Symbols / ET $19.07 +0.58% Energy Transfer LP

Energy • Oil & Gas Midstream • United States • NYQ
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About

Energy Transfer LP, together with its subsidiaries, provides energy-related services in the United States. It operates through Intrastate Transportation and Storage; Interstate Transportation and Storage; Midstream; Natural Gas Liquid (NGL) and Refined Products Transportation and Services; Crude Oil Transportation and Services; Investment in Sunoco LP; Investment in USA Compression Partners, LP (USAC); and All Other segments. The company owns and operates natural gas transportation pipelines and storage facilities; and approximately 12,200 miles of intrastate natural gas transportation pipelines and 20,090 miles of interstate natural gas pipelines. It also sells natural gas to electric utilities, independent power plants, local distribution and other marketing companies, and industrial end-users. In addition, the company owns and operates natural gas gathering pipelines, processing plants, and treating and conditioning facilities; and natural gas gathering, compression, treating, dehydration and processing, oil pipeline facilities. Further, it owns 5,700 miles of NGL pipelines; NGL fractionation and storage facilities; and other NGL storage assets and terminals. Additionally, the company provides crude oil transportation, terminalling, trucking, acquisition, and marketing activities; owns and operates approximately 18,000 miles of crude oil trunk and gathering pipelines; and sells and distributes motor fuels and other petroleum products under the Sunoco and EcoMaxx brands. It also offers natural gas compression; wholesale power trading; and carbon dioxide and hydrogen sulfide removal services, as well as management of coal and natural resources properties; sells standing timber; leases coal-related infrastructure facilities; and collects oil and gas royalties. The company was formerly known as Energy Transfer Equity, L.P. and changed its name to Energy Transfer LP in October 2018. Energy Transfer LP was founded in 1996 and is headquartered in Dallas, Texas.

Fundamentals
Scroll to Statements
Market Cap 65.61B Enterprise Value 152.68B Income 4.17B Sales 85.54B Book/sh 9.02 Cash/sh 0.37
Dividend Yield 6.99% Payout 108.68% Employees 22311 IPO — P/E 15.76 Forward P/E 12.09
PEG 0.69 P/S 0.77 P/B 2.12 P/C — EV/EBITDA 10.18 EV/Sales 1.78
Quick Ratio 0.85 Current Ratio 1.22 Debt/Eq 142.29 LT Debt/Eq — EPS (ttm) 1.21 EPS next Y 1.58
EPS Growth -15.20% Revenue Growth 29.60% Earnings 2026-05-05 ROA 4.36% ROE 11.93% ROIC —
Gross Margin 19.18% Oper. Margin 9.29% Profit Margin 5.18% Shs Outstand 3.44B Shs Float 3.09B Short Float 0.99%
Short Ratio 2.01 Short Interest — 52W High 19.86 52W Low 15.80 Beta 0.62 Avg Volume 16.21M
Volume 7.15M Target Price $22.21 Recom Buy Prev Close $18.96 Price $19.07 Change 0.58%
Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus
$22.21
Mean price target
2. Current target
$19.07
Latest analyst target
3. DCF / Fair value
$11.56
Simplified: (Free Cash Flow ÷ Shares) × 18 (P/FCF multiple). Not a …
Ratings
Current target
$19.07
Low
$19.50
High
$25.00
Mean
$22.21

Latest analyst rating changes

Date Action Analyst Rating Change Price Target
2026-03-24 init Truist Securities — → Buy $23
