Energy Transfer zvýšila výhled pro rok 2026: upravený EBITDA nyní očekává na 18,8–19,1 miliardy USD. Ve 2. čtvrtletí zisk i tržby výrazně překonaly odhady.
It has been about a month since the last earnings report for Energy Transfer LP (ET - Free Report) . Shares have added about 5.9% in that time frame, outperforming the S&P 500.
But investors have to be wondering, will the recent positive trend continue leading up to its next earnings release, or is Energy Transfer LP due for a pullback? Well, first let's take a quick look at its latest earnings report in order to get a better handle on the recent drivers for Energy Transfer LP before we dive into how investors and analysts have reacted as of late.
Energy Transfer Q2 Earnings Beat Estimates on NGL Growth, View Up
Energy Transfer LP reported second-quarter 2026 earnings of 59 cents per unit, beating the Zacks Consensus Estimate of 39 cents by 51.28%. The bottom line increased 84.4% from 32 cents a year ago.
Total RevenuesRevenues of $34.33 billion surpassed the consensus estimate of $31.09 billion by 10.42% and climbed 78.4% year over year. Record NGL transportation and export volumes, along with stronger crude oil and midstream activity, supported the quarter.
Energy Transfer's Segment DetailsNGL and refined products transportation and services revenues increased 29.9% to $7.72 billion. Segment adjusted EBITDA rose 26.6% to $1.31 billion, reflecting stronger marketing, terminal, transportation, storage and fractionation margins.
NGL transportation volumes climbed 13% to a record 2.64 million barrels per day. Terminal volumes rose to 1.86 million barrels per day. Fractionation volumes increased 3% to 1.19 million barrels per day. Higher Permian volumes and stronger exports aided throughput.
Midstream revenues declined 10% to $2.82 billion, but segment adjusted EBITDA increased 15.1% to $884 million. Gathered volumes rose 4% to a record 22.14 million BBtu per day, helped by higher dry-gas gathering and increased Permian processing activity.
Crude oil transportation and services revenues surged 92.3% to $11.05 billion. Segment adjusted EBITDA grew 13.9% to $834 million. Transportation volumes increased 4% to a record 7.34 million barrels per day, supported by higher activity across the Texas, Permian and Bakken systems.
Intrastate transportation and storage revenues fell 36% to $596 million, while segment adjusted EBITDA increased 32.7% to $377 million. Wider basis differentials and early volumes from the Hugh Brinson Pipeline more than offset lower transported volumes and higher expenses.
Interstate transportation and storage revenues rose 3.2% to $609 million, and segment adjusted EBITDA gained 2.3% to $481 million. Higher parking, storage and liquids revenues offset lower utilization on the Trunkline, Gulf Run and Mississippi River systems.
ET's Investments Add to Earnings GrowthRevenues from the investment in the Sunoco LP segment increased 164.5% to $14.26 billion. The segment adjusted EBITDA more than doubled to $982 million, primarily reflecting recent acquisitions and higher contributions from unconsolidated affiliates.
The investment in USA Compression Partners generated revenues of $342 million, up 36.8%. The segment adjusted EBITDA advanced 30.2% to $194 million, driven by the J-W Power acquisition and growth in USAC's legacy operations.
ET's Operational HighlightsTotal costs and expenses were $30.76 billion, up 81.7% year over year, mainly due to a sharp increase in the cost of products sold. Operating expenses, depreciation, depletion and amortization, and selling, general and administrative expenses also increased.
Operating income rose 54.8% to $3.57 billion. Interest expense, net of capitalized interest, increased 8% to $934 million. Net income attributable to partners advanced 79.5% to $2.09 billion.
ET's Cash Flow and Liquidity ImproveAdjusted EBITDA increased 31% to $5.07 billion. Distributable cash flow attributable to partners, as adjusted, rose 32% to $2.59 billion. Second-quarter growth capital expenditures were $1.10 billion, while maintenance capital expenditures were $307 million.
Current assets totaled $23.11 billion at June 30, 2026, compared with $18.23 billion at the end of 2025. Long-term debt, less current maturities, was $68.39 billion. The revolving credit facility had $3.76 billion of available borrowing capacity.
Energy Transfer Raises 2026 Financial GuidanceEnergy Transfer now expects 2026 adjusted EBITDA of $18.8-$19.1 billion, up from the prior range of $18.2-$18.6 billion. The partnership projects growth capital spending of $5.6-$5.9 billion.
The Hugh Brinson Pipeline entered commercial service and is expected to reach full Phase I capacity of 1.5 Bcf per day by Sept. 1, 2026. ET also completed upgrades adding more than 90,000 barrels per day of capacity to the Lone Star Express pipeline and placed the Mustang Draw I processing plant into service.
How Have Estimates Been Moving Since Then?Since the earnings release, investors have witnessed a upward trend in estimates revision.
The consensus estimate has shifted 12.93% due to these changes.
VGM ScoresAt this time, Energy Transfer LP has a great Growth Score of A, a score with the same score on the momentum front. Following the exact same course, the stock was allocated a grade of A on the value side, putting it in the top quintile for value investors.
Overall, the stock has an aggregate VGM Score of A. If you aren't focused on one strategy, this score is the one you should be interested in.
OutlookEstimates have been broadly trending upward for the stock, and the magnitude of these revisions looks promising. Interestingly, Energy Transfer LP has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Performance of an Industry PlayerEnergy Transfer LP belongs to the Zacks Oil and Gas - Production Pipeline - MLB industry. Another stock from the same industry, Oneok Inc. (OKE - Free Report) , has gained 10.1% over the past month. More than a month has passed since the company reported results for the quarter ended June 2026.
Oneok reported revenues of $12.05 billion in the last reported quarter, representing a year-over-year change of +52.8%. EPS of $1.53 for the same period compares with $1.34 a year ago.
For the current quarter, Oneok is expected to post earnings of $1.49 per share, indicating no change from the year-ago quarter. The Zacks Consensus Estimate has changed +2.4% over the last 30 days.
Oneok has a Zacks Rank #3 (Hold) based on the overall direction and magnitude of estimate revisions. Additionally, the stock has a VGM Score of B.
Blackhill Capital ve 2. čtvrtletí zvýšil podíl v Energy Transfer o 33,3 % na 1,6 milionu akcií po nákupu dalších 400 000 kusů. Hodnota pozice dosáhla 30,592 milionu USD.
