u00e1n<\/td><td>B\u00e1n quy\u1ec1n ch\u1ecdn h\u00e0ng th\u00e1ng cao h\u01a1n 10-12% so v\u1edbi gi\u00e1 hi\u1ec7n t\u1ea1i v\u1edbi th\u1eddi h\u1ea1n 30-45 ng\u00e0y<\/td><td>Th\u00eam 4-6% thu nh\u1eadp h\u00e0ng n\u0103m tr\u00ean c\u00e1c v\u1ecb th\u1ebf hi\u1ec7n c\u00f3<\/td><\/tr><tr><td>Giao D\u1ecbch C\u1eb7p ET\/MMP<\/td><td>Mua d\u00e0i ET\/B\u00e1n ng\u1eafn MMP khi ch\u00eanh l\u1ec7ch v\u01b0\u1ee3t qu\u00e1 2 \u0111\u1ed9 l\u1ec7ch chu\u1ea9n<\/td><td>N\u1eafm b\u1eaft gi\u00e1 tr\u1ecb t\u01b0\u01a1ng \u0111\u1ed1i trong khi gi\u1ea3m thi\u1ec3u ti\u1ebfp x\u00fac ng\u00e0nh<\/td><\/tr><\/tbody><\/table><\/div><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>V\u00ed d\u1ee5 th\u1ef1c t\u1ebf: N\u0103m 2023, c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 th\u1ef1c hi\u1ec7n t\u00e1i \u0111\u1ea7u t\u01b0 ph\u00e2n ph\u1ed1i c\u00f3 h\u1ec7 th\u1ed1ng trong \u0111\u1ee3t \u0111i\u1ec1u ch\u1ec9nh gi\u00e1 c\u1ee7a ET v\u00e0o th\u00e1ng 2 (khi c\u00e1c \u0111\u01a1n v\u1ecb giao d\u1ecbch \u1edf m\u1ee9c 12.35 \u0111\u00f4 la) \u0111\u00e3 n\u1eafm b\u1eaft \u0111\u01b0\u1ee3c c\u1ea3 s\u1ef1 t\u0103ng gi\u00e1 22% ti\u1ebfp theo v\u00e0 b\u1ed1n ph\u00e2n ph\u1ed1i h\u00e0ng qu\u00fd, \u0111\u1ea1t \u0111\u01b0\u1ee3c t\u1ed5ng l\u1ee3i nhu\u1eadn 31% so v\u1edbi m\u1ee9c trung b\u00ecnh 17% c\u1ee7a ng\u00e0nh.<\/p><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Khi \u0111\u00e1nh gi\u00e1 li\u1ec7u \"\"ET c\u00f3 ph\u1ea3i l\u00e0 c\u1ed5 phi\u1ebfu t\u1ed1t,\"\" h\u00e3y \u0111i\u1ec1u ch\u1ec9nh chi\u1ebfn l\u01b0\u1ee3c c\u1ee7a b\u1ea1n v\u1edbi c\u00e1c k\u00edch ho\u1ea1t gi\u00e1 c\u1ee5 th\u1ec3 v\u00e0 c\u00e1c ch\u1ec9 s\u1ed1 t\u00e0i ch\u00ednh. V\u00ed d\u1ee5, D\u00f2ng Ti\u1ec1n C\u00f3 Th\u1ec3 Ph\u00e2n Ph\u1ed1i c\u1ee7a ET t\u0103ng trung b\u00ecnh 1.8% cho m\u1ed7i 100,000 th\u00f9ng\/ng\u00e0y t\u0103ng tr\u01b0\u1edfng kh\u1ed1i l\u01b0\u1ee3ng tr\u00ean to\u00e0n h\u1ec7 th\u1ed1ng c\u1ee7a n\u00f3, cung c\u1ea5p m\u1ed1i quan h\u1ec7 \u0111\u1ecbnh l\u01b0\u1ee3ng gi\u1eefa hi\u1ec7u su\u1ea5t ho\u1ea1t \u0111\u1ed9ng v\u00e0 l\u1ee3i nhu\u1eadn \u0111\u1ea7u t\u01b0.<\/p><\/div><div class='po-container po-container_width_article-sm'><h2 class='po-article-page__title'>\u0110\u1ed3ng Thu\u1eadn Chuy\u00ean Gia V\u1ec1 Tri\u1ec3n V\u1ecdng C\u1ed5 Phi\u1ebfu ET<\/h2><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>C\u00e1c nh\u00e0 ph\u00e2n t\u00edch Ph\u1ed1 Wall cung c\u1ea5p c\u00e1c \u0111\u00e1nh gi\u00e1 c\u1ee5 th\u1ec3 n\u00e0y cho quy\u1ebft \u0111\u1ecbnh \"\"mua hay b\u00e1n c\u1ed5 phi\u1ebfu ET\"\":<\/p><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Trong s\u1ed1 17 nh\u00e0 ph\u00e2n t\u00edch theo d\u00f5i Energy Transfer, 14 ng\u01b0\u1eddi \u0111\u00e1nh gi\u00e1 \"\"Mua\"\" ho\u1eb7c \"\"Mua M\u1ea1nh\"\" trong khi 3 ng\u01b0\u1eddi duy tr\u00ec \u0111\u00e1nh gi\u00e1 \"\"Gi\u1eef\"\". M\u1ee5c ti\u00eau gi\u00e1 trung b\u00ecnh 12 th\u00e1ng c\u1ee7a h\u1ecd l\u00e0 18.35 \u0111\u00f4 la, \u0111\u1ea1i di\u1ec7n cho m\u1ee9c t\u0103ng 23% t\u1eeb m\u1ee9c hi\u1ec7n t\u1ea1i. \u0110\u00e1ng ch\u00fa \u00fd nh\u1ea5t l\u00e0 s\u1ef1 \u0111\u1ed3ng thu\u1eadn ch\u1eb7t ch\u1ebd v\u1ec1 t\u00ednh b\u1ec1n v\u1eefng c\u1ee7a ph\u00e2n ph\u1ed1i, v\u1edbi t\u1ea5t c\u1ea3 17 nh\u00e0 ph\u00e2n t\u00edch d\u1ef1 \u0111o\u00e1n t\u1ef7 l\u1ec7 b\u1ea3o hi\u1ec3m ti\u1ebfp t\u1ee5c tr\u00ean 1.5x \u0111\u1ebfn n\u0103m 2026.<\/p><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Bernstein Research \u0111\u1eb7c bi\u1ec7t nh\u1ea5n m\u1ea1nh ET l\u00e0 b\u1ecb \u0111\u1ecbnh gi\u00e1 th\u1ea5p \u0111\u00e1ng k\u1ec3, l\u01b0u \u00fd r\u1eb1ng b\u1ed9i s\u1ed1 EV\/EBITDA 8.7x c\u1ee7a n\u00f3 th\u1ea5p h\u01a1n m\u1ee9c trung b\u00ecnh 10.2x c\u1ee7a \u0111\u1ed1i th\u1ee7 m\u1eb7c d\u00f9 c\u00f3 c\u00e1c ch\u1ec9 s\u1ed1 t\u0103ng tr\u01b0\u1edfng v\u01b0\u1ee3t tr\u1ed9i. Trong khi \u0111\u00f3, Credit Suisse x\u00e1c \u0111\u1ecbnh d\u1ef1 \u00e1n c\u1ea3ng xu\u1ea5t kh\u1ea9u LNG Lake Charles c\u1ee7a ET l\u00e0 m\u1ed9t ch\u1ea5t x\u00fac t\u00e1c ti\u1ec1m n\u0103ng c\u00f3 th\u1ec3 th\u00eam 1.85 \u0111\u00f4 la m\u1ed7i \u0111\u01a1n v\u1ecb v\u00e0o gi\u00e1 tr\u1ecb n\u1ebfu quy\u1ebft \u0111\u1ecbnh \u0111\u1ea7u t\u01b0 cu\u1ed1i c\u00f9ng di\u1ec5n ra v\u00e0o n\u0103m 2024.<\/p><\/div>[cta_button text=\"\"]<div class='po-container po-container_width_article-sm'><h2 class='po-article-page__title'>K\u1ebft Lu\u1eadn: \u0110\u01b0a Ra Quy\u1ebft \u0110\u1ecbnh Mua ho\u1eb7c B\u00e1n C\u1ed5 Phi\u1ebfu ET<\/h2><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Quy\u1ebft \u0111\u1ecbnh \"\"mua hay b\u00e1n c\u1ed5 phi\u1ebfu ET\"\" cu\u1ed1i c\u00f9ng d\u1ef1a tr\u00ean nh\u1eefng ph\u00e1t hi\u1ec7n ch\u00ednh n\u00e0y:<\/p><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>ET cung c\u1ea5p c\u00e1c ch\u1ec9 s\u1ed1 gi\u00e1 tr\u1ecb h\u1ea5p d\u1eabn v\u1edbi l\u1ee3i su\u1ea5t ph\u00e2n ph\u1ed1i 8.4% \u0111\u01b0\u1ee3c h\u1ed7 tr\u1ee3 b\u1edfi t\u1ef7 l\u1ec7 b\u1ea3o hi\u1ec3m 1.7x v\u00e0 b\u1ed9i s\u1ed1 EV\/EBITDA 8.7x th\u1ea5p h\u01a1n 26% so v\u1edbi trung b\u00ecnh 5 n\u0103m c\u1ee7a n\u00f3. V\u1ecb tr\u00ed chi\u1ebfn l\u01b0\u1ee3c c\u1ee7a c\u00f4ng ty trong c\u00e1c h\u00e0nh lang n\u0103ng l\u01b0\u1ee3ng t\u0103ng tr\u01b0\u1edfng cao nh\u01b0 L\u01b0u V\u1ef1c Permian v\u00e0 c\u00e1c c\u01a1 s\u1edf xu\u1ea5t kh\u1ea9u V\u1ecbnh Mexico cung c\u1ea5p c\u00e1c ch\u1ea5t x\u00fac t\u00e1c t\u0103ng tr\u01b0\u1edfng kh\u1ed1i l\u01b0\u1ee3ng h\u1eefu h\u00ecnh.