Energy Transfer LP
Energy Transfer LP
Your view on ET
Overview
What the company does, where it operates, and who runs it.
About Energy Transfer LP
- Industry
- Oil & Gas Midstream
- Sector
- Energy
- CEO
- Marshall S. McCrea III
- Headquarters
- 8111 Westchester Drive, Dallas, TX, US
- Industry
- Oil & Gas Midstream
- Sector
- Energy
- CEO
- Marshall S. McCrea III
- Headquarters
- 8111 Westchester Drive, Dallas, TX, US
Energy Transfer LP provides energy-related services. The company owns and operates approximately 11,600 miles of natural gas transportation pipeline, and three natural gas storage facilities in Texas and two natural gas storage facilities located in the state of Texas and Oklahoma; and 19,830 miles of interstate natural gas pipeline.
It also sells natural gas to electric utilities, independent power plants, local distribution and other marketing companies, and industrial end-users.
The company owns and operates natural gas gathering and natural gas liquid (NGL) pipeline, processing plant, and treating and conditioning facilities in Texas, New Mexico, West Virginia, Pennsylvania, Ohio, Oklahoma, Arkansas, Kansas, and Louisiana; natural gas gathering, oil pipeline, and oil stabilization facilities in South Texas; and a natural gas gathering system in Ohio, as well as transport and supplies water to natural gas producer in Pennsylvania.
It owns approximately 5,215 miles of NGL pipeline; NGL and propane fractionation facilities; NGL storage facilities with working storage capacity of approximately 50 million barrels (MMBbls); and other NGL storage assets and terminal with an aggregate storage capacity of approximately 17 MMBbls.
The company provides crude oil transportation, terminalling, acquisition, and marketing activities; and sells and distributes gasoline, middle distillate, and motor fuels and other petroleum product.
It offers natural gas compression service; carbon dioxide and hydrogen sulfide removal, natural gas cooling, dehydration, and British thermal unit management service; and manages coal and natural resources properties, as well as sells standing timber, leases coal-related infrastructure facilities, collects oil and gas royalty, and generate electrical power.
The company was formerly known as Energy Transfer Equity, L.P. and changed its name to Energy Transfer LP in October 2018. The company was founded in 1996 and is headquartered in Dallas, Texas.
Stock Data
Price chart, volume, and trading data.
What moved it
FRC Fair Value Algorithm
What the FRC Fair Value algorithm says it is worth vs. the current price — FRC's own, on every stock.
About this section
Fair value for Energy Transfer LP from FRC's valuation model, read against the market price. ET last traded at $20.25, 12.0× trailing earnings — the estimate is read against that market price. The model runs on every stock on the platform and shows the estimate per share and the date it was calculated. A free account covers 3 company valuations a month; a paid subscription is unlimited.
Financial Ratios
Profitability, returns, valuation, and leverage ratios.
About this section
Valuation, profitability, liquidity and leverage ratios for Energy Transfer LP. Starting points for Energy Transfer LP: P/E 12.0, EPS $1.73, beta 0.60 — an Oil & Gas Midstream name. P/E, P/B, EV/EBITDA, margins, return on equity, current ratio and debt coverage, each shown against the company's own history.
Dividend Analysis
Yield, payout ratio, and dividend coverage metrics.
About this section
Dividend history, yield and payout sustainability for Energy Transfer LP. Energy Transfer LP paid $1.34 per share over the last year — a 6.6% yield at the current $20.25 price. Per-share payments, yield over time, payout ratio and growth streak, with coverage measured against free cash flow.
Earnings Analysis
EPS history, beat rate, and upcoming earnings reports.
About this section
Reported vs. expected earnings history for Energy Transfer LP. Trailing twelve-month EPS for Energy Transfer LP stands at $1.73. EPS surprises by quarter, revenue against estimates, and the upcoming reporting date.
Wall Street Analyst Estimates
Analysts' price targets, ratings, and revenue and EPS estimates.
Price targets, ratings and estimates published by outside analysts. Not FRC research, not a recommendation, and not the FRC Fair Value: that is FRC's proprietary model, built on the cash a company generates.