2026-03-13 main Wells Fargo Overweight → Overweight $25
2026-03-10 main Morgan Stanley Equal-Weight → Equal-Weight $21
2026-01-12 main Barclays Overweight → Overweight $22
2025-12-18 down Morgan Stanley Overweight → Equal-Weight $19
2025-12-02 main Morgan Stanley Overweight → Overweight $19
2025-11-24 main JP Morgan Overweight → Overweight $21
2025-11-13 main Scotiabank Sector Outperform → Sector Outperform $21
2025-10-15 main Barclays Overweight → Overweight $25
2025-10-15 reit UBS Buy → Buy $22
2025-09-02 init Scotiabank — → Sector Outperform $23
2025-08-26 main Morgan Stanley Overweight → Overweight $23
2025-08-12 main Wells Fargo Overweight → Overweight $23
2025-05-20 main Mizuho Outperform → Outperform $23
2025-05-19 main JP Morgan Overweight → Overweight $23
2025-05-07 main Wells Fargo Overweight → Overweight $21
2025-04-29 main Mizuho Outperform → Outperform $22
2025-03-25 reit RBC Capital Outperform → Outperform $23
2025-03-25 main Morgan Stanley Overweight → Overweight $26
2025-02-25 main Citigroup Buy → Buy $22
News
RSS: Latest ET news
Insider Transactions
Filed Date Insider Relationship Transaction Shares Price Value SEC
2026-01-02 RAMSEY MATTHEW S Director — 7,423 $0.00 $0
2026-01-02 ANDERSON STEVEN R. Director — 7,423 $0.00 $0
2026-01-02 PERRY JAMES RICHARD Director — 7,423 $0.00 $0
2026-01-02 MCREYNOLDS JOHN W Director — 7,423 $0.00 $0
2026-01-02 GRIMM MICHAEL K Director — 7,423 $0.00 $0
2025-12-05 STURROCK TROY ADEN Officer — 56,775 $0.00 $0
2025-12-05 WRIGHT JAMES M JR General Counsel — 180,375 $0.00 $0
2025-12-05 BRAMHALL DYLAN Chief Financial Officer — 200,438 $0.00 $0
2025-12-05 MCCREA MARSHALL S III Chief Executive Officer — 704,438 $0.00 $0
2025-12-05 LONG THOMAS E Chief Executive Officer — 704,438 $0.00 $0
Financials
Statement View
Amounts in millions (2 decimals, no suffix) • EPS per share (2 decimals) • Trend = period evolution • YoY Growth = previous period %
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Total Revenue
85,536.00
+3.47%
82,671.00
+5.20%
78,586.00
-12.56%
89,876.00
Operating Revenue
83,814.00
+3.11%
81,288.00
+4.85%
77,525.00
-12.94%
89,049.00
Cost Of Revenue
69,177.00
+3.03%
67,140.00
+3.41%
64,926.00
-15.01%
76,396.00
Reconciled Cost Of Revenue
69,177.00
+3.03%
67,140.00
+3.41%
64,926.00
-15.01%
76,396.00
Gross Profit
16,359.00
+5.33%
15,531.00
+13.70%
13,660.00
+1.34%
13,480.00
Operating Expense
7,047.00
+11.13%
6,341.00
+18.46%
5,353.00
-0.06%
5,356.00
Selling General And Administration
1,180.00
+0.25%
1,177.00
+19.49%
985.00
-3.24%
1,018.00
Other Operating Expenses
5,867.00
+13.61%
5,164.00
+18.22%
4,368.00
+0.69%
4,338.00
Total Expenses
76,224.00
+3.73%
73,481.00
+4.56%
70,279.00
-14.03%
81,752.00
Operating Income
9,312.00
+1.33%
9,190.00
+10.63%
8,307.00
+2.25%
8,124.00
Total Operating Income As Reported
9,027.00
-1.21%
9,138.00
+10.16%
8,295.00
+7.20%
7,738.00
EBITDA
15,214.00
-1.18%
15,396.00
+22.58%
12,560.00
+0.14%
12,542.00
Normalized EBITDA
15,533.00
+4.43%
14,874.00
+12.71%
13,197.00
+4.45%
12,635.00
Reconciled Depreciation
5,682.00
+10.01%
5,165.00
+17.79%
4,385.00
+5.31%
4,164.00
EBIT
9,532.00
-6.83%
10,231.00
+25.15%
8,175.00
-2.42%
8,378.00
Total Unusual Items
-319.00
-161.11%
522.00
+181.95%
-637.00
-584.95%
-93.00
Total Unusual Items Excluding Goodwill
-319.00
-161.11%
522.00
+181.95%
-637.00
-584.95%
-93.00
Special Income Charges