<\/p><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>Tuy nhi\u00ean, c\u00e1c th\u00e1ch th\u1ee9c quy \u0111\u1ecbnh bao g\u1ed3m ki\u1ec7n t\u1ee5ng \u0111\u01b0\u1eddng \u1ed1ng \u0111ang di\u1ec5n ra v\u00e0 quy \u0111\u1ecbnh v\u1ec1 kh\u00ed th\u1ea3i methane tr\u00ecnh b\u00e0y c\u00e1c r\u1ee7i ro v\u1eadt ch\u1ea5t c\u1ea7n \u0111\u01b0\u1ee3c gi\u00e1m s\u00e1t c\u1ea9n th\u1eadn. M\u1ee9c n\u1ee3 c\u1ee7a ET, m\u1eb7c d\u00f9 \u0111\u00e3 c\u1ea3i thi\u1ec7n t\u1eeb 5.1x xu\u1ed1ng 4.3x EBITDA trong 24 th\u00e1ng, v\u1eabn c\u1ea7n ti\u1ebfn b\u1ed9 h\u01a1n n\u1eefa \u0111\u1ec3 \u0111\u1ea1t \u0111\u01b0\u1ee3c m\u1ee5c ti\u00eau 4.0x c\u1ee7a ban qu\u1ea3n l\u00fd.<\/p><\/div><div class='po-container po-container_width_article-sm'><p class='po-article-page__text'>C\u00e1c c\u00f4ng c\u1ee5 ph\u00e2n t\u00edch c\u1ee7a Pocket Option gi\u00fap c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 theo d\u00f5i c\u00e1c ch\u1ec9 s\u1ed1 c\u1ee5 th\u1ec3 n\u00e0y v\u00e0 \u0111i\u1ec1u ch\u1ec9nh c\u00e1c v\u1ecb th\u1ebf ET cho ph\u00f9 h\u1ee3p. C\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 th\u00e0nh c\u00f4ng trong l\u0129nh v\u1ef1c n\u00e0y k\u1ebft h\u1ee3p c\u00e1c \u0111i\u1ec3m v\u00e0o d\u1ef1a tr\u00ean \u0111\u1ecbnh gi\u00e1 v\u1edbi c\u00e1c t\u00edn hi\u1ec7u x\u00e1c nh\u1eadn k\u1ef9 thu\u1eadt, t\u1ea1o ra m\u1ed9t khung k\u1ef7 lu\u1eadt \u0111\u1ec3 n\u1eafm b\u1eaft c\u1ea3 c\u01a1 h\u1ed9i thu nh\u1eadp v\u00e0 t\u0103ng gi\u00e1 v\u1ed1n trong nh\u00e0 l\u00e3nh \u0111\u1ea1o n\u0103ng l\u01b0\u1ee3ng trung l\u01b0u n\u00e0y.<\/p><\/div>","body_html_source":{"label":"Body HTML","type":"wysiwyg","formatted_value":"<div class='po-container po-container_width_article-sm'>\n<h2 class='po-article-page__title'>Hi\u1ec3u V\u1ecb Th\u1ebf Th\u1ecb Tr\u01b0\u1eddng C\u1ed5 Phi\u1ebfu ET<\/h2>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Khi \u0111\u00e1nh gi\u00e1 c\u00e2u h\u1ecfi &#8220;&#8221;mua hay b\u00e1n c\u1ed5 phi\u1ebfu ET&#8221;&#8221;, c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 ph\u1ea3i hi\u1ec3u r\u00f5 nh\u1eefng l\u1ee3i th\u1ebf th\u1ecb tr\u01b0\u1eddng c\u1ee5 th\u1ec3 c\u1ee7a Energy Transfer. V\u1edbi h\u01a1n 125,000 d\u1eb7m c\u01a1 s\u1edf h\u1ea1 t\u1ea7ng \u0111\u01b0\u1eddng \u1ed1ng tr\u1ea3i d\u00e0i qua 44 ti\u1ec3u bang, ET ki\u1ec3m so\u00e1t c\u00e1c k\u00eanh v\u1eadn chuy\u1ec3n n\u0103ng l\u01b0\u1ee3ng quan tr\u1ecdng t\u1ea1o ra 78.6 t\u1ef7 \u0111\u00f4 la doanh thu h\u00e0ng n\u0103m (s\u1ed1 li\u1ec7u n\u0103m 2023).<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Ph\u00e2n t\u00edch c\u1ee7a Pocket Option cho th\u1ea5y m\u00f4 h\u00ecnh kinh doanh c\u1ee7a ET t\u1eadp trung v\u00e0o c\u00e1c h\u1ee3p \u0111\u1ed3ng d\u1ef1a tr\u00ean ph\u00ed cung c\u1ea5p 85-90% doanh thu, b\u1ea3o v\u1ec7 d\u00f2ng ti\u1ec1n kh\u1ecfi bi\u1ebfn \u0111\u1ed9ng gi\u00e1 h\u00e0ng h\u00f3a ng\u1eafn h\u1ea1n. C\u1ea5u tr\u00fac h\u1ee3p \u0111\u1ed3ng n\u00e0y ph\u00e2n bi\u1ec7t ET v\u1edbi c\u00e1c c\u00f4ng ty th\u0103m d\u00f2 tr\u1ea3i qua s\u1ef1 ti\u1ebfp x\u00fac tr\u1ef1c ti\u1ebfp v\u1edbi bi\u1ebfn \u0111\u1ed9ng gi\u00e1 n\u0103ng l\u01b0\u1ee3ng.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Quy\u1ebft \u0111\u1ecbnh &#8220;&#8221;mua hay b\u00e1n c\u1ed5 phi\u1ebfu et&#8221;&#8221; ph\u1ee5 thu\u1ed9c v\u00e0o b\u1ed1n ch\u1ec9 s\u1ed1 \u0111\u1ecbnh l\u01b0\u1ee3ng c\u00f3 t\u00e1c \u0111\u1ed9ng tr\u1ef1c ti\u1ebfp \u0111\u1ebfn hi\u1ec7u su\u1ea5t:<\/p>\n<\/div>\n<div class='po-container po-container_width_article po-article-page__table'>\n<div class='po-table'>\n<table>\n<thead>\n<tr>\n<th>Ch\u1ec9 S\u1ed1 Ch\u00ednh<\/th>\n<th>Gi\u00e1 Tr\u1ecb Hi\u1ec7n T\u1ea1i (Q1 2024)<\/th>\n<th>T\u00e1c \u0110\u1ed9ng \u0110\u1ebfn C\u1ed5 Phi\u1ebfu ET<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>D\u00f2ng Ti\u1ec1n C\u00f3 Th\u1ec3 Ph\u00e2n Ph\u1ed1i (DCF)<\/td>\n<td>2.1 t\u1ef7 \u0111\u00f4 la h\u00e0ng qu\u00fd<\/td>\n<td>T\u0103ng tr\u01b0\u1edfng 14.2% so v\u1edbi c\u00f9ng k\u1ef3 n\u0103m tr\u01b0\u1edbc<\/td>\n<\/tr>\n<tr>\n<td>T\u1ef7 L\u1ec7 B\u1ea3o Hi\u1ec3m Ph\u00e2n Ph\u1ed1i<\/td>\n<td>1.7x<\/td>\n<td>Cao h\u01a1n nhi\u1ec1u so v\u1edbi ng\u01b0\u1ee1ng b\u1ec1n v\u1eefng 1.2x<\/td>\n<\/tr>\n<tr>\n<td>T\u1ef7 L\u1ec7 N\u1ee3 tr\u00ean EBITDA<\/td>\n<td>4.3x<\/td>\n<td>\u0110ang ti\u1ebfn g\u1ea7n \u0111\u1ebfn m\u1ee5c ti\u00eau 4.0x<\/td>\n<\/tr>\n<tr>\n<td>D\u1ef1 Tr\u1eef D\u1ef1 \u00c1n T\u0103ng Tr\u01b0\u1edfng<\/td>\n<td>3.25 t\u1ef7 \u0111\u00f4 la<\/td>\n<td>D\u1ef1 ki\u1ebfn \u0111\u00f3ng g\u00f3p 11% EBITDA v\u00e0o n\u0103m 2026<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<h2 class='po-article-page__title'>Ph\u00e2n T\u00edch C\u01a1 B\u1ea3n: ET C\u00f3 Ph\u1ea3i L\u00e0 C\u1ed5 Phi\u1ebfu T\u1ed1t \u0110\u1ec3 Mua?<\/h2>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Khi c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 h\u1ecfi &#8220;&#8221;ET c\u00f3 ph\u1ea3i l\u00e0 c\u1ed5 phi\u1ebfu t\u1ed1t \u0111\u1ec3 mua,&#8221;&#8221; c\u00e2u tr\u1ea3 l\u1eddi n\u1eb1m \u1edf c\u00e1c ch\u1ec9 s\u1ed1 \u0111\u1ecbnh gi\u00e1 c\u1ee5 th\u1ec3 so v\u1edbi c\u1ea3 trung b\u00ecnh l\u1ecbch s\u1eed v\u00e0 c\u00e1c \u0111\u1ed1i th\u1ee7 trong ng\u00e0nh. Hi\u1ec7n t\u1ea1i, ET giao d\u1ecbch \u1edf m\u1ee9c 8.7x EV\/EBITDA d\u1ef1 ki\u1ebfn so v\u1edbi m\u1ee9c trung b\u00ecnh c\u1ee7a ng\u00e0nh trung l\u01b0u l\u00e0 9.8x.