Current price
—
live quote
Analysts' target
$24.20
average of 5 firms, last 12 months
Analyst Ratings
- Strong Buy0
- Buy9
- Hold1
- Sell0
- Strong Sell0
Earnings Estimate
| EPS | Current QtrDec 2026 | Next QtrMar 2027 | Current YearFY Dec 2026 | Next YearFY Dec 2027 |
|---|---|---|---|---|
| Avg. estimate | $0.41 | $0.42 | $1.73 | $1.73 |
| Low estimate | $0.36 | $0.38 | $1.63 | $1.44 |
| High estimate | $0.45 | $0.47 | $1.87 | $1.93 |
| No. of analysts | 10 | 7 | 14 | 14 |
| Year-ago EPS | $0.25 | $0.35 | $1.35 | — |
| Growth | +62.4% | +19.7% | +28.4% | — |
Revenue Estimate
| Revenue | Current QtrDec 2026 | Next QtrMar 2027 | Current YearFY Dec 2026 | Next YearFY Dec 2027 |
|---|---|---|---|---|
| Avg. estimate | $32.10B | $31.33B | $122.59B | $125.65B |
| Low estimate | $31.90B | $31.26B | $100.39B | $100.60B |
| High estimate | $32.31B | $31.40B | $133.86B | $138.64B |
| No. of analysts | 5 | 3 | 9 | 9 |
| Year-ago revenue | $22.41B | $27.77B | $82.63B | — |
| Growth | +43.3% | +12.8% | +48.4% | — |
Source: Wall Street analysts' published price targets, ratings and estimates, compiled by Financial Modeling Prep from StreetInsider, Benzinga, Pulse 2.0; as of Nov 15, 2026. Not FRC research or a recommendation.
Financial Statements
Income statement, balance sheet, and cash flow statements.
About this section
Income statement, balance sheet and cash flow history for Energy Transfer LP. Energy Transfer LP has reported as a listed company since 2006. Annual and quarterly filings with period-over-period comparison, so you can trace how revenue, margins and cash generation have moved.
Comparables
List of peer companies in the same industry.
Peer companies
Market cap
- EEni S.p.A.Oil & Gas Integrated$83.9B
- EOGEOG Resources, Inc.Oil & Gas Exploration & Production$82.1B
- EPDEnterprise Products Partners L.P.Oil & Gas Midstream$82.6B
- EQNREquinor ASAOil & Gas Integrated$102.7B
- KMIKinder Morgan, Inc.Oil & Gas Midstream$71.1B
- LNGCheniere Energy, Inc.Oil & Gas Midstream$63.0B
- MPLXMPLX LpOil & Gas Midstream$58.0B
- OKEONEOK, Inc.Oil & Gas Midstream$56.6B
More Oil & Gas Midstream companies
- RBNERobin Energy Ltd.NASDAQ$22,515
- SBRSabine Royalty TrustNYSE$937M
- SMCSummit Midstream Corp.NYSE$423M
- SOBOSouth Bow CorporationNYSE$7.0B
- SOBO.TOSouth Bow CorporationTSX$9.9B
- SPKOYSinopec Kantons Holdings LimitedOTC$1.5B
- SRR.VSource Rock Royalties Ltd.TSXV$40M
- SUNCSunocoCorp LLCNYSE$3.0B
- TCANFTC Energy CorporationOTC$26.7B
- TCPATransCanada PipeLines Limited 6NYSE$20.8B
- TENTsakos Energy Navigation LimitedNYSE$1.4B
- TGSTransportadora de Gas del Sur S.A.NYSE$3.2B
ETFs holding Energy Transfer LP
% of the fund
- AMLPAlerian MLP ETF$12.1B in assets11.89%
- MLPAGlobal X - MLP ETF$2.3B in assets14.62%
- EMLPFirst Trust North American Energy Infrastructure Fund$4.1B in assets7.46%
- MLPXGlobal X - MLP & Energy Infrastructure ETF$3.4B in assets4.30%
- MDSTWestwood Salient Enhanced Midstream Income ETF$293M in assets9.06%
- EIPXFT Energy Income Partners Strategy ETF$571M in assets6.93%
- TPYPTortoise North American Pipeline Fund$865M in assets3.61%
- PWVInvesco Large Cap Value ETF$1.8B in assets1.34%
Largest holders first, then the funds most concentrated in ET.
Institutional Ownership
Which funds and firms own the stock.
About this section
Which institutions hold Energy Transfer LP, and how their positions are changing. At a $69.71B market value, institutional positions materially move Energy Transfer LP's register. Top holders, position sizes, and quarter-over-quarter accumulation or distribution from regulatory filings.
Insider Trading
Recent buying and selling by company executives.
About this section
Buying and selling by Energy Transfer LP executives and directors. Shares of Energy Transfer LP have traded between $14.60 and $21.45 over the past 52 weeks — context for the timing of the transactions below. Insider transactions as disclosed to regulators, with role, size and date — the clearest read on how the people running the company are positioned.
Senate Trading
U.S. Senator disclosures filed under the STOCK Act.
About this section
U.S. Senate disclosures naming Energy Transfer LP. Energy Transfer LP is a $69.71B Energy company. Senators' reported transactions in this security, alongside the fundamentals — a signal most research platforms leave out entirely.
House Trading
U.S. Representative disclosures filed under the STOCK Act.
About this section
U.S. House of Representatives disclosures naming Energy Transfer LP. Representatives' reported transactions in this security, shown next to the company's fundamentals.
News
Latest headlines and market coverage.
About this section
Latest headlines and company announcements for Energy Transfer LP. Coverage tracks Energy Transfer LP within Oil & Gas Midstream (Energy). Press releases and market coverage, newest first.
Comments
Comments and replies from FRC members about this company.
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