Blackhill Capital Inc. grew its position in Energy Transfer LP (NYSE:ET – Free Report) by 33.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,600,000 shares of the pipeline company’s stock after purchasing an additional 400,000 shares during the period. Energy Transfer makes up approximately 1.3% of Blackhill Capital Inc.’s investment portfolio, making the stock its 6th largest holding. Blackhill Capital Inc.’s holdings in Energy Transfer were worth $30,592,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently modified their holdings of ET. Archer Investment Corp raised its position in Energy Transfer by 2,087.8% in the 2nd quarter. Archer Investment Corp now owns 17,502 shares of the pipeline company’s stock valued at $335,000 after buying an additional 16,702 shares during the last quarter. Kingsview Wealth Management LLC boosted its position in Energy Transfer by 4.9% during the 2nd quarter. Kingsview Wealth Management LLC now owns 199,171 shares of the pipeline company’s stock worth $3,808,000 after acquiring an additional 9,254 shares during the last quarter. Beacon Pointe Advisors LLC boosted its position in Energy Transfer by 7.4% during the 2nd quarter. Beacon Pointe Advisors LLC now owns 2,065,797 shares of the pipeline company’s stock worth $39,498,000 after acquiring an additional 142,821 shares during the last quarter. Asset Allocation Strategies LLC grew its stake in shares of Energy Transfer by 1.7% during the 2nd quarter. Asset Allocation Strategies LLC now owns 45,234 shares of the pipeline company’s stock worth $865,000 after acquiring an additional 738 shares in the last quarter. Finally, Centaurus Financial Inc. grew its stake in shares of Energy Transfer by 173.7% during the 2nd quarter. Centaurus Financial Inc. now owns 40,727 shares of the pipeline company’s stock worth $779,000 after acquiring an additional 25,847 shares in the last quarter. 38.22% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling at Energy Transfer In related news, Director Kelcy L. Warren acquired 647,968 shares of Energy Transfer stock in a transaction on Wednesday, August 19th. The stock was purchased at an average cost of $21.26 per share, with a total value of $13,775,799.68. Following the completion of the transaction, the director directly owned 147,901,879 shares in the company, valued at $3,144,393,947.54. This trade represents a 0.44% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James Richard Perry acquired 12,359 shares of the firm’s stock in a transaction on Friday, August 7th. The stock was bought at an average price of $20.23 per share, for a total transaction of $250,022.57. Following the completion of the acquisition, the director owned 208,046 shares of the company’s stock, valued at approximately $4,208,770.58. The trade was a 6.32% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired a total of 1,012,359 shares of company stock valued at $21,513,543 in the last ninety days. Insiders own 3.28% of the company’s stock.
Analyst Ratings Changes ET has been the topic of a number of research reports. Wall Street Zen raised shares of Energy Transfer from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Barclays reaffirmed an “overweight” rating and issued a $24.00 target price (up from $23.00) on shares of Energy Transfer in a research report on Wednesday, August 5th. Raymond James Financial reiterated a “strong-buy” rating on shares of Energy Transfer in a research note on Wednesday, May 6th. Truist Financial boosted their price target on shares of Energy Transfer from $23.00 to $25.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. Finally, TD Cowen restated a “buy” rating and set a $25.00 price objective (up from $24.00) on shares of Energy Transfer in a research note on Monday, August 10th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.08. Get Our Latest Stock Report on ET
Energy Transfer Stock Down 0.4% Energy Transfer stock opened at $21.30 on Friday. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.16 and a quick ratio of 0.94. The company’s 50-day moving average is $20.22 and its 200-day moving average is $19.52. The firm has a market capitalization of $73.34 billion, a PE ratio of 14.49, a P/E/G ratio of 0.75 and a beta of 0.55. Energy Transfer LP has a fifty-two week low of $16.18 and a fifty-two week high of $21.64.
Energy Transfer (NYSE:ET – Get Free Report) last issued its earnings results on Tuesday, August 4th. The pipeline company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.21. The business had revenue of $34.33 billion during the quarter, compared to the consensus estimate of $27.71 billion. Energy Transfer had a net margin of 4.87% and a return on equity of 11.55%. Energy Transfer’s revenue was up 78.4% on a year-over-year basis. During the same period last year, the business posted $0.32 EPS. Sell-side analysts anticipate that Energy Transfer LP will post 1.66 earnings per share for the current year.
Energy Transfer Increases Dividend The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 19th. Shareholders of record on Friday, August 7th were issued a dividend of $0.34 per share. The ex-dividend date of this dividend was Friday, August 7th. This represents a $1.36 annualized dividend and a yield of 6.4%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.34. Energy Transfer’s payout ratio is 92.52%.
Energy Transfer Company Profile (Free Report)
Energy Transfer (NYSE: ET) is a Dallas-based midstream energy company that develops and operates infrastructure for the transportation, storage and processing of hydrocarbons. The company’s operations focus on moving and storing natural gas, natural gas liquids (NGLs), crude oil and refined products through an integrated network of pipelines, terminals, storage facilities and processing plants. Energy Transfer provides core midstream services such as gathering, compression, fractionation, processing, and bulk transportation to support production and downstream supply chains.
Its asset base spans an extensive network across the United States, connecting producing regions, processing centers, petrochemical hubs and coastal and inland markets.
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Energy Transfer se stává jedním z největších dodavatelů zemního plynu pro datová centra spojená s AI. Má už několik smluv, včetně dodávek pro tři datová centra Oracle, Nexus a Crusoe.
If you were making a list of the companies cashing in on the AI data center build-out boom, a gas pipeline company known for paying dividends probably wouldn't be there. That could be a costly omission. Pipeline giant Energy Transfer (ET -0.33%) has quietly become one of the biggest natural gas suppliers to data centers. That's putting it in a strong position to cash in on the AI power boom.
Here's a closer look at why Energy Transfer should be on your AI investment list.
Image source: The Motley Fool.
Turning on the gasData centers need lots of power, and they need it quickly. The country's electric grid can't keep up with the load requirements or the need for speed. As a result, natural gas is becoming a critical solution to the AI power problem. A growing number of data center developers are turning to gas to fuel on-site power from gas turbines and fuel cells.
They're also turning to Energy Transfer as their gas supplier of choice. Its extensive gas infrastructure includes nearly 107,000 miles of pipelines linking supply sources to demand centers. It has signed several deals to supply gas to support AI data center demand.
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One of its biggest deals is with cloud giant Oracle. Energy Transfer will provide about 900,000 Mcf/d of natural gas to three of its U.S. data centers. Oracle is using this gas to power Bloom Energy's advanced fuel cells at one of the sites. It also has a 150,000 Mcf/d deal to supply Nexus with gas for an AI hyperscale campus currently under construction, and an agreement to supply gas to support a 900-megawatt AI factory campus for Crusoe. Additionally, it has an agreement to provide 150,000 Mcf/d of gas to a data center site in Arkansas.
Energy Transfer is also providing more gas to utilities to support growing power demand from AI data centers. It signed a 20-year deal with Entergy to provide at least 250,000 MMBtu/d of gas starting in December 2028. Entergy needs more gas to power data centers, including those Meta Platforms is building in Louisiana. Additionally, it's supplying a total of 300,000 Mcf/d of gas to four new gas-fired power plants in Oklahoma between now and the end of 2028.