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<h3 class='po-article-page__title'>Ch\u1ec9 S\u1ed1 \u0110\u1ecbnh Gi\u00e1 Cho C\u1ed5 Phi\u1ebfu ET<\/h3>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>C\u1ed5 phi\u1ebfu ET c\u00f3 nh\u1eefng l\u1ee3i th\u1ebf \u0111\u1ecbnh gi\u00e1 c\u1ee5 th\u1ec3 so v\u1edbi c\u00e1c \u0111\u1ed1i th\u1ee7 trong ng\u00e0nh ti\u1ec7n \u00edch v\u00e0 c\u00e1c kho\u1ea3n \u0111\u1ea7u t\u01b0 n\u0103ng l\u01b0\u1ee3ng r\u1ed9ng h\u01a1n:<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm article-content po-article-page__text'>\n<ul class='po-article-page-list'>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>T\u1ef7 l\u1ec7 P\/E l\u00e0 10.2x so v\u1edbi trung b\u00ecnh ng\u00e0nh ti\u1ec7n \u00edch l\u00e0 17.8x<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>EV\/EBITDA l\u00e0 8.7x so v\u1edbi trung b\u00ecnh c\u1ee7a \u0111\u1ed1i th\u1ee7 l\u00e0 9.8x<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>L\u1ee3i su\u1ea5t ph\u00e2n ph\u1ed1i l\u00e0 8.4% so v\u1edbi trung b\u00ecnh ng\u00e0nh l\u00e0 6.7%<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Gi\u00e1 tr\u00ean DCF l\u00e0 5.1x so v\u1edbi trung b\u00ecnh l\u1ecbch s\u1eed l\u00e0 7.3x<\/li>\n<\/ul>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>M\u1ed9t \u0111\u00e1nh gi\u00e1 to\u00e0n di\u1ec7n v\u1ec1 &#8220;&#8221;c\u00f3 n\u00ean mua c\u1ed5 phi\u1ebfu et&#8221;&#8221; ph\u1ea3i th\u1eeba nh\u1eadn r\u1eb1ng ET giao d\u1ecbch v\u1edbi m\u1ee9c chi\u1ebft kh\u1ea5u 26% so v\u1edbi EV\/EBITDA trung b\u00ecnh 5 n\u0103m c\u1ee7a n\u00f3 m\u1eb7c d\u00f9 \u0111\u1ea1t \u0111\u01b0\u1ee3c EBITDA k\u1ef7 l\u1ee5c v\u00e0o n\u0103m 2023. Kho\u1ea3ng c\u00e1ch \u0111\u1ecbnh gi\u00e1 n\u00e0y v\u1eabn t\u1ed3n t\u1ea1i m\u1eb7c d\u00f9 ba qu\u00fd li\u00ean ti\u1ebfp v\u01b0\u1ee3t qua k\u1ef3 v\u1ecdng thu nh\u1eadp trung b\u00ecnh 8.4% so v\u1edbi d\u1ef1 \u0111o\u00e1n c\u1ee7a c\u00e1c nh\u00e0 ph\u00e2n t\u00edch.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<h3 class='po-article-page__title'>Qu\u1ef9 \u0110\u1ea1o T\u0103ng Tr\u01b0\u1edfng Ph\u00e2n Ph\u1ed1i C\u1ee7a ET<\/h3>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Khi ph\u00e2n t\u00edch li\u1ec7u &#8220;&#8221;c\u00f3 n\u00ean mua c\u1ed5 phi\u1ebfu ET&#8221;&#8221; c\u00f3 h\u1ee3p l\u00fd cho c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 thu nh\u1eadp, l\u1ecbch s\u1eed ph\u00e2n ph\u1ed1i c\u1ee7a c\u00f4ng ty ti\u1ebft l\u1ed9 m\u1ed9t m\u00f4 h\u00ecnh r\u00f5 r\u00e0ng:<\/p>\n<\/div>\n<div class='po-container po-container_width_article po-article-page__table'>\n<div class='po-table'>\n<table>\n<thead>\n<tr>\n<th>Ch\u1ec9 S\u1ed1 Ph\u00e2n Ph\u1ed1i<\/th>\n<th>D\u1eef Li\u1ec7u Hi\u1ec7n T\u1ea1i<\/th>\n<th>H\u00e0m \u00dd \u0110\u1ea7u T\u01b0<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>T\u1ef7 L\u1ec7 Ph\u00e2n Ph\u1ed1i H\u00e0ng N\u0103m<\/td>\n<td>1.26 \u0111\u00f4 la m\u1ed7i \u0111\u01a1n v\u1ecb<\/td>\n<td>L\u1ee3i su\u1ea5t hi\u1ec7n t\u1ea1i 8.4%<\/td>\n<\/tr>\n<tr>\n<td>T\u0103ng Tr\u01b0\u1edfng Ph\u00e2n Ph\u1ed1i<\/td>\n<td>T\u0103ng 3.5% h\u00e0ng n\u0103m (2023)<\/td>\n<td>V\u01b0\u1ee3t qua l\u1ea1m ph\u00e1t<\/td>\n<\/tr>\n<tr>\n<td>T\u1ef7 L\u1ec7 B\u1ea3o Hi\u1ec3m<\/td>\n<td>1.7x<\/td>\n<td>Cao h\u01a1n 42% so v\u1edbi m\u1ee9c t\u1ed1i thi\u1ec3u y\u00eau c\u1ea7u<\/td>\n<\/tr>\n<tr>\n<td>Ph\u00e2n Ph\u1ed1i so v\u1edbi Tr\u00e1i Phi\u1ebfu Kho B\u1ea1c 10 N\u0103m<\/td>\n<td>L\u1ee3i su\u1ea5t cao h\u01a1n 4.3%<\/td>\n<td>Ph\u1ea7n th\u01b0\u1edfng thu nh\u1eadp \u0111\u00e1ng k\u1ec3<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<h2 class='po-article-page__title'>C\u00e1c Y\u1ebfu T\u1ed1 Ph\u00e2n T\u00edch K\u1ef9 Thu\u1eadt Trong Quy\u1ebft \u0110\u1ecbnh Mua ho\u1eb7c B\u00e1n C\u1ed5 Phi\u1ebfu ET<\/h2>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Ngo\u00e0i c\u00e1c y\u1ebfu t\u1ed1 c\u01a1 b\u1ea3n, c\u00e1c t\u00edn hi\u1ec7u k\u1ef9 thu\u1eadt cung c\u1ea5p th\u1eddi \u0111i\u1ec3m v\u00e0o v\u00e0 ra ch\u00ednh x\u00e1c cho c\u00e1c quy\u1ebft \u0111\u1ecbnh mua ho\u1eb7c b\u00e1n c\u1ed5 phi\u1ebfu ET. Ph\u00e2n t\u00edch k\u1ef9 thu\u1eadt c\u1ee7a Pocket Option x\u00e1c \u0111\u1ecbnh c\u00e1c k\u00edch ho\u1ea1t c\u1ee5 th\u1ec3 n\u00e0y:<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm article-content po-article-page__text'>\n<ul class='po-article-page-list'>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>H\u1ed7 tr\u1ee3 m\u1ea1nh \u1edf m\u1ee9c 13.65 \u0111\u00f4 la (MA 200 ng\u00e0y) \u0111\u00e3 \u0111\u01b0\u1ee3c th\u1eed nghi\u1ec7m v\u00e0 gi\u1eef v\u1eefng ba l\u1ea7n trong Q1 2024<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>H\u00ecnh th\u00e0nh giao c\u1eaft v\u00e0ng (MA 50 ng\u00e0y v\u01b0\u1ee3t qua MA 200 ng\u00e0y) x\u1ea3y ra v\u00e0o ng\u00e0y 8 th\u00e1ng 2 n\u0103m 2024, tr\u01b0\u1edbc khi t\u0103ng 7.8%<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Ch\u1ec9 s\u1ed1 RSI d\u01b0\u1edbi 35 \u0111\u00e3 d\u1eabn \u0111\u1ebfn b\u1ed1n l\u1ea7n ph\u1ee5c h\u1ed3i \u0111\u00e1ng k\u1ec3 trung b\u00ecnh 12.3% trong giai \u0111o\u1ea1n 2023-2024<\/li>\n<\/ul>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>C\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 \u0111\u00e1nh gi\u00e1 li\u1ec7u &#8220;&#8221;c\u00f3 n\u00ean mua c\u1ed5 phi\u1ebfu et&#8221;&#8221; c\u1ea7n theo d\u00f5i c\u00e1c m\u00f4 h\u00ecnh k\u1ef9 thu\u1eadt \u0111\u00e3 \u0111\u01b0\u1ee3c thi\u1ebft l\u1eadp n\u00e0y. Trong cu\u1ed9c kh\u1ee7ng ho\u1ea3ng ng\u00e2n h\u00e0ng th\u00e1ng 3 n\u0103m 2023, ET \u0111\u00e3 h\u00ecnh th\u00e0nh m\u1ed9t m\u00f4 h\u00ecnh ph\u00e2n k\u1ef3 t\u0103ng gi\u00e1 tr\u00ean ch\u1ec9 b\u00e1o RSI trong khi th\u1eed nghi\u1ec7m h\u1ed7 tr\u1ee3 ch\u00ednh \u1edf m\u1ee9c 11.45 \u0111\u00f4 la, b\u00e1o hi\u1ec7u s\u1ef1 t\u0103ng 32% ti\u1ebfp theo di\u1ec5n ra trong 9 th\u00e1ng ti\u1ebfp theo.