Value Traps or Dirt Cheap Value Stocks? 8 Stocks That Look Extremely Cheap on Paper

5. Energy Transfer LP (NYSE:ET)

Median Upside as of July 26: 30%

Forward P/E Ratio: 13.24

Forward EPS Growth (1Y): 13.52%

Number of Hedge Fund Holders: 36

Energy Transfer LP (NYSE:ET) is one of the stocks that look extremely cheap on paper. On July 7, 2025, TD Cowen’s analyst Jason Gabelman initiated coverage with a Buy rating and set a $22.00 price target, implying about +23% upside from the mid‑$17 current level. That marks fresh enthusiasm entering the space — Cowen sees ET as undervalued in a midstream oil & gas environment where pipeline cash flows remain resilient, especially with steadily improving demand for NGL exports and increasing fee-based income.

This rating comes alongside other bullish commentary this summer: Mizuho had previously boosted its target to $23 while maintaining an Outperform call in May but Cowen’s is special because it’s a new coverage entry based entirely in July, making it timely and likely based on recent strategic insights.

Energy Transfer LP (NYSE:ET) is a Dallas‑based U.S. midstream heavyweight with ~125,000 miles of pipeline serving gas, NGLs, oil, refined products, and LNG markets.