Symbols / ET Stock $20.42 +1.57% Energy Transfer LP

Energy • Oil & Gas Midstream • United States • NYQ
ET (Stock) Chart
O: — H: — L: — C: — V: —
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Stock Fundamentals
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Index EQUITY
Sector Energy
Industry Oil & Gas Midstream
CEO Mr. Marshall S. McCrea III
Exch · Country NYQ · United States
Market Cap 70.25B
Enterprise Value 158.24B
Income 4.11B
Sales 92.29B
FCF (ttm) 1.72B
Book/sh 9.02
Cash/sh 0.28
Employees 22,311
Insider 10d —
IPO Feb 03, 2006
Div forward ($/yr)
Div TTM ($/yr)
Dividend Yield
Ex-Div Date
5Y Avg Yield
Yield vs 5Y Avg
Payout 110.42%
P/E 17.01
Forward P/E 13.37
PEG 0.60
P/S 0.76
P/B 2.26
P/C —
EV/EBITDA 10.08
EV/Sales 1.72
Quick Ratio 0.88
Current Ratio 1.17
Debt/Eq 142.24
LT Debt/Eq —
EPS (ttm) 1.20
EPS next Y 1.53
EPS Growth -3.60%
Revenue Growth 32.10%
EPS Gr Q/Q -5.20%
Rev Gr Q/Q —
Earnings (next) 2026-08-05
Earnings (prior) 2026-05-05
ROA 4.47%
ROE 12.35%
ROIC —
Gross Margin 18.62%
Oper. Margin 10.74%
Profit Margin 4.72%
Shs Outstand 3.44B
Shs Float 3.09B
Insider Own 10.27%
Instit Own 31.25%
Short Float 1.01%
Short Ratio 1.80
Short Interest 31.13M
52W High 20.67
vs 52W High -1.23%
52W Low 16.18
vs 52W Low 26.17%
Beta 0.57
Impl. Vol. 22.46%
Rel Volume 0.41
Avg Volume 16.36M
Volume 6.66M
Target (mean) $22.98
Tgt Median $23.00
Tgt Low $19.50
Tgt High $26.00
# Analysts 22
Recom Buy
Prev Close $20.10
Price $20.41
Change 1.57%
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.

Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus
$22.98
Mean price target
2. Current target
$20.42
Latest analyst target
3. DCF / Fair value
$9.00
Simplified: (Free Cash Flow ÷ Shares) × 18 (P/FCF multiple). Not a …
Ratings
Current target
$20.42
Low
$19.50
High
$26.00
Mean
$22.98

Latest analyst rating changes

Date Action Analyst Rating Change Price Target
2026-05-14 main Barclays Overweight → Overweight $23
2026-05-13 main TD Cowen Buy → Buy $23
2026-05-12 main Scotiabank Sector Outperform → Sector Outperform $24
2026-05-12 main JP Morgan Overweight → Overweight $24
2026-05-07 main Citigroup Buy → Buy $23
2026-05-06 main Stifel Buy → Buy $25
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
News
RSS: Latest ET news
Insider Transactions
Filed Date Insider Relationship Transaction Shares Price Value SEC
2026-01-02 MCREYNOLDS JOHN W Director — 7,423 $0.00 $0
2026-01-02 GRIMM MICHAEL K Director — 7,423 $0.00 $0
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
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
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
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 Rate For Calcs
—
0.00
+40.67%
0.00
—
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.

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