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<h2 class='po-article-page__title'>\u0110\u1ed9ng L\u1ef1c Ng\u00e0nh \u1ea2nh H\u01b0\u1edfng \u0110\u1ebfn Energy Transfer<\/h2>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Khi x\u00e1c \u0111\u1ecbnh li\u1ec7u &#8220;&#8221;ET c\u00f3 ph\u1ea3i l\u00e0 c\u1ed5 phi\u1ebfu t\u1ed1t&#8221;&#8221; cho danh m\u1ee5c \u0111\u1ea7u t\u01b0 c\u1ee7a b\u1ea1n, b\u1ed1n xu h\u01b0\u1edbng ng\u00e0nh \u0111\u1ecbnh l\u01b0\u1ee3ng tr\u1ef1c ti\u1ebfp \u1ea3nh h\u01b0\u1edfng \u0111\u1ebfn hi\u1ec7u su\u1ea5t:<\/p>\n<\/div>\n<div class='po-container po-container_width_article po-article-page__table'>\n<div class='po-table'>\n<table>\n<thead>\n<tr>\n<th>Y\u1ebfu T\u1ed1 Ng\u00e0nh<\/th>\n<th>D\u1eef Li\u1ec7u Hi\u1ec7n T\u1ea1i<\/th>\n<th>T\u00e1c \u0110\u1ed9ng \u0110\u1ebfn C\u1ed5 Phi\u1ebfu ET<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>T\u0103ng Tr\u01b0\u1edfng Xu\u1ea5t Kh\u1ea9u LNG c\u1ee7a M\u1ef9<\/td>\n<td>T\u0103ng 27% so v\u1edbi c\u00f9ng k\u1ef3 n\u0103m tr\u01b0\u1edbc<\/td>\n<td>C\u00e1c c\u1ea3ng c\u1ee7a ET \u1edf V\u1ecbnh Mexico \u0111\u01b0\u1ee3c \u0111\u1ecbnh v\u1ecb \u0111\u1ec3 chi\u1ebfm 18% d\u00f2ng ch\u1ea3y<\/td>\n<\/tr>\n<tr>\n<td>S\u1ea3n Xu\u1ea5t T\u1ea1i L\u01b0u V\u1ef1c Permian<\/td>\n<td>6.3 tri\u1ec7u th\u00f9ng\/ng\u00e0y (t\u0103ng 14% YoY)<\/td>\n<td>C\u00f4ng su\u1ea5t 4.7 tri\u1ec7u th\u00f9ng\/ng\u00e0y c\u1ee7a ET \u0111\u01b0\u1ee3c s\u1eed d\u1ee5ng 89%<\/td>\n<\/tr>\n<tr>\n<td>H\u1ea1n Ch\u1ebf C\u01a1 S\u1edf H\u1ea1 T\u1ea7ng<\/td>\n<td>93% s\u1eed d\u1ee5ng c\u00e1c \u0111\u01b0\u1eddng \u1ed1ng hi\u1ec7n c\u00f3<\/td>\n<td>H\u1ed7 tr\u1ee3 t\u0103ng 8-12% t\u1ef7 l\u1ec7 v\u1eadn chuy\u1ec3n cao h\u01a1n khi gia h\u1ea1n<\/td>\n<\/tr>\n<tr>\n<td>Ph\u00e1t \u0110i\u1ec7n B\u1eb1ng Kh\u00ed T\u1ef1 Nhi\u00ean<\/td>\n<td>42% trong h\u1ed7n h\u1ee3p \u0111i\u1ec7n c\u1ee7a M\u1ef9<\/td>\n<td>Th\u00fac \u0111\u1ea9y t\u0103ng tr\u01b0\u1edfng kh\u1ed1i l\u01b0\u1ee3ng h\u00e0ng n\u0103m 3.8% trong m\u1ea1ng l\u01b0\u1edbi kh\u00ed \u0111\u1ed1t c\u1ee7a ET<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>M\u1ed9t v\u00ed d\u1ee5 c\u1ee5 th\u1ec3 minh h\u1ecda t\u00e1c \u0111\u1ed9ng n\u00e0y: Trong Q3 2023, kh\u1ed1i l\u01b0\u1ee3ng v\u1eadn chuy\u1ec3n NGL c\u1ee7a ET t\u0103ng 15% so v\u1edbi c\u00f9ng k\u1ef3 n\u0103m tr\u01b0\u1edbc khi c\u00e1c nh\u00e0 s\u1ea3n xu\u1ea5t Permian t\u1ed1i \u0111a h\u00f3a vi\u1ec7c khai th\u00e1c ch\u1ea5t l\u1ecfng trong b\u1ed1i c\u1ea3nh ch\u00eanh l\u1ec7ch gi\u00e1 thu\u1eadn l\u1ee3i. S\u1ef1 gia t\u0103ng kh\u1ed1i l\u01b0\u1ee3ng n\u00e0y \u0111\u00e3 th\u00fac \u0111\u1ea9y t\u0103ng 17.3% EBITDA c\u1ee7a ph\u00e2n kh\u00fac, tr\u1ef1c ti\u1ebfp n\u00e2ng cao hi\u1ec7u su\u1ea5t t\u00e0i ch\u00ednh t\u1ed5ng th\u1ec3 c\u1ee7a ET.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<h2 class='po-article-page__title'>\u0110\u00e1nh Gi\u00e1 R\u1ee7i Ro Cho V\u1ecb Th\u1ebf C\u1ed5 Phi\u1ebfu ET<\/h2>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>M\u1ed9t ph\u00e2n t\u00edch &#8220;&#8221;mua hay b\u00e1n c\u1ed5 phi\u1ebfu ET&#8221;&#8221; k\u1ef9 l\u01b0\u1ee1ng \u0111\u00f2i h\u1ecfi ph\u1ea3i \u0111\u1ecbnh l\u01b0\u1ee3ng c\u00e1c r\u1ee7i ro c\u1ee5 th\u1ec3. C\u00e1c m\u00f4 h\u00ecnh r\u1ee7i ro c\u1ee7a Pocket Option n\u00eau b\u1eadt c\u00e1c y\u1ebfu t\u1ed1 quan tr\u1ecdng n\u00e0y:<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<h3 class='po-article-page__title'>R\u1ee7i Ro Quy \u0110\u1ecbnh v\u00e0 Ch\u00ednh S\u00e1ch<\/h3>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>C\u00e1c c\u00f4ng ty c\u01a1 s\u1edf h\u1ea1 t\u1ea7ng n\u0103ng l\u01b0\u1ee3ng \u0111\u1ed1i m\u1eb7t v\u1edbi nh\u1eefng th\u00e1ch th\u1ee9c quy \u0111\u1ecbnh c\u1ee5 th\u1ec3 \u1ea3nh h\u01b0\u1edfng \u0111\u1ebfn ho\u1ea1t \u0111\u1ed9ng:<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm article-content po-article-page__text'>\n<ul class='po-article-page-list'>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>\u0110\u1ec1 xu\u1ea5t s\u1eeda \u0111\u1ed5i ph\u01b0\u01a1ng ph\u00e1p chi ph\u00ed d\u1ecbch v\u1ee5 c\u1ee7a FERC c\u00f3 th\u1ec3 \u1ea3nh h\u01b0\u1edfng \u0111\u1ebfn c\u00e1c v\u1ee5 ki\u1ec7n v\u1ec1 t\u1ef7 l\u1ec7 v\u00e0o n\u0103m 2025<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Gi\u1ea5y ph\u00e9p \u0110\u01b0\u1eddng \u1ed1ng Dakota Access (DAPL) \u0111\u1ed1i m\u1eb7t v\u1edbi c\u00e1c th\u00e1ch th\u1ee9c ph\u00e1p l\u00fd \u0111ang di\u1ec5n ra m\u1eb7c d\u00f9 \u0111\u00e3 ho\u1ea1t \u0111\u1ed9ng t\u1eeb n\u0103m 2017<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>C\u00e1c c\u01a1 ch\u1ebf \u0111\u1ecbnh gi\u00e1 carbon \u0111ang \u0111\u01b0\u1ee3c xem x\u00e9t \u1edf 12 ti\u1ec3u bang n\u01a1i ET ho\u1ea1t \u0111\u1ed9ng<\/li>\n<li class='po-article-page__text po-article-page__text_no-margin po-list-lvl_1'>Quy \u0111\u1ecbnh v\u1ec1 kh\u00ed th\u1ea3i methane y\u00eau c\u1ea7u gi\u1ea3m 87% v\u00e0o n\u0103m 2030 s\u1ebd c\u1ea7n 280 tri\u1ec7u \u0111\u00f4 la n\u00e2ng c\u1ea5p h\u1ec7 th\u1ed1ng<\/li>\n<\/ul>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>\u0110\u1ed1i v\u1edbi c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 h\u1ecfi &#8220;&#8221;c\u00f3 n\u00ean mua c\u1ed5 phi\u1ebfu et,&#8221;&#8221; c\u00e1c y\u1ebfu t\u1ed1 quy \u0111\u1ecbnh n\u00e0y ph\u1ea3i \u0111\u01b0\u1ee3c c\u00e2n nh\u1eafc so v\u1edbi l\u1ee3i th\u1ebf \u0111\u1ecbnh gi\u00e1. N\u0103m 2020, lo ng\u1ea1i v\u1ec1 vi\u1ec7c \u0111\u00f3ng c\u1eeda DAPL \u0111\u00e3 g\u00e2y ra s\u1ef1 s\u1ee5t gi\u1ea3m 22% trong m\u1ed9t ng\u00e0y c\u1ee7a c\u1ed5 phi\u1ebfu ET, cho th\u1ea5y c\u00e1ch r\u1ee7i ro quy \u0111\u1ecbnh c\u00f3 th\u1ec3 t\u1ea1o ra c\u1ea3 bi\u1ebfn \u0111\u1ed9ng v\u00e0 c\u01a1 h\u1ed9i.