High-return investmentsThose projects are only the beginning. Energy Transfer is in advanced discussions with multiple power plants, data centers, and other demand customers for significant additional gas volumes.
Most of its projects will involve building a pipeline lateral from its existing network to connect a new data center or power plant. These projects require a minimal capital investment and generate strong returns. Additionally, growing gas demand is enabling the company to make larger investments, including constructing larger-scale pipelines to transport additional volumes to demand centers and developing additional gathering and processing infrastructure in production basins. Energy Transfer currently has several large-scale gas pipelines under construction, including the $2.7 billion Hugh Brinson and up to $5.6 billion Desert Southwest to support data center and power demand growth in Texas and Arizona, respectively. These larger-scale projects have strong returns.
These investments support Energy Transfer's continued strong growth. It expects to grow its adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) by at least 17.5% this year. It currently has projects underway that should enter commercial service through early 2030, including those to support growing demand for oil and natural gas liquids. These projects give it strong growth visibility. That supports its view that it can increase its already high-yielding distribution (over 6%) by 3%-5% annually.
There are risks involved with this backlog. Energy Transfer recently ran into a permitting issue that will delay one Oracle-linked gas pipeline project by six months. There will likely also be delays to future data center developments due to local opposition and other issues. Despite that, gas-fueled onsite power remains a faster solution than waiting on the grid.
Don't overlook Energy TransferThe AI data center build-out story is broader than you might think. It's fueling robust demand for natural gas, which is benefiting sleepy pipeline stocks like Energy Transfer. The master limited partnership (an entity that issues a Schedule K-1 Federal tax form) is an overlooked way to cash in on the boom. That cash will come each quarter via its high-yielding payout.
Matt DiLallo has positions in Bloom Energy, Energy Transfer, and Meta Platforms and has the following options: long December 2028 $650 calls on Meta Platforms, short December 2028 $660 calls on Meta Platforms, and short October 2026 $150 puts on Bloom Energy. The Motley Fool has positions in and recommends Bloom Energy, Entergy, Meta Platforms, and Oracle. The Motley Fool has a disclosure policy.
Kelcy Warren, spoluzakladatel Energy Transfer, nakoupil 1,0 milionu jednotek 18. a 19. srpna 2026 poblíž 52týdenního maxima, což trh bere jako silný signál důvěry. Nákupy proběhly bez plánu 10b5-1.
Energy Transfer (NYSE:ET | ET Price Prediction) director and co-founder Kelcy Warren stepped into the open market on August 18 and August 19, 2026, personally directing the accumulation of a large block of common units at prices within pennies of the partnership’s 52-week high. The Form 4 disclosing the buys was filed with the SEC on August 20, 2026. The checkbox for a Rule 10b5-1 trading plan was not checked, meaning this was discretionary buying at Warren’s direction.
What the Filing Actually Says Warren is listed on the form only as Director. The transactions were coded P for open-market purchases. On August 18, 352,032 common units were acquired at a weighted average price of $21.27, with individual fills ranging from $21.175 to $21.30. On August 19, another 647,968 units were acquired at a weighted average of $21.26, with fills between $21.185 and $21.30. Both blocks were indirect, held through Kelcy Warren Partners, a limited partnership owned by Warren, who disclaims beneficial ownership except to the extent of his pecuniary interest. Units owned by that entity following the two transactions stood at 147,901,879.
Buying Into Strength at 52-Week Highs The signal here is unusual because Warren was buying at the highs. Energy Transfer traded around $21.26 on the morning of August 21, 2026, against a 52-week high of $21.64. The units are up 35.6% year to date, 6.5% over one month, 31.6% over one year, and 249.4% over five years. The market cap stands near $73.0 billion, with a beta of 0.562. Insiders typically buy on weakness for tax and psychological reasons. Buying at the highs, discretionarily, through an entity Warren controls, is a stronger signal of conviction about forward fundamentals than a routine dip-buy would be.
The Thesis the Numbers Support Energy Transfer is executing. Q2 2026 delivered EPS of $0.59 against a $0.37 estimate, with revenue of $34.33 billion, up 78.43% year over year. Adjusted EBITDA rose 31% to $5.07 billion, and management raised full-year 2026 guidance to $18.8 billion to $19.1 billion. Growth capital of $5.6 billion to $5.9 billion is being deployed into projects with visible demand. These include the Hugh Brinson Pipeline, Nederland NGL export expansion, and the Transwestern Desert Southwest upsizing. They also include long-term natural-gas supply to Oracle data centers ramping toward approximately 900 MMcf/d across three sites. The partnership just declared its 19th consecutive quarterly distribution increase, at $0.34 per common unit, or $1.36 annualized.
Should a Retirement Investor Follow? The setup is attractive on the numbers. Forward P/E is 13, the distribution yield is 6.4%, and the Wall Street consensus target is $24.48. That yield is also the kind that makes a mid-six-figure balance start generating meaningful monthly income. (We outline what that looks like at $250K in a free income guide.)
One important caveat for income investors: Energy Transfer is a limited partnership and issues a K-1 for tax reporting. That complicates tax filing, can create unrelated business taxable income inside IRAs above certain thresholds, and generally makes ET a better fit for a taxable brokerage account than a retirement wrapper. Warren’s buying at the highs, in size, without a 10b5-1 plan, is a genuine signal of conviction from the person who knows the asset base best. Retail investors who can accept the K-1 mechanics can currently transact within pennies of an insider’s weighted average fills, a data point worth monitoring alongside forward fundamentals.
Contact [email protected] for any questions or corrections.
Energy Transfer zvýšila celoroční výhled upraveného EBITDA na 18,8 až 19,1 miliardy USD po růstu distribučního cash flow o 32 % na 2,59 miliardy USD ve 2. čtvrtletí. Zároveň už 19. čtvrtletí po sobě zvýšila distribuci na 0,34 USD na akcii.
Since reporting its second-quarter 2026 financial results on Aug. 4, Energy Transfer (ET +1.40%) has seen its shares climb more than 2%, trading near its 52-week high of $21.11.
Before the announcement, Energy Transfer units were trading around $20.20 to $20.28. The question is whether the price rise in the energy stock can continue. Three reasons why it can, with one reason why it may not:
Image source: Getty Images.
Surging natural gas demand from data centers
Energy Transfer is a diverse midstream energy company and is uniquely positioned to capture massive, long-term demand for natural gas infrastructure driven by artificial intelligence (AI) data center build-outs, power grid expansions, and Gulf Coast natural gas liquids (NGL) export facilities. In the second quarter, management for the master limited partnership highlighted expanded takeaway capacity in key basins, including the Permian, ensuring high utilization across its expansive pipeline network.
