DailyIQ
DailyIQ
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ET·Energy Transfer LP

$19.19
-0.27 (-1.39%)
Pre-Market
High
$19.48
Open
$18.95
Market Cap
67.01B
52W High
$21.85
Low
$18.95
P. Close
$19.19
P/E
12.67
52W Low
$16.18
Fwd P/E
11.01
DailyIQ Est.
$25.31
Inst. Own.
16.4%
Short Interest
0.71%
Days to Cover
3.0
Div. Yield
1.76%
Last Ex-Div
Aug 7, 2026
NewEarnings release, scored · filed Nov 3, 2026tone -7.3 vs prior release · 67 lines scoredSee the breakdown
Technical Score (1D)
70
BULLISH
News Sentiment
55
BULLISH
On Nov 5, Energy Transfer LP priced a $2.7 billion senior note offering, selling three tranches at near‑par prices. The company issued $900 million each of 5.450% 2032, 5.900% 2037, and 6.550% 2057 senior notes, indicating strong demand and favorable market conditions. The proceeds, totaling roughly $2.68 billion before fees, were earmarked for refinancing existing debt, a move that could reduce interest costs and extend maturities. The transaction was completed under standard closing conditions, reflecting Energy Transfer’s ongoing strategy to manage leverage and maintain liquidity. The pricing and use of proceeds were reported by the company as part of its broader balance‑sheet management plan.
LOW TARGET
$22 +14.6%
2 analysts
MEAN TARGET
$25 +28.7%
12 analysts
HIGH TARGET
$28 +45.9%
19 analysts
PRICE RANGE
$22.00 - $28.00
SB / B / H / S / SS
11/14/6/1/1
DAILYIQ EST.
$25.31 (+31.9%)
Sector
Energy
Industry
Oil & Gas Midstream
Exchange
NYQ
Country
United States
Symbol
ET
Description
Energy Transfer LP is a U.S.-based energy infrastructure company primarily engaged in the transportation and storage of natural gas, natural gas liquids (NGLs), and crude oil. The company's extensive network includes over 32,000 miles of natural gas pipelines and approximately 5,700 miles of NGL pipelines, alongside storage facilities and processing plants. Energy Transfer also provides services such as crude oil transportation, terminalling, and marketing, in addition to selling motor fuels under the Sunoco and EcoMaxx brands. Furthermore, the company offers a range of midstream services and engages in activities related to natural gas compression and the removal of carbon dioxide and hydrogen sulfide. Founded in 1996 and headquartered in Dallas, Texas, Energy Transfer has evolved from its origins as Energy Transfer Equity, L.P., and continues to play a vital role in the energy sector.
Bought (1Y)
1,012,359.372 shares
$21.5M
Sold (1Y)
0 shares
$0
WARREN KELCY L-
Buy647,968 shares2026-08-19
WARREN KELCY L-
Buy352,032 shares2026-08-18
Perry James Richard-
Buy12,359.372 shares2026-08-07
68/ 100
Bullish
Overall: Bullish
✓Revenue growing year over year
✓Positive net margin
✓Positive operating cash flow
Gross Margin
25.8%
Net Margin
5.2%
Revenue CAGR
13.9%
Current Ratio
1.22x
Debt / Equity
1.39x
Return on Equity
9.0%
Earnings Summary
In Q4 2025, the company posted revenue of $25.32 billion, up from $19.54 billion in Q4 2024, marking a 29% YoY increase, while EPS fell to $0.25 from $0.29, reflecting a modest earnings miss against estimates of $0.3793. The following quarter, Q2 2026, saw a sharp revenue surge to $34.33 billion versus $25.32 billion, a 36% YoY jump, and EPS rebounded to $0.59, surpassing the $0.36778 estimate. Q3 2026 revenue of $37.10 billion continued the upward trend, with EPS at $0.33, still below the $0.4151 forecast. Thus, the firm has demonstrated accelerating top‑line growth but mixed earnings performance, beating estimates in Q2 2026 but missing in Q3 2026. Historically, Energy Transfer has maintained a consistent revenue expansion trajectory, with YoY growth ranging from 20% to 36% over the past four quarters, while EPS has oscillated between misses and modest beats, indicating volatility in profitability. Recent news highlights a Q3 2026 earnings miss of $0.33 versus $0.41 consensus, suggesting potential profitability pressure despite strong revenue, and earlier reports noted robust EBITDA and cash flow growth supporting a 6.7% dividend yield.