<\/p>\n<\/div>\n<div class='po-container po-container_width_article po-article-page__table'>\n<div class='po-table'>\n<table>\n<thead>\n<tr>\n<th>Danh M\u1ee5c R\u1ee7i Ro<\/th>\n<th>X\u00e1c Su\u1ea5t<\/th>\n<th>T\u00e1c \u0110\u1ed9ng Ti\u1ec1m N\u0103ng<\/th>\n<th>Chi\u1ebfn L\u01b0\u1ee3c Gi\u1ea3m Thi\u1ec3u<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>Bi\u1ebfn \u0110\u1ed9ng Gi\u00e1 H\u00e0ng H\u00f3a<\/td>\n<td>Cao (85%)<\/td>\n<td>13% EBITDA ti\u1ebfp x\u00fac tr\u1ef1c ti\u1ebfp<\/td>\n<td>78% ti\u1ebfp x\u00fac n\u0103m 2024 \u0111\u01b0\u1ee3c b\u1ea3o hi\u1ec3m \u1edf m\u1ee9c thu\u1eadn l\u1ee3i<\/td>\n<\/tr>\n<tr>\n<td>T\u0103ng L\u00e3i Su\u1ea5t<\/td>\n<td>Trung B\u00ecnh (60%)<\/td>\n<td>Chi ph\u00ed l\u00e3i su\u1ea5t h\u00e0ng n\u0103m 145 tri\u1ec7u \u0111\u00f4 la m\u1ed7i l\u1ea7n t\u0103ng 1% l\u00e3i su\u1ea5t<\/td>\n<td>72% n\u1ee3 l\u00e3i su\u1ea5t c\u1ed1 \u0111\u1ecbnh, th\u1eddi gian \u0111\u00e1o h\u1ea1n trung b\u00ecnh 8.3 n\u0103m<\/td>\n<\/tr>\n<tr>\n<td>V\u1ee1 N\u1ee3 \u0110\u1ed1i T\u00e1c<\/td>\n<td>Th\u1ea5p (15%)<\/td>\n<td>20 kh\u00e1ch h\u00e0ng h\u00e0ng \u0111\u1ea7u chi\u1ebfm 42% doanh thu<\/td>\n<td>X\u1ebfp h\u1ea1ng t\u00edn d\u1ee5ng trung b\u00ecnh BBB trong s\u1ed1 kh\u00e1ch h\u00e0ng, 78% c\u00f3 t\u00e0i s\u1ea3n th\u1ebf ch\u1ea5p t\u00edn d\u1ee5ng<\/td>\n<\/tr>\n<tr>\n<td>Tr\u00ec Ho\u00e3n D\u1ef1 \u00c1n<\/td>\n<td>Trung B\u00ecnh (55%)<\/td>\n<td>1.2 t\u1ef7 \u0111\u00f4 la d\u1ef1 \u00e1n t\u0103ng tr\u01b0\u1edfng \u0111ang ti\u1ebfn h\u00e0nh<\/td>\n<td>Ng\u00e2n s\u00e1ch d\u1ef1 ph\u00f2ng trung b\u00ecnh 15%, ph\u01b0\u01a1ng ph\u00e1p x\u00e2y d\u1ef1ng m\u00f4-\u0111un<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<h2 class='po-article-page__title'>Chi\u1ebfn L\u01b0\u1ee3c \u0110\u1ea7u T\u01b0 Cho V\u1ecb Th\u1ebf C\u1ed5 Phi\u1ebfu ET<\/h2>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Sau khi ph\u00e2n t\u00edch c\u00e2u h\u1ecfi &#8220;&#8221;mua hay b\u00e1n c\u1ed5 phi\u1ebfu ET,&#8221;&#8221; h\u00e3y th\u1ef1c hi\u1ec7n c\u00e1c chi\u1ebfn l\u01b0\u1ee3c c\u1ee5 th\u1ec3 n\u00e0y d\u1ef1a tr\u00ean m\u1ee5c ti\u00eau \u0111\u1ea7u t\u01b0 c\u1ee7a b\u1ea1n. Pocket Option khuy\u1ebfn ngh\u1ecb c\u00e1c ph\u01b0\u01a1ng ph\u00e1p ti\u1ebfp c\u1eadn chi\u1ebfn thu\u1eadt n\u00e0y:<\/p>\n<\/div>\n<div class='po-container po-container_width_article po-article-page__table'>\n<div class='po-table'>\n<table>\n<thead>\n<tr>\n<th>Chi\u1ebfn L\u01b0\u1ee3c<\/th>\n<th>Ph\u01b0\u01a1ng Ph\u00e1p Th\u1ef1c Hi\u1ec7n<\/th>\n<th>K\u1ebft Qu\u1ea3 D\u1ef1 Ki\u1ebfn<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>Thu Ho\u1ea1ch Thu Nh\u1eadp<\/td>\n<td>Mua tr\u01b0\u1edbc ng\u00e0y kh\u00f4ng h\u01b0\u1edfng c\u1ed5 t\u1ee9c (h\u00e0ng qu\u00fd), t\u00e1i \u0111\u1ea7u t\u01b0 50% ph\u00e2n ph\u1ed1i<\/td>\n<td>L\u1ee3i su\u1ea5t c\u01a1 b\u1ea3n 8.4% c\u1ed9ng th\u00eam hi\u1ec7u \u1ee9ng l\u00e3i k\u00e9p 1.7% h\u00e0ng n\u0103m<\/td>\n<\/tr>\n<tr>\n<td>T\u00edch L\u0169y K\u1ef9 Thu\u1eadt<\/td>\n<td>25% v\u1ecb th\u1ebf t\u1ea1i h\u1ed7 tr\u1ee3, th\u00eam 25% khi giao c\u1eaft v\u00e0ng, ho\u00e0n th\u00e0nh v\u1ecb th\u1ebf sau khi v\u01b0\u1ee3t qua k\u1ef3 v\u1ecdng thu nh\u1eadp<\/td>\n<td>Gi\u00e1 v\u00e0o trung b\u00ecnh th\u1ea5p h\u01a1n 5-8% so v\u1edbi trung b\u00ecnh th\u1ecb tr\u01b0\u1eddng<\/td>\n<\/tr>\n<tr>\n<td>Vi\u1ebft Quy\u1ec1n Ch\u1ecdn B\u00e1n<\/td>\n<td>B\u00e1n quy\u1ec1n ch\u1ecdn h\u00e0ng th\u00e1ng cao h\u01a1n 10-12% so v\u1edbi gi\u00e1 hi\u1ec7n t\u1ea1i v\u1edbi th\u1eddi h\u1ea1n 30-45 ng\u00e0y<\/td>\n<td>Th\u00eam 4-6% thu nh\u1eadp h\u00e0ng n\u0103m tr\u00ean c\u00e1c v\u1ecb th\u1ebf hi\u1ec7n c\u00f3<\/td>\n<\/tr>\n<tr>\n<td>Giao D\u1ecbch C\u1eb7p ET\/MMP<\/td>\n<td>Mua d\u00e0i ET\/B\u00e1n ng\u1eafn MMP khi ch\u00eanh l\u1ec7ch v\u01b0\u1ee3t qu\u00e1 2 \u0111\u1ed9 l\u1ec7ch chu\u1ea9n<\/td>\n<td>N\u1eafm b\u1eaft gi\u00e1 tr\u1ecb t\u01b0\u01a1ng \u0111\u1ed1i trong khi gi\u1ea3m thi\u1ec3u ti\u1ebfp x\u00fac ng\u00e0nh<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>V\u00ed d\u1ee5 th\u1ef1c t\u1ebf: N\u0103m 2023, c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 th\u1ef1c hi\u1ec7n t\u00e1i \u0111\u1ea7u t\u01b0 ph\u00e2n ph\u1ed1i c\u00f3 h\u1ec7 th\u1ed1ng trong \u0111\u1ee3t \u0111i\u1ec1u ch\u1ec9nh gi\u00e1 c\u1ee7a ET v\u00e0o th\u00e1ng 2 (khi c\u00e1c \u0111\u01a1n v\u1ecb giao d\u1ecbch \u1edf m\u1ee9c 12.35 \u0111\u00f4 la) \u0111\u00e3 n\u1eafm b\u1eaft \u0111\u01b0\u1ee3c c\u1ea3 s\u1ef1 t\u0103ng gi\u00e1 22% ti\u1ebfp theo v\u00e0 b\u1ed1n ph\u00e2n ph\u1ed1i h\u00e0ng qu\u00fd, \u0111\u1ea1t \u0111\u01b0\u1ee3c t\u1ed5ng l\u1ee3i nhu\u1eadn 31% so v\u1edbi m\u1ee9c trung b\u00ecnh 17% c\u1ee7a ng\u00e0nh.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Khi \u0111\u00e1nh gi\u00e1 li\u1ec7u &#8220;&#8221;ET c\u00f3 ph\u1ea3i l\u00e0 c\u1ed5 phi\u1ebfu t\u1ed1t,&#8221;&#8221; h\u00e3y \u0111i\u1ec1u ch\u1ec9nh chi\u1ebfn l\u01b0\u1ee3c c\u1ee7a b\u1ea1n v\u1edbi c\u00e1c k\u00edch ho\u1ea1t gi\u00e1 c\u1ee5 th\u1ec3 v\u00e0 c\u00e1c ch\u1ec9 s\u1ed1 t\u00e0i ch\u00ednh. V\u00ed d\u1ee5, D\u00f2ng Ti\u1ec1n C\u00f3 Th\u1ec3 Ph\u00e2n Ph\u1ed1i c\u1ee7a ET t\u0103ng trung b\u00ecnh 1.8% cho m\u1ed7i 100,000 th\u00f9ng\/ng\u00e0y t\u0103ng tr\u01b0\u1edfng kh\u1ed1i l\u01b0\u1ee3ng tr\u00ean to\u00e0n h\u1ec7 th\u1ed1ng c\u1ee7a n\u00f3, cung c\u1ea5p m\u1ed1i quan h\u1ec7 \u0111\u1ecbnh l\u01b0\u1ee3ng gi\u1eefa hi\u1ec7u su\u1ea5t ho\u1ea1t \u0111\u1ed9ng v\u00e0 l\u1ee3i nhu\u1eadn \u0111\u1ea7u t\u01b0.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<h2 class='po-article-page__title'>\u0110\u1ed3ng Thu\u1eadn Chuy\u00ean Gia V\u1ec1 Tri\u1ec3n V\u1ecdng C\u1ed5 Phi\u1ebfu ET<\/h2>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>C\u00e1c nh\u00e0 ph\u00e2n t\u00edch Ph\u1ed1 Wall cung c\u1ea5p c\u00e1c \u0111\u00e1nh gi\u00e1 c\u1ee5 th\u1ec3 n\u00e0y cho quy\u1ebft \u0111\u1ecbnh &#8220;&#8221;mua hay b\u00e1n c\u1ed5 phi\u1ebfu ET&#8221;&#8221;:<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Trong s\u1ed1 17 nh\u00e0 ph\u00e2n t\u00edch theo d\u00f5i Energy Transfer, 14 ng\u01b0\u1eddi \u0111\u00e1nh gi\u00e1 &#8220;&#8221;Mua&#8221;&#8221; ho\u1eb7c &#8220;&#8221;Mua M\u1ea1nh&#8221;&#8221; trong khi 3 ng\u01b0\u1eddi duy tr\u00ec \u0111\u00e1nh gi\u00e1 &#8220;&#8221;Gi\u1eef&#8221;&#8221;. M\u1ee5c ti\u00eau gi\u00e1 trung b\u00ecnh 12 th\u00e1ng c\u1ee7a h\u1ecd l\u00e0 18.35 \u0111\u00f4 la, \u0111\u1ea1i di\u1ec7n cho m\u1ee9c t\u0103ng 23% t\u1eeb m\u1ee9c hi\u1ec7n t\u1ea1i. \u0110\u00e1ng ch\u00fa \u00fd nh\u1ea5t l\u00e0 s\u1ef1 \u0111\u1ed3ng thu\u1eadn ch\u1eb7t ch\u1ebd v\u1ec1 t\u00ednh b\u1ec1n v\u1eefng c\u1ee7a ph\u00e2n ph\u1ed1i, v\u1edbi t\u1ea5t c\u1ea3 17 nh\u00e0 ph\u00e2n t\u00edch d\u1ef1 \u0111o\u00e1n t\u1ef7 l\u1ec7 b\u1ea3o hi\u1ec3m ti\u1ebfp t\u1ee5c tr\u00ean 1.5x \u0111\u1ebfn n\u0103m 2026.