The company reported that its 442-mile Hugh Brinson Pipeline has come online earlier than expected, though full capacity isn't expected until March 2027. The Brinson pipeline moves natural gas from processing facilities in West Texas to existing pipelines south of the Dallas-Fort Worth metroplex, allowing customers the ability to reach several destinations in Texas and Louisiana. As it was, in the second quarter, NGL exports were up 25% year over year, a company record.
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The company also completed upgrades to its Lone Star Express NGL pipeline and pressed into service its third and fourth 10-megawatt natural-gas-fired electricity generation plants. The company's power generation business serves 15 states with approximately 185 plants connected directly or indirectly via its extensive natural gas pipeline network. The company has long-term power agreements that directly or indirectly help hyperscalers such as Oracle, Cloudburst Technologies, and Meta Platforms.
It sees improvements to its free cash flow and capital returns
Energy Transfer reported distributable cash flow of $2.59 billion in the second quarter, up 32% year over year. That rise is what's behind the company's $500 million guidance hike to full-year adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA), now in the range of $18.8 billion to $19.1 billion, reflecting strong fee-based cash flows that insulate the business from short-term commodity price swings.
This expanding cash generation directly supports further leverage reduction and continued quarterly distribution growth for unitholders.
Despite its nearly more than 26% rise so far this year in price, the company continues to trade at a modest trailing enterprise-value-to-EBITDA multiple of around 9.7, low compared to its historical averages and its main midstream peers of Enbridge, Enterprise Products Partners, and Kinder Morgan. As institutional confidence improves following consistent operational execution and debt paydown, the stock has room for valuation re-rating.
The company's strong dividend
Energy Transfer just raised its distribution for the 19th consecutive quarter to $0.34 per share , and at the stock's current price, the yield is around 6.43%. That's superior to its main midstream competitors. If it matches its expected distributable cash flow, it has more than enough to cover its dividend and planned capital expenditures.
Watch for a drop in commodity prices
The price of natural gas has declined around 29% since peaking in late January. If sustained low natural gas prices or broader macroeconomic slowdowns force upstream oil and gas producers to trim drilling budgets or shut in production, gathering, and processing (G&P) volumes could contract.
While Energy Transfer relies heavily on fee-based, take-or-pay contracts, prolonged volume declines across regional basins would cap top-line growth and squeeze margins on uncommitted capacity.
Energy Transfer nabízí forwardový dividendový výnos 6,5 % a jeho distribuce kryje silný peněžní tok. Firma navíc zvýšila distribuci už 19 čtvrtletí po sobě.
Energy Transfer (ET +1.52%), one of the largest midstream pipeline companies in the United States, pays a forward yield of 6.5%. That yield might seem high, but it's supported by plenty of cash and long-term catalysts. Let's see why it's still a reliable income play for patient investors.
Why is Energy Transfer a reliable stock?
Energy Transfer operates more than 140,000 miles of pipeline across 44 states. It transports natural gas, liquefied natural gas (LNG), natural gas liquids (NGLs), crude oil, and other refined products, and helps companies export some of their natural gas products.
Image source: Getty Images.
As a pipeline operator, Energy Transfer generates most of its revenue by charging upstream producers and downstream refineries "tolls" to use its infrastructure. That business model is insulated from volatile commodity prices because it only needs those resources to keep flowing through its pipes. However, the soaring demand for oil and natural gas continued to boost crude oil and NGL volumes to record levels in the first half of 2026. It also secured more long-term agreements with utilities and data centers to supply natural gas for the booming cloud infrastructure and artificial intelligence (AI) markets.
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How stable are its distributions?
Energy Transfer is a Master Limited Partnership (MLP), which technically treats you as a partner rather than a regular shareholder. It blends a return of capital with its own cash to pay more tax-efficient distributions instead of traditional dividends. Still, you'll need to report that income separately on a K-1 form every year when you file your taxes.
Energy Transfer, like other MLPs, covers its distributions with its distributable cash flow (DCF). Its DCF has easily covered its total distributions over the past few years, even as the pandemic, inflation, soaring interest rates, and geopolitical conflicts rattled the commodities market.
Metric (Billions USD)
2020
2021
2022
2023
2024
2025
Adjusted Annualized DCF
$5.74
$8.22
$7.45
$7.58
$8.36
$8.21
Total Distributions
$2.47
$1.78
$3.09
$3.99
$4.39
$4.56
Data source: Energy Transfer.
Energy Transfer has raised its payout for 19 consecutive quarters, and it plans to raise its distribution at an annual rate of 3% to 5% as long as its coverage ratio (its adjusted DCF to distributions) -- which came in at 1.8x in 2025 -- stays around that level. That's why it's a reliable income stock, even if it pays a higher yield than many other pipeline companies.
Leo Sun has positions in Energy Transfer. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
Ballast Inc. ve 2. čtvrtletí koupila novou pozici v Energy Transfer: 43 000 akcií za zhruba 822 000 USD. Firma zároveň oznámila čtvrtletní dividendu 0,34 USD na akcii.
Ballast Inc. bought a new position in shares of Energy Transfer LP (NYSE:ET – Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 43,000 shares of the pipeline company’s stock, valued at approximately $822,000.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ET. Tema ETFs LLC increased its holdings in Energy Transfer by 47.5% in the 2nd quarter. Tema ETFs LLC now owns 1,366,371 shares of the pipeline company’s stock valued at $26,125,000 after buying an additional 440,228 shares during the period. Redhawk Wealth Advisors Inc. lifted its holdings in shares of Energy Transfer by 48.9% during the 2nd quarter. Redhawk Wealth Advisors Inc. now owns 45,068 shares of the pipeline company’s stock worth $862,000 after acquiring an additional 14,795 shares during the period. Harrell Investment Partners LLC lifted its holdings in shares of Energy Transfer by 55.8% during the 2nd quarter. Harrell Investment Partners LLC now owns 21,928 shares of the pipeline company’s stock worth $419,000 after acquiring an additional 7,857 shares during the period. Focus Financial Network Inc. lifted its holdings in shares of Energy Transfer by 42.2% during the 2nd quarter. Focus Financial Network Inc. now owns 30,048 shares of the pipeline company’s stock worth $575,000 after acquiring an additional 8,916 shares during the period. Finally, Allied Private Wealth LLC acquired a new stake in shares of Energy Transfer during the 2nd quarter valued at about $229,000. 38.22% of the stock is currently owned by institutional investors.
Energy Transfer Stock Up 0.7% ET opened at $20.93 on Thursday. The firm’s 50-day simple moving average is $19.71 and its 200-day simple moving average is $19.28. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.94 and a current ratio of 1.16. Energy Transfer LP has a twelve month low of $16.18 and a twelve month high of $20.96. The firm has a market cap of $72.07 billion, a price-to-earnings ratio of 14.24, a PEG ratio of 2.04 and a beta of 0.55.