EPS

EstBeatMiss
$0.20$0.31$0.42$0.53$0.64Q4'24Q4'25Q2'26Q3'26Q4'26
QtrEstActual+/−
Q4'26$0.41 - -
Q3'26$0.42$0.33-20.5%
Q2'26$0.37$0.59+60.4%
Q4'25$0.38$0.25-34.1%
Q4'24$0.37$0.29-22.5%

Revenue

EstBeatMiss
$16.9B$22.6B$28.3B$34.0B$39.7BQ4'24Q4'25Q2'26Q3'26Q4'26
QtrEstActual+/−
Q4'26$32.0B - -
Q3'26$32.6B$37.1B+14.0%
Q2'26$29.1B$34.3B+18.0%
Q4'25$24.8B$25.3B+2.0%
Q4'24 - $19.5B -

Market Data

ET Stock Snapshot

BULLISH70/100
$18.95−$0.40 (2.1%)
Market cap
67.01B
P/E ratio
12.7
Day range
$18.95 – $19.48
News sentiment
55/100 · Neutral
Analyst target
$24.70 (+30.3%)
Consensus
Buy · 33 analysts
52-week range+17.1% off low · -13.3% from high
$16.18$21.85
Price $18.95 DailyIQ Est. $25.31

The signal on ET is bullish: price action is confirming the underlying trend, not fighting it. The stock is liquid enough that positioning changes get absorbed without distorting the trend.

Reverse DCF

What growth is priced into ET?

CHEAP

At today's price, Energy Transfer LP needs to grow free cash flow about 0.3% a year for 3 years, slowing to a long-run rate by year 10, to justify its valuation at a 6.19% cost of capital. Over the last five years its revenue has trended at 4.0% a year, so the market is asking for 3.7 percentage points below its own delivered rate. On that basis ET looks priced below what its own growth record supports.

Implied FCF growth
0.3%
Growth trend
4.0%
Growth gap
-3.7 pts
Verdict
CHEAP
Discount rate (WACC)
6.19%
Beta
0.70

Behaviour On Record

What ET's own history says about today's numbers

Realized volatility (21d)
21.1% 33rd pct
Below its peak
-44.3%
vs 200-day average
-0.4%
Up days (1y)
51%

Energy Transfer LP is currently running 21.1% annualised volatility over the last 21 sessions. Measured against ET's own 13 years of daily returns rather than a market-wide average, that is the 33rd percentile — on the quiet side for this stock, against a typical reading of 27.5%.

ET is trading -44.3% below its running peak. Across 13 full years on file, its median worst-drawdown-in-a-year was -26.9%, and the deepest was -70.2% in 2016. The current drawdown is already deeper than this stock's typical annual low point, which puts it in the part of its range where past recoveries began, and where past declines also continued.

Price sits -0.4% from its 200-day moving average. Against every other day in its history, that gap ranks at the 40th percentile — close to the gap it normally carries. Over the past year ET closed higher on 51% of sessions, and it is currently 1 session into a rising streak.

On November specifically: over 13 years of records, ET finished the month higher 6 of 13 times, with a median return of -1.2% and an average of +1.1%. Its strongest month historically has been April at +11.6% on average, its weakest September at -4.9%.

Overnight risk is measurable too: ET has opened more than 2% away from the prior close in 176 of 3,268 sessions (5.4% of the time), with the largest gaps running +12.8% and -13.1%.

Across the last 3 dated reports on file, ET moved an average of 1.7% in the session after earnings, closing higher 2 of those 3 times, with a median move of +0.1% and a largest of -3.5%.

All figures computed from 3,269 daily closes between 2013-11-06 and 2026-11-05, split-adjusted, recomputed daily. Percentiles are against ET's own 13-year history, not a peer group or index.

Sector Rotation

Is money rotating into or out of ET's sector?

Energy Transfer LP sits in the Industrials sector, currently ranked 8th of 12 GICS sectors by relative-strength rotation score (weakening).

Sector rank
#8 of 12
Sector state
Weakening
Sector rotation score
27

Options Market

What is the options market pricing for ET?

CallsPuts

For Energy Transfer LP's nearest expiry (2027-01-15, 70 days out), open interest is tracked across both sides of the chain, with at-the-money implied volatility around 3.1%. The options market is pricing roughly a ±1.4% move by that expiry — a range of about $19.30–$19.84.

ATM implied volatility
3.1%
Total open interest
26
Expected move by 2027-01-15
±1.4% ($19.30–$19.84)

Analyst Consensus Estimates

What do analysts expect ET to earn?

Analysts expect Energy Transfer LP to earn $1.74 per share in the fiscal year ending Dec 2026 and $1.70 in the fiscal year ending Dec 2027, from 16 estimates. These are analyst forecasts, not company guidance, and later years rest on fewer analysts.

Quarter endingEPS estimateEPS rangeEPS analystsRevenue estimateRevenue analysts
Sep 2026$0.41$0.35 to $0.4812$32.43B8
Dec 2026$0.41$0.35 to $0.4812$32.07B8
Fiscal year endingEPS estimateEPS rangeEPS analystsRevenue estimateRevenue analysts
Dec 2026$1.74$1.63 to $1.8815$123.88B12
Dec 2027$1.70$1.38 to $2.0516$123.58B13

Analyst Rating Changes

Are analysts turning bullish or bearish on ET?

JP Morgan most recently reiterated its rating on Energy Transfer LP to Overweight on Sep 4, 2026 with a price target of $25 (from $24). Over the last 90 days, coverage has run 0 upgrades against 0 downgrades, a net mixed lean.