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Bernstein Research \u0111\u1eb7c bi\u1ec7t nh\u1ea5n m\u1ea1nh ET l\u00e0 b\u1ecb \u0111\u1ecbnh gi\u00e1 th\u1ea5p \u0111\u00e1ng k\u1ec3, l\u01b0u \u00fd r\u1eb1ng b\u1ed9i s\u1ed1 EV\/EBITDA 8.7x c\u1ee7a n\u00f3 th\u1ea5p h\u01a1n m\u1ee9c trung b\u00ecnh 10.2x c\u1ee7a \u0111\u1ed1i th\u1ee7 m\u1eb7c d\u00f9 c\u00f3 c\u00e1c ch\u1ec9 s\u1ed1 t\u0103ng tr\u01b0\u1edfng v\u01b0\u1ee3t tr\u1ed9i. Trong khi \u0111\u00f3, Credit Suisse x\u00e1c \u0111\u1ecbnh d\u1ef1 \u00e1n c\u1ea3ng xu\u1ea5t kh\u1ea9u LNG Lake Charles c\u1ee7a ET l\u00e0 m\u1ed9t ch\u1ea5t x\u00fac t\u00e1c ti\u1ec1m n\u0103ng c\u00f3 th\u1ec3 th\u00eam 1.85 \u0111\u00f4 la m\u1ed7i \u0111\u01a1n v\u1ecb v\u00e0o gi\u00e1 tr\u1ecb n\u1ebfu quy\u1ebft \u0111\u1ecbnh \u0111\u1ea7u t\u01b0 cu\u1ed1i c\u00f9ng di\u1ec5n ra v\u00e0o n\u0103m 2024.<\/p>\n<\/div>\n    <div class=\"po-container po-container_width_article\">\n        <a href=\"\/en\/quick-start\/\" class=\"po-line-banner po-article-page__line-banner\">\n            <svg class=\"svg-image po-line-banner__logo\" fill=\"currentColor\" width=\"auto\" height=\"auto\"\n                 aria-hidden=\"true\">\n                <use href=\"#svg-img-logo-white\"><\/use>\n            <\/svg>\n            <span class=\"po-line-banner__btn\"><\/span>\n        <\/a>\n    <\/div>\n    \n<div class='po-container po-container_width_article-sm'>\n<h2 class='po-article-page__title'>K\u1ebft Lu\u1eadn: \u0110\u01b0a Ra Quy\u1ebft \u0110\u1ecbnh Mua ho\u1eb7c B\u00e1n C\u1ed5 Phi\u1ebfu ET<\/h2>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Quy\u1ebft \u0111\u1ecbnh &#8220;&#8221;mua hay b\u00e1n c\u1ed5 phi\u1ebfu ET&#8221;&#8221; cu\u1ed1i c\u00f9ng d\u1ef1a tr\u00ean nh\u1eefng ph\u00e1t hi\u1ec7n ch\u00ednh n\u00e0y:<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>ET cung c\u1ea5p c\u00e1c ch\u1ec9 s\u1ed1 gi\u00e1 tr\u1ecb h\u1ea5p d\u1eabn v\u1edbi l\u1ee3i su\u1ea5t ph\u00e2n ph\u1ed1i 8.4% \u0111\u01b0\u1ee3c h\u1ed7 tr\u1ee3 b\u1edfi t\u1ef7 l\u1ec7 b\u1ea3o hi\u1ec3m 1.7x v\u00e0 b\u1ed9i s\u1ed1 EV\/EBITDA 8.7x th\u1ea5p h\u01a1n 26% so v\u1edbi trung b\u00ecnh 5 n\u0103m c\u1ee7a n\u00f3. V\u1ecb tr\u00ed chi\u1ebfn l\u01b0\u1ee3c c\u1ee7a c\u00f4ng ty trong c\u00e1c h\u00e0nh lang n\u0103ng l\u01b0\u1ee3ng t\u0103ng tr\u01b0\u1edfng cao nh\u01b0 L\u01b0u V\u1ef1c Permian v\u00e0 c\u00e1c c\u01a1 s\u1edf xu\u1ea5t kh\u1ea9u V\u1ecbnh Mexico cung c\u1ea5p c\u00e1c ch\u1ea5t x\u00fac t\u00e1c t\u0103ng tr\u01b0\u1edfng kh\u1ed1i l\u01b0\u1ee3ng h\u1eefu h\u00ecnh.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>Tuy nhi\u00ean, c\u00e1c th\u00e1ch th\u1ee9c quy \u0111\u1ecbnh bao g\u1ed3m ki\u1ec7n t\u1ee5ng \u0111\u01b0\u1eddng \u1ed1ng \u0111ang di\u1ec5n ra v\u00e0 quy \u0111\u1ecbnh v\u1ec1 kh\u00ed th\u1ea3i methane tr\u00ecnh b\u00e0y c\u00e1c r\u1ee7i ro v\u1eadt ch\u1ea5t c\u1ea7n \u0111\u01b0\u1ee3c gi\u00e1m s\u00e1t c\u1ea9n th\u1eadn. M\u1ee9c n\u1ee3 c\u1ee7a ET, m\u1eb7c d\u00f9 \u0111\u00e3 c\u1ea3i thi\u1ec7n t\u1eeb 5.1x xu\u1ed1ng 4.3x EBITDA trong 24 th\u00e1ng, v\u1eabn c\u1ea7n ti\u1ebfn b\u1ed9 h\u01a1n n\u1eefa \u0111\u1ec3 \u0111\u1ea1t \u0111\u01b0\u1ee3c m\u1ee5c ti\u00eau 4.0x c\u1ee7a ban qu\u1ea3n l\u00fd.<\/p>\n<\/div>\n<div class='po-container po-container_width_article-sm'>\n<p class='po-article-page__text'>C\u00e1c c\u00f4ng c\u1ee5 ph\u00e2n t\u00edch c\u1ee7a Pocket Option gi\u00fap c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 theo d\u00f5i c\u00e1c ch\u1ec9 s\u1ed1 c\u1ee5 th\u1ec3 n\u00e0y v\u00e0 \u0111i\u1ec1u ch\u1ec9nh c\u00e1c v\u1ecb th\u1ebf ET cho ph\u00f9 h\u1ee3p. C\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 th\u00e0nh c\u00f4ng trong l\u0129nh v\u1ef1c n\u00e0y k\u1ebft h\u1ee3p c\u00e1c \u0111i\u1ec3m v\u00e0o d\u1ef1a tr\u00ean \u0111\u1ecbnh gi\u00e1 v\u1edbi c\u00e1c t\u00edn hi\u1ec7u x\u00e1c nh\u1eadn k\u1ef9 thu\u1eadt, t\u1ea1o ra m\u1ed9t khung k\u1ef7 lu\u1eadt \u0111\u1ec3 n\u1eafm b\u1eaft c\u1ea3 c\u01a1 h\u1ed9i thu nh\u1eadp v\u00e0 t\u0103ng gi\u00e1 v\u1ed1n trong nh\u00e0 l\u00e3nh \u0111\u1ea1o n\u0103ng l\u01b0\u1ee3ng trung l\u01b0u n\u00e0y.<\/p>\n<\/div>\n"},"faq":[{"question":"Nh\u1eefng ch\u1ec9 s\u1ed1 t\u00e0i ch\u00ednh quan tr\u1ecdng n\u00e0o t\u00f4i n\u00ean theo d\u00f5i khi quy\u1ebft \u0111\u1ecbnh li\u1ec7u c\u1ed5 phi\u1ebfu ET c\u00f3 n\u00ean mua hay kh\u00f4ng?","answer":"T\u1eadp trung v\u00e0o c\u00e1c ch\u1ec9 s\u1ed1 ET c\u1ee5 th\u1ec3 n\u00e0y: d\u00f2ng ti\u1ec1n c\u00f3 th\u1ec3 ph\u00e2n ph\u1ed1i (hi\u1ec7n t\u1ea1i l\u00e0 2,1 t\u1ef7 USD h\u00e0ng qu\u00fd), t\u1ef7 l\u1ec7 bao ph\u1ee7 ph\u00e2n ph\u1ed1i (1,7x so v\u1edbi ng\u01b0\u1ee1ng t\u1ed1i thi\u1ec3u 1,2x), t\u1ef7 l\u1ec7 n\u1ee3 tr\u00ean EBITDA (4,3x \u0111ang c\u1ea3i thi\u1ec7n h\u01b0\u1edbng t\u1edbi m\u1ee5c ti\u00eau 4,0x), v\u00e0 t\u0103ng tr\u01b0\u1edfng kh\u1ed1i l\u01b0\u1ee3ng tr\u00ean c\u00e1c ph\u00e2n kh\u00fac (kh\u1ed1i l\u01b0\u1ee3ng NGL +15% so v\u1edbi c\u00f9ng k\u1ef3 n\u0103m tr\u01b0\u1edbc). Ph\u00e2n t\u00edch c\u1ee7a Pocket Option cho th\u1ea5y s\u1ef1 gia t\u0103ng kh\u1ed1i l\u01b0\u1ee3ng c\u00f3 m\u1ed1i t\u01b0\u01a1ng quan tr\u1ef1c ti\u1ebfp v\u1edbi hi\u1ec7u su\u1ea5t t\u00e0i ch\u00ednh - m\u1ed7i l\u1ea7n t\u0103ng 100.000 th\u00f9ng\/ng\u00e0y th\u01b0\u1eddng t\u1ea1o ra t\u0103ng tr\u01b0\u1edfng DCF 1,8%."