-319.00
-161.11%
522.00
+181.95%
-637.00
-65.03%
-386.00
Other Special Charges
34.00
+183.33%
12.00
-98.08%
625.00
—
Impairment Of Capital Assets
285.00
+448.08%
52.00
+333.33%
12.00
-96.89%
386.00
Write Off
—
—
—
386.00
Net Income
4,433.00
-7.91%
4,814.00
+22.34%
3,935.00
-17.26%
4,756.00
Pretax Income
6,058.00
-14.75%
7,106.00
+26.96%
5,597.00
-7.82%
6,072.00
Net Non Operating Interest Income Expense
-3,474.00
-11.17%
-3,125.00
-21.22%
-2,578.00
-11.80%
-2,306.00
Interest Expense Non Operating
3,474.00
+11.17%
3,125.00
+21.22%
2,578.00
+11.80%
2,306.00
Net Interest Income
-3,474.00
-11.17%
-3,125.00
-21.22%
-2,578.00
-11.80%
-2,306.00
Interest Expense
3,474.00
+11.17%
3,125.00
+21.22%
2,578.00
+11.80%
2,306.00
Other Income Expense
220.00
-78.87%
1,041.00
+888.64%
-132.00
-151.97%
254.00
Other Non Operating Income Expenses
120.00
-14.29%
140.00
+14.75%
122.00
+35.56%
90.00
Gain On Sale Of Security
—
6.00
-83.33%
36.00
-87.71%
293.00
Tax Provision
350.00
-35.30%
541.00
+78.55%
303.00
+48.53%
204.00
Tax Effect Of Unusual Items
-18.47
-146.50%
39.72
+215.27%
-34.46
-1002.95%
-3.12
Net Income Including Noncontrolling Interests
5,708.00
-13.05%
6,565.00
+24.01%
5,294.00
-9.78%
5,868.00
Net Income From Continuing Operation Net Minority Interest
4,433.00
-7.91%
4,814.00
+22.34%
3,935.00
-17.26%
4,756.00
Net Income From Continuing And Discontinued Operation
4,433.00
-7.91%
4,814.00
+22.34%
3,935.00
-17.26%
4,756.00
Net Income Continuous Operations
5,708.00
-13.05%
6,565.00
+24.01%
5,294.00
-9.78%
5,868.00
Minority Interests
-1,275.00
+27.18%
-1,751.00
-28.84%
-1,359.00
-22.21%
-1,112.00
Normalized Income
4,733.53
+9.28%
4,331.72
-4.54%
4,537.54
-6.36%
4,845.88
Net Income Common Stockholders
4,173.00
-5.03%
4,394.00
+26.66%
3,469.00
-19.88%
4,330.00
Otherunder Preferred Stock Dividend
256.00
-38.46%
416.00
-10.15%
463.00
+9.72%
422.00
Diluted EPS
1.21
-5.47%
1.28
+17.43%
1.09
-22.14%
1.40
Basic EPS
1.22
-5.43%
1.29
+17.27%
1.10
-21.43%
1.40
Basic Average Shares
3,432.90
+1.11%
3,395.10
+7.38%
3,161.70
+2.43%
3,086.80
Diluted Average Shares
3,449.50
+0.84%
3,420.60
+7.66%
3,177.20
+2.59%
3,097.00
Diluted NI Availto Com Stockholders
4,172.00
-5.03%
4,393.00
+26.67%
3,468.00
-19.87%
4,328.00
Average Dilution Earnings
-1.00
+0.00%
-1.00
+0.00%
-1.00
+50.00%
-2.00
Earnings From Equity Interest
419.00
+10.55%
379.00
-1.04%
383.00
+49.03%
257.00
Gain On Sale Of PPE
0.00
-100.00%
586.00
0.00
0.00
Preferred Stock Dividends
4.00
+0.00%
4.00
+33.33%
3.00
-25.00%
4.00
Line Item Trend 2023-12-31
Total Assets
113,698.00
Current Assets
12,433.00
Cash Cash Equivalents And Short Term Investments
161.00
Cash And Cash Equivalents
161.00
Receivables
9,215.00
Accounts Receivable
9,047.00
Taxes Receivable
67.00
Inventory
2,478.00
Raw Materials
562.00
Finished Goods
1,916.00
Prepaid Assets
205.00
Hedging Assets Current
66.00
Other Current Assets
308.00
Total Non Current Assets
101,265.00
Net PPE
86,177.00
Gross PPE
115,758.00
Accumulated Depreciation
-29,581.00
Properties
—
Land And Improvements
1,529.00
Buildings And Improvements
3,848.00
Machinery Furniture Equipment
7,978.00
Construction In Progress
2,315.00
Other Properties
100,088.00
Goodwill And Other Intangible Assets
10,258.00
Other Intangible Assets
6,239.00
Investments And Advances
3,097.00
Long Term Equity Investment
3,097.00