Energy Transfer (NYSE:ET – Get Free Report) last announced its earnings results on Tuesday, August 4th. The pipeline company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.21. The business had revenue of $34.33 billion during the quarter, compared to analysts’ expectations of $27.71 billion. Energy Transfer had a net margin of 4.87% and a return on equity of 11.55%. The firm’s revenue for the quarter was up 78.4% on a year-over-year basis. During the same quarter last year, the company posted $0.32 EPS. Equities research analysts anticipate that Energy Transfer LP will post 1.52 EPS for the current fiscal year.
Energy Transfer Increases Dividend The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 19th. Stockholders of record on Friday, August 7th will be issued a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 6.5%. The ex-dividend date of this dividend is Friday, August 7th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.34. Energy Transfer’s dividend payout ratio (DPR) is presently 92.52%.
Analyst Upgrades and Downgrades A number of research firms recently weighed in on ET. Raymond James Financial reissued a “strong-buy” rating on shares of Energy Transfer in a research note on Wednesday, May 6th. Scotiabank restated an “outperform” rating on shares of Energy Transfer in a research note on Tuesday, May 12th. Weiss Ratings raised Energy Transfer from a “buy (b)” rating to a “buy (b+)” rating in a report on Tuesday. Barclays reiterated an “overweight” rating and issued a $24.00 price objective (up from $23.00) on shares of Energy Transfer in a research note on Wednesday, August 5th. Finally, TD Cowen reissued a “buy” rating and issued a $25.00 target price (up from $24.00) on shares of Energy Transfer in a report on Monday. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Energy Transfer has an average rating of “Buy” and a consensus target price of $23.92.
View Our Latest Analysis on ET
Insider Buying and Selling In other Energy Transfer news, Director James Richard Perry purchased 12,359 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The shares were acquired at an average cost of $20.23 per share, for a total transaction of $250,022.57. Following the transaction, the director directly owned 208,046 shares in the company, valued at approximately $4,208,770.58. The trade was a 6.32% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. 3.28% of the stock is currently owned by company insiders.
About Energy Transfer (Free Report)
Energy Transfer (NYSE: ET) is a Dallas-based midstream energy company that develops and operates infrastructure for the transportation, storage and processing of hydrocarbons. The company’s operations focus on moving and storing natural gas, natural gas liquids (NGLs), crude oil and refined products through an integrated network of pipelines, terminals, storage facilities and processing plants. Energy Transfer provides core midstream services such as gathering, compression, fractionation, processing, and bulk transportation to support production and downstream supply chains.
Its asset base spans an extensive network across the United States, connecting producing regions, processing centers, petrochemical hubs and coastal and inland markets.
Further Reading Five stocks we like better than Energy Transfer GE Vernova’s AI Power Boom Faces a Profit Test Cardinal Health Earnings: Can Perfection Get Priced In Twice? Nebius’ Q2 Beat Shows the AI Bottleneck Is Capacity, Not Demand Legacy Jet Builders Stall While Embraer Accelerates to New Highs Want to see what other hedge funds are holding ET? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Energy Transfer LP (NYSE:ET – Free Report).
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Energy Transfer zvýšila dividendu už 19 čtvrtletí po sobě a výnos akcie činí 6,7 %. Firma zároveň zvedla výhled upraveného EBITDA pro rok 2026 na 18,8 až 19,1 miliardy USD.
Recently, there's been a flurry of positive dividend activity in the midstream energy sector with both well-known and lesser-heralded pipeline firms boosting payouts.
Energy Transfer (ET +2.29%) is one of the guests at the midstream dividend increase party. Following a July distribution increase of nearly 1%, Energy Transfer's consecutive streak of boosted payouts now spans an impressive 19 quarters, or nearly five years for those keeping score at home. Typically, Energy Transfer delivers gentle upside nudges to its dividend, and investors love the consistency.
Energy Transfer continues raising its dividend and investors should expect that trend to continue. Image source: Getty Images.
Plus, those modest increases add up over time. The stock yields 6.7% and, by some estimates, if its current trajectory of dividend increases continues, the dividend could nearly double over the next decade. That'd be music to the ears of long-term investors. Fortunately, this pipeline stock has the fundamentals to keep good dividend times coming.
Stars aligning for dividend growth Not only did Energy Transfer announce a dividend increase in July, but it also followed that up with a second-quarter earnings report and updated 2026 guidance confirming the distribution is on solid ground and poised for long-term growth.
In the June quarter, Energy Transfer's distributable cash flow (DCF), one of the bedrocks of pipeline operators' dividends, climbed to $2.59 billion from $1.96 billion a year earlier. The midstream company's DCF could continue to improve in the current quarter and beyond, driven by the revised 2026 guidance. Energy Transfer told investors it now expects 2026 full-year adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) of $18.8 billion to $19.1 billion, up from a prior forecast of $18.2 billion to $18.6 billion.
Regardless of sector, if there's anything that investors should demand of dividend-paying companies, it's rising earnings and cash flow. Those are telltale signs that current dividend obligations can be met and that payouts can grow over the long term.
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Longer-ranging support for the distribution doesn't end there. Energy Transfer is a diverse midstream operator with exposure to natural gas liquids (NGLs) and oil transportation as well as midstream gathering. That diversity matters for multiple reasons. First, management sounded optimistic about improving finances across its various segments. Second, in just a year, NGL projects went from out of fashion to being in high demand, indicating that Energy Transfer's related investments could pay dividends (pun intended).
AI angles Investors seeking artificial intelligence (AI) "derivative" exposure while balancing low-yielding, growth-heavy portfolios with income-generating assets should look to the midstream sector, including Energy Transfer.
All those high-priced data centers need power, but it can take years for traditional utilities to obtain all the permits required to deliver grid power to data centers. Guess which companies are adept at transporting energy? Pipeline operators such as Energy Transfer.
On the company's second-quarter earnings conference call, co-CEO Thomas Long said customers are expressing interest in upping their commitments for Energy Transfer's services that deliver energy to data centers and nearby power facilities. He also mentioned "advanced negotiations" with customers in six states to provide additional natural gas volumes.
Imagine capturing steady dividends while participating in the AI trade. With Energy Transfer, that's a reality, not a dream.
Bank of New York Mellon Corp v 1. čtvrtletí snížila svůj podíl v Energy Transfer o 37,2 % a prodala 102 593 akcií.
Po prodeji společnost držela 172 971 akcií v hodnotě 3,338,000 USD.