Latest action
JP Morgan: Overweight
90-day upgrades
0
90-day downgrades
0
Net rating momentum
0
DateFirmActionRatingPrice target
Sep 4, 2026JP MorganMaintainedOverweight$24 → $25
Aug 18, 2026Morgan StanleyMaintainedEqual-Weight$23 → $25
Aug 12, 2026Truist SecuritiesMaintainedBuy$23 → $25
Aug 10, 2026TD CowenMaintainedBuy$24 → $25
Aug 7, 2026CitigroupMaintainedBuy$23 → $24
Aug 5, 2026BarclaysMaintainedOverweight$23 → $24
Jul 21, 2026RBC CapitalMaintainedOutperform$21 → $23
Jul 16, 2026TD CowenMaintainedBuy$23 → $24
May 27, 2026Morgan StanleyMaintainedEqual-Weight$21 → $23
May 14, 2026BarclaysMaintainedOverweight$22 → $23
May 13, 2026TD CowenMaintainedBuy$22 → $23
May 12, 2026ScotiabankMaintainedSector Outperform$22 → $24

Earnings Release, Scored

What did Energy Transfer LP's latest earnings release say?

Filed Nov 3, 2026 · SEC Form 8-K, Exhibit 99

Tone67.5/ 100-7.3 vs prior release
Hedging words0.62per 100 words+0.36 vs prior release
Tone, last 3 releasesScale 50–82

Most important lines

  1. 1

    When it enters service, projected in 2030, the project will give shippers greater access to natural gas from multiple basins across the Southeastern U.S.

    New this quarter
  2. 2

    The Partnership has secured long-term, demand-based transportation agreements to support the construction of a 36-inch pipeline with a capacity of 1.2 Bcf/d, at an expected cost of approximately $1.6 billion.

    New this quarter
  3. 3

    In November, Energy Transfer reached positive final investment decision (FID) on the 215-mile South Mississippi Pipeline Project.

    New this quarter

Peers

ET peers

News & sentiment

What is the news saying about ET?

ET fell 7.2% over the month to Nov 5. News tone held between 30 and 62 from Oct 5 to Oct 9, then jumped to 81 on Oct 12.

Daily close and news tone, Oct 5 to Nov 5
$19$20$21Oct 5: tone 48Oct 6: tone 61Oct 7: tone 62Oct 8Oct 9: tone 30Oct 12: tone 81Oct 13Oct 14Oct 15: tone 46Oct 16Oct 19Oct 20: tone 92Oct 21Oct 22: tone 65Oct 23: tone 62Oct 26Oct 27Oct 28: tone 50Oct 29: tone 62Oct 30: tone 100Nov 2: tone 70Nov 3: tone 57Nov 4: tone 77Nov 5: tone 52Oct 5News toneNov 5123
  1. Oct 15 -1.7%same day: Energy Transfer: Downgrading After A Strong Run
  2. Nov 2 -2.7%same day: Energy Transfer: Another Beat And Raise On Deck, Bear Case Evaporating, Stay Long (Rating Downgrade)
  3. Nov 4 -3.5%same day: Energy Transfer Q3 Earnings Call Highlights
Latest stories naming Energy Transfer

Technical analysis

How strong is ET's momentum right now?

On the daily chart ET ranks at the 70th percentile for momentum against 1,060 stocks and ETFs, a bullish reading.

Momentum rank by timeframe0 = weakest, 100 = strongest
See what drives the rankThe inputs behind each timeframe's momentum rank, plus RSI, stochastics, Bollinger Bands and moving averages. Free with an account.

Institutional ownership

Are big funds buying or selling ET?

39 of the 80 tracked managers added to ET in their latest 13F and 32 trimmed. Together they own 16.4% of the company, worth $11.0B. Morgan Stanley and JPMorgan Chase alone hold 4.7%.

39adding32trimming9unchanged
Largest holders by stake, latest 13FBar = share of ET
  1. $1.6B positionTrimmed 1.9% last quarter
  2. $1.5B positionAdded 12.3% last quarter
  3. $1.2B positionAdded 4.0% last quarter
  4. $1.1B positionTrimmed 2.1% last quarter
  5. $684.2M positionAdded 15.0% last quarter
  6. $584.1M positionTrimmed 1.4% last quarter
  7. $538.0M positionTrimmed 9.1% last quarter
  8. $466.8M positionAdded 2.2% last quarter
  9. $420.1M positionTrimmed 7.5% last quarter
  10. 10Natixis0.61%
    $409.2M positionAdded 0.1% last quarter
Full holdings history

Congressional trading

Is Congress trading ET?

2 members of Congress disclosed 5 ET trades between Dec 6, 2024 and May 5, 2026: 1 buy and 4 sells, about $156.0K in estimated value.

BuysSellsJan ’25AprJulOctJan ’26Apr
BuySell$1K–$15K$15K–$50K$50K–$100K$100K–$250K

What stands out

Click one to highlight its trades in the chart

Discover more

How has ET done against its peers?

Over the six months to Nov 5, ET returned −5.9%. Of the 15 related stocks and ETFs, 12 did better, led by MPC at +44.8%.

Change since May 5, through Nov 5
−50%0%+50%+100%May 5JunJulAugSepOctNov 5MPC +44.8%ET −5.9%OIH −21.0%