Non Current Deferred Assets
148.00
Other Non Current Assets
1,440.00
Total Liabilities Net Minority Interest
68,981.00
Current Liabilities
11,277.00
Payables And Accrued Expenses
8,978.00
Payables
7,493.00
Accounts Payable
6,663.00
Other Payable
163.00
Current Accrued Expenses
1,485.00
Total Tax Payable
646.00
Current Debt And Capital Lease Obligation
1,064.00
Current Debt
1,008.00
Other Current Borrowings
1,008.00
Current Capital Lease Obligation
56.00
Current Deferred Liabilities
552.00
Current Deferred Revenue
552.00
Other Current Liabilities
683.00
Total Non Current Liabilities Net Minority Interest
57,704.00
Long Term Debt And Capital Lease Obligation
52,158.00
Long Term Debt
51,380.00
Long Term Capital Lease Obligation
778.00
Defined Pension Benefit
145.00
Non Current Deferred Liabilities
3,931.00
Non Current Deferred Taxes Liabilities
3,931.00
Other Non Current Liabilities
1,611.00
Preferred Securities Outside Stock Equity
—
Stockholders Equity
0.00
Common Stock Equity
36,682.00
Share Issued
3,367.53
Ordinary Shares Number
3,367.53
Treasury Shares Number
0.00
Gains Losses Not Affecting Retained Earnings
28.00
Minority Interest
8,035.00
Total Equity Gross Minority Interest
44,717.00
Total Capitalization
88,062.00
Working Capital
1,156.00
Invested Capital
89,070.00
Total Debt
53,222.00
Net Debt
52,227.00
Capital Lease Obligations
834.00
Net Tangible Assets
-10,258.00
Tangible Book Value
26,424.00
Derivative Product Liabilities
4.00
Duefrom Related Parties Current
101.00
Dueto Related Parties Current
21.00
General Partnership Capital
-2.00
Interest Payable
637.00
Investmentsin Associatesat Cost
—
Limited Partnership Capital
36,656.00
Preferred Shares Number
—
Total Partnership Capital
36,682.00
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Operating Cash Flow
10,149.00
-11.79%
11,506.00
+20.42%
9,555.00
+5.57%
9,051.00
Cash Flow From Continuing Operating Activities
10,149.00
-11.79%
11,506.00
+20.42%
9,555.00
+5.57%
9,051.00
Net Income From Continuing Operations
5,708.00
-13.05%
6,565.00
+24.01%
5,294.00
-9.78%
5,868.00
Depreciation Amortization Depletion
5,682.00
+10.01%
5,165.00
+17.79%
4,385.00
+5.31%
4,164.00
Other Non Cash Items
179.00
+20.13%
149.00
+81.71%
82.00
+218.84%
-69.00
Stock Based Compensation
148.00
-1.99%
151.00
+16.15%
130.00
+13.04%
115.00
Asset Impairment Charge
285.00
+448.08%
52.00
+333.33%
12.00
-96.89%
386.00
Deferred Tax
178.00
-35.51%
276.00
+35.96%
203.00
+8.56%
187.00
Deferred Income Tax
178.00
-35.51%
276.00
+35.96%
203.00
+8.56%
187.00
Operating Gains Losses
-437.00
+56.82%
-1,012.00
-123.40%
-453.00
-37.27%
-330.00
Gain Loss On Investment Securities
-52.00
+11.86%
-59.00
+13.24%
-68.00
+6.85%
-73.00
Change In Working Capital
-1,976.00
-908.16%
-196.00
+56.54%
-451.00
+69.97%
-1,502.00
Change In Receivables
-46.00
+93.95%
-760.00
-331.82%
-176.00
+79.05%
-840.00
Changes In Account Receivables
-46.00
+93.95%
-760.00
-331.82%
-176.00
+79.05%
-840.00
Change In Inventory
-717.00
+2.45%
-735.00
-2200.00%
35.00
+109.70%
-361.00
Change In Payables And Accrued Expense
-442.00
-130.57%
1,446.00
+538.18%
-330.00
-303.70%
162.00
Change In Accrued Expense
-96.00
-157.83%
166.00
-20.57%
209.00
+59.54%
131.00
Change In Payable
-346.00
-127.03%
1,280.00
+337.48%
-539.00
-1838.71%
31.00
Change In Account Payable
-346.00
-127.03%
1,280.00
+337.48%