Bank of New York Mellon Corp reduced its stake in shares of Energy Transfer LP (NYSE:ET – Free Report) by 37.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 172,971 shares of the pipeline company’s stock after selling 102,593 shares during the quarter. Bank of New York Mellon Corp’s holdings in Energy Transfer were worth $3,338,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in the stock. Brighton Jones LLC lifted its holdings in Energy Transfer by 93.4% in the fourth quarter. Brighton Jones LLC now owns 24,530 shares of the pipeline company’s stock worth $481,000 after buying an additional 11,844 shares during the period. AQR Capital Management LLC lifted its stake in shares of Energy Transfer by 62.8% in the 1st quarter. AQR Capital Management LLC now owns 21,041 shares of the pipeline company’s stock valued at $391,000 after purchasing an additional 8,118 shares during the period. Geode Capital Management LLC boosted its position in shares of Energy Transfer by 6.2% during the second quarter. Geode Capital Management LLC now owns 135,395 shares of the pipeline company’s stock valued at $2,455,000 after purchasing an additional 7,901 shares in the last quarter. Russell Investments Group Ltd. boosted its position in shares of Energy Transfer by 436.5% during the second quarter. Russell Investments Group Ltd. now owns 4,179 shares of the pipeline company’s stock valued at $76,000 after purchasing an additional 3,400 shares in the last quarter. Finally, Guggenheim Capital LLC boosted its position in shares of Energy Transfer by 5.6% during the second quarter. Guggenheim Capital LLC now owns 50,919 shares of the pipeline company’s stock valued at $923,000 after purchasing an additional 2,700 shares in the last quarter. 38.22% of the stock is currently owned by institutional investors.
Energy Transfer Stock Performance ET opened at $20.14 on Friday. The company has a 50 day simple moving average of $19.63 and a two-hundred day simple moving average of $19.21. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.17 and a quick ratio of 0.93. The firm has a market cap of $69.29 billion, a P/E ratio of 13.70, a PEG ratio of 2.03 and a beta of 0.55. Energy Transfer LP has a 1-year low of $16.18 and a 1-year high of $20.81.
Energy Transfer (NYSE:ET – Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The pipeline company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.38 by $0.21. Energy Transfer had a net margin of 4.87% and a return on equity of 11.71%. The firm had revenue of $34.33 billion for the quarter, compared to the consensus estimate of $27.71 billion. During the same period last year, the firm earned $0.32 EPS. The company’s revenue was up 78.4% on a year-over-year basis. Equities analysts forecast that Energy Transfer LP will post 1.52 earnings per share for the current fiscal year.
Energy Transfer Increases Dividend The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 19th. Stockholders of record on Friday, August 7th will be paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 6.8%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend is Friday, August 7th. Energy Transfer’s dividend payout ratio is currently 91.84%.
Analysts Set New Price Targets A number of brokerages have recently commented on ET. Royal Bank Of Canada restated an “outperform” rating and set a $23.00 target price (up from $21.00) on shares of Energy Transfer in a report on Tuesday, July 21st. TD Cowen reissued a “buy” rating and set a $24.00 price target (up from $23.00) on shares of Energy Transfer in a research report on Thursday, July 16th. Morgan Stanley boosted their price objective on shares of Energy Transfer from $21.00 to $23.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 27th. Jefferies Financial Group restated a “buy” rating on shares of Energy Transfer in a report on Wednesday. Finally, Citigroup reaffirmed a “buy” rating and set a $24.00 target price (up from $23.00) on shares of Energy Transfer in a research note on Friday. Three equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $23.67.
Check Out Our Latest Stock Analysis on ET
Energy Transfer News Summary Here are the key news stories impacting Energy Transfer this week:
Positive Sentiment: Strong second-quarter results and higher distribution: Energy Transfer reported second-quarter 2026 sales of $34.33 billion and net income of $2.09 billion, while earnings per unit exceeded expectations. The partnership also raised its quarterly cash distribution to $0.34 per common unit, reinforcing its income appeal. Did Strong Q2 Results and a Higher Payout Just Shift Energy Transfer’s Investment Narrative? Positive Sentiment: Growth outlook remains constructive: Analysts point to rising NGL exports, high pipeline and fractionator utilization, multi-year export commitments, and an accelerated capital-spending program as drivers of future EBITDA and distribution growth. Management continues to target roughly 3%–5% annual distribution growth while maintaining leverage near 4.0–4.5 times EBITDA. Energy Transfer Is Now Finally Firing on All Growth Cylinders Positive Sentiment: Value and income appeal: Zacks identified ET as a highly ranked value stock, while other coverage emphasized its approximately 6.6% distribution yield and improving profits. The combination of valuation support, cash income, and recent earnings beats could attract yield-focused investors. Energy Transfer Is a Top-Ranked Value Stock Negative Sentiment: Natural-gas market weakness: Natural-gas futures fell after a larger-than-expected storage build. Lower commodity prices can weigh on sentiment toward energy companies, although Energy Transfer’s fee-based pipeline, storage, and NGL businesses help reduce its direct exposure to gas-price volatility. Nat-Gas Prices Tumble on a Larger-Than-Expected Storage Build Energy Transfer Company Profile (Free Report)
Energy Transfer (NYSE: ET) is a Dallas-based midstream energy company that develops and operates infrastructure for the transportation, storage and processing of hydrocarbons. The company’s operations focus on moving and storing natural gas, natural gas liquids (NGLs), crude oil and refined products through an integrated network of pipelines, terminals, storage facilities and processing plants. Energy Transfer provides core midstream services such as gathering, compression, fractionation, processing, and bulk transportation to support production and downstream supply chains.
Its asset base spans an extensive network across the United States, connecting producing regions, processing centers, petrochemical hubs and coastal and inland markets.
See Also Five stocks we like better than Energy Transfer Datadog’s Drop Says More About Expectations Than Earnings D-Wave’s Quantum Breakthrough Couldn’t Save QBTS From a Sell-Off Cloudflare’s Beat-and-Raise Quarter Puts Its AI Edge Story in Focus Solventum Nears Inflection Point As It Begins to Unlock Value Want to see what other hedge funds are holding ET? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Energy Transfer LP (NYSE:ET – Free Report).
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As a huge energy arbitrageur, Energy Transfer (ET +0.05%) is one of the best companies in the world at benefiting from energy market volatility. That showed up when the master limited partnership (MLP) reported its Q2 results and once again raised its full-year forecast. The stock is now up about 25% on the year.
Let's dig into the midstream company's results and why the stock still looks like a buy.
Image source: The Motley Fool.
Strong growth ahead In my view, Energy Transfer is one of the most attractive high-yield stocks in the market today. It currently sports a 6.7% yield and intends to raise its distribution by 3% to 5% annually. It has one of the lowest valuations in the midstream MLP segment and some of the best growth opportunities.
Energy Transfer's growth opportunities stem from its robust project backlog. It plans to spend between $5.6 billion and $5.9 billion in growth capital expenditures (capex) this year, with a focus on natural gas infrastructure. That's a significant increase from the $4.5 billion on capex it spent in 2025. These projects are all supported by long-term contracts and are expected to generate mid-teen returns.