},{"question":"M\u00f4i tr\u01b0\u1eddng l\u00e3i su\u1ea5t hi\u1ec7n t\u1ea1i \u1ea3nh h\u01b0\u1edfng nh\u01b0 th\u1ebf n\u00e0o \u0111\u1ebfn s\u1ef1 h\u1ea5p d\u1eabn c\u1ee7a c\u1ed5 phi\u1ebfu ET?","answer":"V\u1edbi 72% n\u1ee3 l\u00e3i su\u1ea5t c\u1ed1 \u0111\u1ecbnh v\u00e0 th\u1eddi gian \u0111\u00e1o h\u1ea1n trung b\u00ecnh 8,3 n\u0103m, ET ph\u1ea3i \u0111\u1ed1i m\u1eb7t v\u1edbi chi ph\u00ed l\u00e3i su\u1ea5t b\u1ed5 sung 145 tri\u1ec7u \u0111\u00f4 la h\u00e0ng n\u0103m cho m\u1ed7i l\u1ea7n t\u0103ng 1% l\u00e3i su\u1ea5t tr\u00ean n\u1ee3 th\u1ea3 n\u1ed5i. Tuy nhi\u00ean, l\u1ee3i su\u1ea5t ph\u00e2n ph\u1ed1i 8,4% c\u1ee7a ET cung c\u1ea5p m\u1ee9c ch\u00eanh l\u1ec7ch 4,3% so v\u1edbi tr\u00e1i phi\u1ebfu kho b\u1ea1c 10 n\u0103m, l\u00e0m cho n\u00f3 t\u01b0\u01a1ng \u0111\u1ed1i h\u1ea5p d\u1eabn trong m\u00f4i tr\u01b0\u1eddng l\u00e3i su\u1ea5t hi\u1ec7n t\u1ea1i. C\u00e1c ch\u1ec9 s\u1ed1 n\u1ee3 \u0111\u01b0\u1ee3c c\u1ea3i thi\u1ec7n c\u1ee7a c\u00f4ng ty (4,3x EBITDA so v\u1edbi 5,1x hai n\u0103m tr\u01b0\u1edbc) \u0111\u00e3 gi\u1ea3m r\u1ee7i ro t\u00e1i c\u1ea5p v\u1ed1n m\u1eb7c d\u00f9 l\u00e3i su\u1ea5t hi\u1ec7n h\u00e0nh cao h\u01a1n."},{"question":"Nh\u1eefng ch\u1ec9 b\u00e1o k\u1ef9 thu\u1eadt n\u00e0o cung c\u1ea5p t\u00edn hi\u1ec7u mua ho\u1eb7c b\u00e1n c\u1ed5 phi\u1ebfu ET \u0111\u00e1ng tin c\u1eady nh\u1ea5t?","answer":"C\u1ed5 phi\u1ebfu ET ph\u1ea3n \u1ee9ng nh\u1ea5t qu\u00e1n v\u1edbi ba t\u00edn hi\u1ec7u k\u1ef9 thu\u1eadt: 1) Ki\u1ec3m tra \u0111\u01b0\u1eddng trung b\u00ecnh \u0111\u1ed9ng 200 ng\u00e0y (hi\u1ec7n t\u1ea1i l\u00e0 $13.65) \u0111\u00e3 t\u1ea1o ra s\u1ef1 ph\u1ee5c h\u1ed3i trong 7 tr\u00ean 8 tr\u01b0\u1eddng h\u1ee3p k\u1ec3 t\u1eeb n\u0103m 2022; 2) Ch\u1ec9 s\u1ed1 RSI d\u01b0\u1edbi 35 \u0111\u00e3 b\u00e1o tr\u01b0\u1edbc b\u1ed1n \u0111\u1ee3t t\u0103ng trung b\u00ecnh 12.3% trong giai \u0111o\u1ea1n 2023-2024; v\u00e0 3) S\u1ef1 gia t\u0103ng kh\u1ed1i l\u01b0\u1ee3ng v\u01b0\u1ee3t qu\u00e1 2 l\u1ea7n trung b\u00ecnh v\u00e0o nh\u1eefng ng\u00e0y gi\u1ea3m th\u01b0\u1eddng \u0111\u00e1nh d\u1ea5u \u0111\u00e1y \u0111\u1ea7u h\u00e0ng. C\u00f4ng c\u1ee5 Pocket Option \u0111\u00e3 x\u00e1c \u0111\u1ecbnh s\u1ef1 h\u00ecnh th\u00e0nh giao c\u1eaft v\u00e0ng v\u00e0o ng\u00e0y 8 th\u00e1ng 2 n\u0103m 2024, tr\u01b0\u1edbc m\u1ed9t \u0111\u1ee3t t\u0103ng 7.8%."},{"question":"M\u00f4 h\u00ecnh kinh doanh c\u1ee7a ET kh\u00e1c bi\u1ec7t nh\u01b0 th\u1ebf n\u00e0o so v\u1edbi c\u00e1c c\u1ed5 phi\u1ebfu n\u0103ng l\u01b0\u1ee3ng kh\u00e1c?","answer":"ET v\u1eadn h\u00e0nh m\u1ed9t doanh nghi\u1ec7p h\u1ea1 t\u1ea7ng trung gian v\u1edbi 85-90% doanh thu d\u1ef1a tr\u00ean ph\u00ed, kh\u00e1c bi\u1ec7t c\u01a1 b\u1ea3n so v\u1edbi c\u00e1c c\u00f4ng ty th\u0103m d\u00f2 tr\u1ef1c ti\u1ebfp ch\u1ecbu \u1ea3nh h\u01b0\u1edfng t\u1eeb gi\u00e1 h\u00e0ng h\u00f3a. Kh\u00f4ng gi\u1ed1ng nh\u01b0 c\u00e1c c\u00f4ng ty ti\u1ec7n \u00edch v\u1edbi l\u1ee3i nhu\u1eadn \u0111\u01b0\u1ee3c \u0111i\u1ec1u ch\u1ec9nh, ET c\u00f3 th\u1ec3 n\u1eafm b\u1eaft t\u0103ng tr\u01b0\u1edfng h\u1eefu c\u01a1 th\u00f4ng qua c\u1ea3i thi\u1ec7n vi\u1ec7c s\u1eed d\u1ee5ng t\u00e0i s\u1ea3n hi\u1ec7n c\u00f3. C\u01a1 s\u1edf t\u00e0i s\u1ea3n \u0111a d\u1ea1ng c\u1ee7a ET tr\u1ea3i d\u00e0i t\u1eeb kh\u00ed t\u1ef1 nhi\u00ean (42% EBITDA), NGLs (38%), d\u1ea7u th\u00f4 (15%), v\u00e0 s\u1ea3n ph\u1ea9m tinh ch\u1ebf (5%), cung c\u1ea5p s\u1ef1 \u1ed5n \u0111\u1ecbnh l\u1edbn h\u01a1n so v\u1edbi c\u00e1c nh\u00e0 v\u1eadn h\u00e0nh \u0111\u01a1n h\u00e0ng h\u00f3a trong khi duy tr\u00ec ti\u1ec1m n\u0103ng t\u0103ng tr\u01b0\u1edfng cao h\u01a1n so v\u1edbi c\u00e1c c\u00f4ng ty ti\u1ec7n \u00edch \u0111\u01b0\u1ee3c \u0111i\u1ec1u ch\u1ec9nh."},{"question":"Nh\u1eefng y\u1ebfu t\u1ed1 n\u00e0o quy\u1ebft \u0111\u1ecbnh t\u00ednh b\u1ec1n v\u1eefng c\u1ee7a ph\u00e2n ph\u1ed1i ET?","answer":"S\u1ef1 b\u1ec1n v\u1eefng c\u1ee7a ph\u00e2n ph\u1ed1i ET d\u1ef1a tr\u00ean b\u1ed1n ch\u1ec9 s\u1ed1 \u0111\u1ecbnh l\u01b0\u1ee3ng: 1) T\u1ef7 l\u1ec7 bao ph\u1ee7 hi\u1ec7n t\u1ea1i 1.7x cung c\u1ea5p \u0111\u1ec7m 42% tr\u00ean m\u1ee9c y\u00eau c\u1ea7u t\u1ed1i thi\u1ec3u; 2) T\u1ef7 l\u1ec7 N\u1ee3 tr\u00ean EBITDA c\u1ea3i thi\u1ec7n t\u1eeb 5.1x xu\u1ed1ng 4.3x trong 24 th\u00e1ng; 3) 85-90% d\u00f2ng ti\u1ec1n d\u1ef1a tr\u00ean ph\u00ed b\u1ea3o v\u1ec7 kh\u1ecfi s\u1ef1 bi\u1ebfn \u0111\u1ed9ng h\u00e0ng h\u00f3a; v\u00e0 4) D\u1ef1 \u00e1n t\u0103ng tr\u01b0\u1edfng t\u1ed3n \u0111\u1ecdng tr\u1ecb gi\u00e1 3.25 t\u1ef7 USD d\u1ef1 ki\u1ebfn s\u1ebd t\u0103ng th\u00eam 11% v\u00e0o EBITDA v\u00e0o n\u0103m 2026. Ph\u00e2n t\u00edch c\u1ee7a Pocket Option ch\u1ec9 ra r\u1eb1ng ph\u00e2n ph\u1ed1i c\u1ee7a ET l\u00e0 b\u1ec1n v\u1eefng ngay c\u1ea3 khi DCF gi\u1ea3m 35% - m\u1ed9t k\u1ecbch b\u1ea3n ch\u01b0a t\u1eebng x\u1ea3y ra ngay c\u1ea3 trong \u0111\u1ea1i d\u1ecbch 2020 khi kh\u1ed1i l\u01b0\u1ee3ng ch\u1ec9 gi\u1ea3m 12%."}],"faq_source":{"label":"FAQ","type":"repeater","formatted_value":[{"question":"Nh\u1eefng ch\u1ec9 s\u1ed1 t\u00e0i ch\u00ednh quan tr\u1ecdng n\u00e0o t\u00f4i n\u00ean theo d\u00f5i khi quy\u1ebft \u0111\u1ecbnh li\u1ec7u c\u1ed5 phi\u1ebfu ET c\u00f3 n\u00ean mua hay kh\u00f4ng?","answer":"T\u1eadp trung v\u00e0o c\u00e1c ch\u1ec9 s\u1ed1 ET c\u1ee5 th\u1ec3 n\u00e0y: d\u00f2ng ti\u1ec1n c\u00f3 th\u1ec3 ph\u00e2n ph\u1ed1i (hi\u1ec7n t\u1ea1i l\u00e0 2,1 t\u1ef7 USD h\u00e0ng qu\u00fd), t\u1ef7 l\u1ec7 bao ph\u1ee7 ph\u00e2n ph\u1ed1i (1,7x so v\u1edbi ng\u01b0\u1ee1ng t\u1ed1i thi\u1ec3u 1,2x), t\u1ef7 l\u1ec7 n\u1ee3 tr\u00ean EBITDA (4,3x \u0111ang c\u1ea3i thi\u1ec7n h\u01b0\u1edbng t\u1edbi m\u1ee5c ti\u00eau 4,0x), v\u00e0 t\u0103ng tr\u01b0\u1edfng kh\u1ed1i l\u01b0\u1ee3ng tr\u00ean c\u00e1c ph\u00e2n kh\u00fac (kh\u1ed1i l\u01b0\u1ee3ng NGL +15% so v\u1edbi c\u00f9ng k\u1ef3 n\u0103m tr\u01b0\u1edbc). Ph\u00e2n t\u00edch c\u1ee7a Pocket Option cho th\u1ea5y s\u1ef1 gia t\u0103ng kh\u1ed1i l\u01b0\u1ee3ng c\u00f3 m\u1ed1i t\u01b0\u01a1ng quan tr\u1ef1c ti\u1ebfp v\u1edbi hi\u1ec7u su\u1ea5t t\u00e0i ch\u00ednh - m\u1ed7i l\u1ea7n t\u0103ng 100.000 th\u00f9ng\/ng\u00e0y th\u01b0\u1eddng t\u1ea1o ra t\u0103ng tr\u01b0\u1edfng DCF 1,8%."