-539.00
-1838.71%
31.00
Change In Other Working Capital
-48.00
-180.00%
60.00
+239.53%
-43.00
+87.68%
-349.00
Change In Other Current Assets
-200.00
-138.10%
-84.00
-187.50%
96.00
+153.33%
-180.00
Change In Other Current Liabilities
-523.00
-325.20%
-123.00
-272.73%
-33.00
-150.00%
66.00
Investing Cash Flow
-8,373.00
-41.82%
-5,904.00
-36.51%
-4,325.00
-7.53%
-4,022.00
Cash Flow From Continuing Investing Activities
-8,373.00
-41.82%
-5,904.00
-36.51%
-4,325.00
-7.53%
-4,022.00
Capital Expenditure
-6,303.00
-51.37%
-4,164.00
-32.87%
-3,134.00
+7.31%
-3,381.00
Capital Expenditure Reported
-6,303.00
-51.37%
-4,164.00
-32.87%
-3,134.00
+7.31%
-3,381.00
Net Investment Purchase And Sale
0.00
+100.00%
-84.00
0.00
0.00
Purchase Of Investment
0.00
+100.00%
-84.00
0.00
0.00
Net Business Purchase And Sale
-2,271.00
+19.67%
-2,827.00
-111.76%
-1,335.00
-59.12%
-839.00
Purchase Of Business
-2,271.00
+20.43%
-2,854.00
-113.78%
-1,335.00
-17.00%
-1,141.00
Gain Loss On Sale Of Business
0.00
+100.00%
-586.00
0.00
0.00
Financing Cash Flow
-816.00
+85.03%
-5,451.00
-2.35%
-5,326.00
-4.27%
-5,108.00
Cash Flow From Continuing Financing Activities
-816.00
+85.03%
-5,451.00
-2.35%
-5,326.00
-4.27%
-5,108.00
Net Issuance Payments Of Debt
4,818.00
+1.62%
4,741.00
+564.01%
714.00
+184.70%
-843.00
Issuance Of Debt
32,870.00
-3.75%
34,150.00
+6.29%
32,130.00
+11.42%
28,838.00
Repayment Of Debt
-28,052.00
+4.61%
-29,409.00
+6.39%
-31,416.00
-5.85%
-29,681.00
Long Term Debt Issuance
32,870.00
-3.75%
34,150.00
+6.29%
32,130.00
+11.42%
28,838.00
Long Term Debt Payments
-28,052.00
+4.61%
-29,409.00
+6.39%
-31,416.00
-5.85%
-29,681.00
Net Long Term Debt Issuance
4,818.00
+1.62%
4,741.00
+564.01%
714.00
+184.70%
-843.00
Net Common Stock Issuance
—
—
0.00
0.00
Common Stock Payments
—
—
0.00
0.00
Common Stock Dividend Paid
-4,725.00
-2.21%
-4,623.00
-8.83%
-4,248.00
-39.42%
-3,047.00
Cash Dividends Paid
-4,725.00
-2.21%
-4,623.00
-8.83%
-4,248.00
-39.42%
-3,047.00
Repurchase Of Capital Stock
-500.00
+85.57%
-3,466.00
0.00
0.00
Net Other Financing Charges
-1,882.00
+10.51%
-2,103.00
-17.35%
-1,792.00
-47.13%
-1,218.00
Changes In Cash
960.00
+535.76%
151.00
+257.29%
-96.00
-21.52%
-79.00
Beginning Cash Position
312.00
+93.79%
161.00
-37.35%
257.00
-23.51%
336.00
End Cash Position
1,272.00
+307.69%
312.00
+93.79%
161.00
-37.35%
257.00
Free Cash Flow
3,846.00
-47.62%
7,342.00
+14.34%
6,421.00
+13.25%
5,670.00
Interest Paid Supplemental Data
3,136.00
+8.74%
2,884.00
+25.50%
2,298.00
+6.05%
2,167.00
Income Tax Paid Supplemental Data
—
206.00
+100.00%
103.00
+90.74%
54.00
Common Stock Issuance
—
—
0.00
0.00
Dividend Received CFO
382.00
+7.30%
356.00
+0.85%
353.00
+52.16%
232.00
Dividends Received CFI
61.00
-18.67%
75.00
+19.05%
63.00
+1.61%
62.00
Earnings Losses From Equity Investments
-419.00
-10.55%
-379.00
+1.04%
-383.00
-49.03%
-257.00
Issuance Of Capital Stock
1,473.00
0.00
0.00
0.00
Net Preferred Stock Issuance
973.00
+128.07%
-3,466.00
0.00
0.00
Preferred Stock Issuance
1,473.00
0.00
0.00
—
Preferred Stock Payments
-500.00
+85.57%
-3,466.00
0.00
0.00
Sale Of Business
0.00
-100.00%
27.00
0.00
-100.00%
302.00
SEC Filings

Recent 10-K, 10-Q, 8-K, and Form 4 (insider) filings.

Trades
Date User Broker Pattern Type Position Size Entry Price Trade P&L Status
Posts
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