Meanwhile, Phase 1 of its Hugh Brinson Pipeline is now in service, earlier than expected, with full capacity anticipated by Sept. 1. Phase 2 is set to come online in Q1 of next year. This is one of Energy Transfer's most important projects, linking natural gas from the West Texas Permian Basin to access points throughout Texas and connecting it with its other pipelines to reach additional states. It will contribute to growth this year and become a bigger contributor in 2027.
Turning to Energy Transfer's Q2 results, its adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) soared by 31% year over year to $5.07 billion. It saw strength across its five segments, led by its NGL (natural gas liquids) and refined products segment, where adjusted EBITDA climbed 30% to $1.3 billion. This was driven by record exports from the Nederland and Marcus Hook terminals, higher NGL premiums, and better margins from its product optimization and blending operations.
Distributable cash flow to partners, which is operating cash flow minus maintenance capex, climbed 32% to $2.59 billion, up from $1.96 billion a year ago. It paid out $1.17 billion in distributions in the quarter, good for a coverage ratio of 2.2 times, demonstrating that its current distribution appears secure.
The company also once again significantly increased its full-year EBITDA forecast, taking it to a range of $18.8 billion to $19.1 billion. That's up from an earlier projection of $18.2 billion to $18.6 billion and well above its original forecast of $17.3 billion to $17.7 billion. It said additional upside to its forecast will depend on the duration and impact of current market disruptions.
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Still a top high-yield stock to buy Energy Transfer is one of the best combinations of growth and income stocks in the market today. Although some of its outperformance is driven by energy market volatility, the company has always been great at profiting from it, whether due to war, weather, regional or product differentials, or anything else. These opportunities are not always there, but they also are not infrequent.
At the same time, the company has a very robust, high-return project pipeline. Based on its comments, the company's capex this year alone could add more than $900 million in EBITDA once these projects are all up and running. They will come on at different times, but this should be a nice growth driver in the years ahead.
Energy Transfer is also one of the most attractively valued midstream MLPs, trading at a forward enterprise value-to-EBITDA multiple of just 8.5 times. That is a big discount to other MLPs like Plains All American Partners and MPLX , which both trade at more than 11.5 times, and Enterprise Products Partners, which trades at 10.5 times.
As the cheapest midstream MLP with some of the best growth prospects, Energy Transfer is a top stock to own.
In its upcoming report, Energy Transfer LP (ET - Free Report) is predicted by Wall Street analysts to post quarterly earnings of $0.39 per share, reflecting an increase of 21.9% compared to the same period last year. Revenues are forecasted to be $31.09 billion, representing a year-over-year increase of 61.6%.
The consensus EPS estimate for the quarter has undergone an upward revision of 2.2% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.
Before a company announces its earnings, it is essential to take into account any changes made to earnings estimates. This is a valuable factor in predicting the potential reactions of investors toward the stock. Empirical research has consistently shown a strong correlation between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors typically rely on consensus earnings and revenue estimates to gauge how the business may have fared during the quarter, examining analysts' projections for some of the company's key metrics often helps gain a deeper insight.
Given this perspective, it's time to examine the average forecasts of specific Energy Transfer LP metrics that are routinely monitored and predicted by Wall Street analysts.
Based on the collective assessment of analysts, 'Midstream - Gathered volumes' should arrive at 22052 billion british thermal units per day. The estimate is in contrast to the year-ago figure of 21329 billion british thermal units per day.
According to the collective judgment of analysts, 'Midstream - NGLs produced' should come in at 1,184.63 thousands of barrels of oil per day. The estimate is in contrast to the year-ago figure of 1,181.00 thousands of barrels of oil per day.
Analysts predict that the 'Midstream - Equity NGLs' will reach 64.78 thousands of barrels of oil per day. The estimate is in contrast to the year-ago figure of 64.00 thousands of barrels of oil per day.
Analysts expect 'NGL and Refined Products Transportation and Services - NGL transportation volumes' to come in at 2,472.83 thousands of barrels of oil per day. Compared to the present estimate, the company reported 2,331.00 thousands of barrels of oil per day in the same quarter last year.
The combined assessment of analysts suggests that 'NGL and Refined Products Transportation and Services - Refined products transportation volumes' will likely reach 592.25 thousands of barrels of oil per day. Compared to the present estimate, the company reported 599.00 thousands of barrels of oil per day in the same quarter last year.
The average prediction of analysts places 'NGL and Refined Products Transportation and Services - NGL and refined products terminal volumes' at 1,782.19 thousands of barrels of oil per day. The estimate compares to the year-ago value of 1,553.00 thousands of barrels of oil per day.
The consensus estimate for 'NGL and Refined Products Transportation and Services - NGL fractionation volumes' stands at 1,241.74 thousands of barrels of oil per day. Compared to the current estimate, the company reported 1,150.00 thousands of barrels of oil per day in the same quarter of the previous year.
It is projected by analysts that the 'Adjusted EBITDA- Investment in USAC' will reach $192.43 million. The estimate compares to the year-ago value of $149.00 million.
The consensus among analysts is that 'Adjusted EBITDA- Intrastate transportation and storage' will reach $372.16 million. The estimate compares to the year-ago value of $284.00 million.
Analysts forecast 'Adjusted EBITDA- Interstate transportation and storage' to reach $474.73 million. The estimate is in contrast to the year-ago figure of $470.00 million.
Analysts' assessment points toward 'Adjusted EBITDA- Investment in Sunoco LP' reaching $844.40 million. The estimate compares to the year-ago value of $454.00 million.
The collective assessment of analysts points to an estimated 'Adjusted EBITDA- NGL and refined products transportation and services' of $1.13 billion. Compared to the current estimate, the company reported $1.03 billion in the same quarter of the previous year.
View all Key Company Metrics for Energy Transfer LP here>>>
Over the past month, shares of Energy Transfer LP have returned +5.3% versus the Zacks S&P 500 composite's +0.2% change. Currently, ET carries a Zacks Rank #3 (Hold), suggesting that its performance may align with the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
Energy Transfer (ET +1.46%) has become a very reliable income investment over the past few years. The master limited partnership (MLP), which sends a Schedule K-1 Federal tax form each year, just notched its 19th consecutive quarterly dividend increase. That pay bump pushes its current yield up to 6.8%.
Here's a look at whether now's the time to buy the high-yielding MLP for income.
Image source: The Motley Fool.
Built back better Energy Transfer recently declared its latest cash distribution. The MLP is raising its quarterly payment to $0.34 per unit ($1.36 annualized), a more than 3% increase compared to the year-ago period. It will pay this distribution on Aug. 19 to unitholders of record as of the close of business on Aug. 7.
That's the 19th quarterly increase in a row. The pipeline company began raising its distribution in late 2021, following a 50% cut in early 2020 to retain additional cash and strengthen its financial position. That strategy has worked to perfection as Energy Transfer is now in the best financial shape in its history. That has allowed it to steadily rebuild its distribution, which is now well above the prior peak of $1.22 per unit.