},{"question":"M\u00f4i tr\u01b0\u1eddng l\u00e3i su\u1ea5t hi\u1ec7n t\u1ea1i \u1ea3nh h\u01b0\u1edfng nh\u01b0 th\u1ebf n\u00e0o \u0111\u1ebfn s\u1ef1 h\u1ea5p d\u1eabn c\u1ee7a c\u1ed5 phi\u1ebfu ET?","answer":"V\u1edbi 72% n\u1ee3 l\u00e3i su\u1ea5t c\u1ed1 \u0111\u1ecbnh v\u00e0 th\u1eddi gian \u0111\u00e1o h\u1ea1n trung b\u00ecnh 8,3 n\u0103m, ET ph\u1ea3i \u0111\u1ed1i m\u1eb7t v\u1edbi chi ph\u00ed l\u00e3i su\u1ea5t b\u1ed5 sung 145 tri\u1ec7u \u0111\u00f4 la h\u00e0ng n\u0103m cho m\u1ed7i l\u1ea7n t\u0103ng 1% l\u00e3i su\u1ea5t tr\u00ean n\u1ee3 th\u1ea3 n\u1ed5i. Tuy nhi\u00ean, l\u1ee3i su\u1ea5t ph\u00e2n ph\u1ed1i 8,4% c\u1ee7a ET cung c\u1ea5p m\u1ee9c ch\u00eanh l\u1ec7ch 4,3% so v\u1edbi tr\u00e1i phi\u1ebfu kho b\u1ea1c 10 n\u0103m, l\u00e0m cho n\u00f3 t\u01b0\u01a1ng \u0111\u1ed1i h\u1ea5p d\u1eabn trong m\u00f4i tr\u01b0\u1eddng l\u00e3i su\u1ea5t hi\u1ec7n t\u1ea1i. C\u00e1c ch\u1ec9 s\u1ed1 n\u1ee3 \u0111\u01b0\u1ee3c c\u1ea3i thi\u1ec7n c\u1ee7a c\u00f4ng ty (4,3x EBITDA so v\u1edbi 5,1x hai n\u0103m tr\u01b0\u1edbc) \u0111\u00e3 gi\u1ea3m r\u1ee7i ro t\u00e1i c\u1ea5p v\u1ed1n m\u1eb7c d\u00f9 l\u00e3i su\u1ea5t hi\u1ec7n h\u00e0nh cao h\u01a1n."},{"question":"Nh\u1eefng ch\u1ec9 b\u00e1o k\u1ef9 thu\u1eadt n\u00e0o cung c\u1ea5p t\u00edn hi\u1ec7u mua ho\u1eb7c b\u00e1n c\u1ed5 phi\u1ebfu ET \u0111\u00e1ng tin c\u1eady nh\u1ea5t?","answer":"C\u1ed5 phi\u1ebfu ET ph\u1ea3n \u1ee9ng nh\u1ea5t qu\u00e1n v\u1edbi ba t\u00edn hi\u1ec7u k\u1ef9 thu\u1eadt: 1) Ki\u1ec3m tra \u0111\u01b0\u1eddng trung b\u00ecnh \u0111\u1ed9ng 200 ng\u00e0y (hi\u1ec7n t\u1ea1i l\u00e0 $13.65) \u0111\u00e3 t\u1ea1o ra s\u1ef1 ph\u1ee5c h\u1ed3i trong 7 tr\u00ean 8 tr\u01b0\u1eddng h\u1ee3p k\u1ec3 t\u1eeb n\u0103m 2022; 2) Ch\u1ec9 s\u1ed1 RSI d\u01b0\u1edbi 35 \u0111\u00e3 b\u00e1o tr\u01b0\u1edbc b\u1ed1n \u0111\u1ee3t t\u0103ng trung b\u00ecnh 12.3% trong giai \u0111o\u1ea1n 2023-2024; v\u00e0 3) S\u1ef1 gia t\u0103ng kh\u1ed1i l\u01b0\u1ee3ng v\u01b0\u1ee3t qu\u00e1 2 l\u1ea7n trung b\u00ecnh v\u00e0o nh\u1eefng ng\u00e0y gi\u1ea3m th\u01b0\u1eddng \u0111\u00e1nh d\u1ea5u \u0111\u00e1y \u0111\u1ea7u h\u00e0ng. C\u00f4ng c\u1ee5 Pocket Option \u0111\u00e3 x\u00e1c \u0111\u1ecbnh s\u1ef1 h\u00ecnh th\u00e0nh giao c\u1eaft v\u00e0ng v\u00e0o ng\u00e0y 8 th\u00e1ng 2 n\u0103m 2024, tr\u01b0\u1edbc m\u1ed9t \u0111\u1ee3t t\u0103ng 7.8%."},{"question":"M\u00f4 h\u00ecnh kinh doanh c\u1ee7a ET kh\u00e1c bi\u1ec7t nh\u01b0 th\u1ebf n\u00e0o so v\u1edbi c\u00e1c c\u1ed5 phi\u1ebfu n\u0103ng l\u01b0\u1ee3ng kh\u00e1c?","answer":"ET v\u1eadn h\u00e0nh m\u1ed9t doanh nghi\u1ec7p h\u1ea1 t\u1ea7ng trung gian v\u1edbi 85-90% doanh thu d\u1ef1a tr\u00ean ph\u00ed, kh\u00e1c bi\u1ec7t c\u01a1 b\u1ea3n so v\u1edbi c\u00e1c c\u00f4ng ty th\u0103m d\u00f2 tr\u1ef1c ti\u1ebfp ch\u1ecbu \u1ea3nh h\u01b0\u1edfng t\u1eeb gi\u00e1 h\u00e0ng h\u00f3a. Kh\u00f4ng gi\u1ed1ng nh\u01b0 c\u00e1c c\u00f4ng ty ti\u1ec7n \u00edch v\u1edbi l\u1ee3i nhu\u1eadn \u0111\u01b0\u1ee3c \u0111i\u1ec1u ch\u1ec9nh, ET c\u00f3 th\u1ec3 n\u1eafm b\u1eaft t\u0103ng tr\u01b0\u1edfng h\u1eefu c\u01a1 th\u00f4ng qua c\u1ea3i thi\u1ec7n vi\u1ec7c s\u1eed d\u1ee5ng t\u00e0i s\u1ea3n hi\u1ec7n c\u00f3. C\u01a1 s\u1edf t\u00e0i s\u1ea3n \u0111a d\u1ea1ng c\u1ee7a ET tr\u1ea3i d\u00e0i t\u1eeb kh\u00ed t\u1ef1 nhi\u00ean (42% EBITDA), NGLs (38%), d\u1ea7u th\u00f4 (15%), v\u00e0 s\u1ea3n ph\u1ea9m tinh ch\u1ebf (5%), cung c\u1ea5p s\u1ef1 \u1ed5n \u0111\u1ecbnh l\u1edbn h\u01a1n so v\u1edbi c\u00e1c nh\u00e0 v\u1eadn h\u00e0nh \u0111\u01a1n h\u00e0ng h\u00f3a trong khi duy tr\u00ec ti\u1ec1m n\u0103ng t\u0103ng tr\u01b0\u1edfng cao h\u01a1n so v\u1edbi c\u00e1c c\u00f4ng ty ti\u1ec7n \u00edch \u0111\u01b0\u1ee3c \u0111i\u1ec1u ch\u1ec9nh."},{"question":"Nh\u1eefng y\u1ebfu t\u1ed1 n\u00e0o quy\u1ebft \u0111\u1ecbnh t\u00ednh b\u1ec1n v\u1eefng c\u1ee7a ph\u00e2n ph\u1ed1i ET?","answer":"S\u1ef1 b\u1ec1n v\u1eefng c\u1ee7a ph\u00e2n ph\u1ed1i ET d\u1ef1a tr\u00ean b\u1ed1n ch\u1ec9 s\u1ed1 \u0111\u1ecbnh l\u01b0\u1ee3ng: 1) T\u1ef7 l\u1ec7 bao ph\u1ee7 hi\u1ec7n t\u1ea1i 1.7x cung c\u1ea5p \u0111\u1ec7m 42% tr\u00ean m\u1ee9c y\u00eau c\u1ea7u t\u1ed1i thi\u1ec3u; 2) T\u1ef7 l\u1ec7 N\u1ee3 tr\u00ean EBITDA c\u1ea3i thi\u1ec7n t\u1eeb 5.1x xu\u1ed1ng 4.3x trong 24 th\u00e1ng; 3) 85-90% d\u00f2ng ti\u1ec1n d\u1ef1a tr\u00ean ph\u00ed b\u1ea3o v\u1ec7 kh\u1ecfi s\u1ef1 bi\u1ebfn \u0111\u1ed9ng h\u00e0ng h\u00f3a; v\u00e0 4) D\u1ef1 \u00e1n t\u0103ng tr\u01b0\u1edfng t\u1ed3n \u0111\u1ecdng tr\u1ecb gi\u00e1 3.25 t\u1ef7 USD d\u1ef1 ki\u1ebfn s\u1ebd t\u0103ng th\u00eam 11% v\u00e0o EBITDA v\u00e0o n\u0103m 2026. Ph\u00e2n t\u00edch c\u1ee7a Pocket Option ch\u1ec9 ra r\u1eb1ng ph\u00e2n ph\u1ed1i c\u1ee7a ET l\u00e0 b\u1ec1n v\u1eefng ngay c\u1ea3 khi DCF gi\u1ea3m 35% - m\u1ed9t k\u1ecbch b\u1ea3n ch\u01b0a t\u1eebng x\u1ea3y ra ngay c\u1ea3 trong \u0111\u1ea1i d\u1ecbch 2020 khi kh\u1ed1i l\u01b0\u1ee3ng ch\u1ec9 gi\u1ea3m 12%."}]}},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.8 (Yoast SEO v27.2) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Mua ho\u1eb7c B\u00e1n C\u1ed5 phi\u1ebfu ET: Ph\u00e2n T\u00edch Chuy\u00ean Gia cho Quy\u1ebft \u0110\u1ecbnh \u0110\u1ea7u T\u01b0 Chi\u1ebfn L\u01b0\u1ee3c<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pocketoption.com\/blog\/vt\/interesting\/trading-strategies\/et-stock-buy-or-sell\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" 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