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Plenty of fuel to continue growing Energy Transfer currently plans to grow its distribution by 3% to 5% per year. That's a very achievable level for the MLP. It currently generates significant excess free cash after paying distributions ($2.7 billion in distributable cash flow in the first quarter, compared to less than $1.2 billion in total distributions paid). That's enabling it to retain substantial excess free cash flow to fund its growth capital program.
The MLP currently expects to invest between $5.5 billion and $5.9 billion into growth capital projects this year. That's part of a multi-year, multi-billion-dollar expansion backlog, with projects expected to enter commercial service through 2030, including $9.5 billion of major gas pipeline projects. It also has many smaller-scale gas pipeline projects underway, as well as crude oil and natural gas liquids (NGL) projects. Meanwhile, it has several additional projects under development to support growing gas power demand, NGL exports, and U.S. oil production. These projects should drive meaningful earnings and cash flow growth as they enter commercial service. The MLP currently expects to grow its adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) by 15% at the midpoint of its guidance range this year. This growth should support its distribution growth plan.
Time to buy the high-yielding MLP? Energy Transfer's strong growth has fueled a more than 20% increase in its unit price this year. Despite that, it trades at the lowest valuation among its MLP peers at 8.5 times forward earnings (compared to the 9.5x-11.5x range). Given its strong growth prospects and financial profile, Energy Transfer looks like a great buy right now. It should continue delivering a growing income stream along with solid price appreciation as its earnings grow, which should fuel high-octane total returns in the coming years.
SummaryEnergy Transfer is upgraded to Strong Buy as project execution risks diminish and EBITDA guidance rises, with no valuation expansion since March.Q1 EBITDA grew ~20% YoY to ~$4.9b, with underlying structural growth and a raised full-year EBITDA guidance to $18.4b–$18.6b.Major projects, including NGL de-bottlenecking and the Hugh Brinson Pipeline, are tracking ahead or on schedule, supporting further EBITDA accretion.Valuation remains compressed at ~8.55x EV/EBITDA, while upcoming project milestones and sustained distribution coverage position ET for potential rerating. matejmo/iStock via Getty Images
In March I had rated Energy Transfer (ET) a Buy and had stopped just short of a Strong Buy because I was watching progress in the large capex builds underway at
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Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.
Wall Street analytici vyzdvihují dividendové tituly ConocoPhillips, Energy Transfer a Chevron jako zdroj stabilního příjmu. COP nabízí výnos 3 %, ET 6,8 % a CVX 3,92 %.
The ongoing earnings season, investor concerns about the durability of AI demand and spending, and geopolitical risks are key factors that have been contributing to stock market volatility in recent trading sessions.
In this scenario, investors seeking steady income can consider adding dividend stocks to their portfolios. Recommendations of top Wall Street analysts can help them pick attractive dividend stocks that are backed by solid cash flows to support consistent payments.
Here are three dividend-paying stocks that are highlighted by Wall Street's top pros, as tracked by TipRanks, a platform that ranks analysts based on their past performance.
ConocoPhillips Oil and gas exploration and production company ConocoPhillips is this week's first dividend pick. With a dividend of 84 cents per share (annualized dividend of $3.36 per share), COP offers a dividend yield of 3%. The company is scheduled to announce its second-quarter results on Aug. 6.
Ahead of second-quarter results, Wells Fargo analyst Sam Margolin reiterated a buy rating on COP stock with a price target of $183. Despite the pressure on oil prices from an increase in OPEC production quota, the analyst finds ConocoPhillips and Shell stocks appealing as the earnings season approaches. He cited their operational visibility and resilience as factors backing their appeal.
The 5-star analyst expects ConocoPhillips to meet its production guidance of 2.2 million barrels of oil equivalent per day at the mid-point. He expects lower Waha natural gas prices in the Permian Basin to be offset by stronger Brent crude premiums. Margolin expects capital expenditure to remain within COP's prior guided range of $12.2 billion annualized, with no significant impact on spending on the Northfield East project in Qatar despite the Strait of Hormuz disruption.
Overall, Margolin expects COP to generate about $3.5 billion in free cash flow (before working capital) and earnings per share of $2.94. He expects continued strength in COP's free cash flow and regular dividend growth through the completion of the Willow project in 2028/2029. Prior to the Willow project coming online, the analyst expects free cash flow to grow by about $2 billion in 2027 and 2028, assuming Brent crude averages around $60 per barrel.
"COP's track record of capital efficiency and strong Permian well productivity underpins its ability to pursue long-cycle developments," said Margolin.
Margolin ranks No. 457 among more than 12,300 analysts tracked by TipRanks. His ratings have been successful 70% of the time, delivering an average return of 13.3%. See ConocoPhillips Financials on TipRanks.
Energy TransferEnergy Transfer is a limited partnership that operates 140,000 miles of pipeline and associated energy infrastructure. With a quarterly cash distribution of 33.75 cents per common unit ($1.35 per unit on an annualized basis), ET offers a yield of 6.8%.
Heading into Energy Transfer's Q2 earnings on Aug. 4, Jefferies analyst Julien Dumoulin-Smith reaffirmed a buy rating on ET stock with a price target of $23. The analyst noted that his adjusted earnings before interest, taxes, depreciation, and amortization estimate of $4.46 billion is 1% below the Street's consensus of $4.49 billion.
The 5-star analyst noted that Energy Transfer has slightly outperformed Enterprise Products Partners recently. However, it still trades at a relative discount of 19% compared to EPD, which is below its historical discount range of 17%-20%. Smith believes that ET stock could be re-rated higher if the company provides a clearer long-term strategy for natural gas growth.
Furthermore, Smith expects the current energy market to support a stronger outlook for natural gas liquids and crude oil. "The current energy macro backdrop positions ET to benefit in all three commodities," said the analyst.
He expects Energy Transfer's adjusted EBITDA to grow at a 4.8% compound annual growth rate in 2027-2030, which is 1%-3% above Wall Street's expectations. In fact, Smith sees the possibility of additional upside if ET announces more natural gas projects. He added that investors will await details on final investment decisions on new natural gas projects and any clues about additional projects in the pipeline. The analyst noted that ET has announced new gas projects consistently in recent quarters.
Smith ranks No. 550 among more than 12,300 analysts tracked by TipRanks. His ratings have been profitable 64% of the time, delivering an average return of 10.4%. See Energy Transfer Statistics on TipRanks.
ChevronFinally, let's look at energy giant Chevron, which is scheduled to announce its second-quarter results on July 31. Last month, the company paid a quarterly dividend of $1.78 per share. At an annualized dividend of $7.12, CVX offers a dividend yield of 3.92%.
Ahead of Q2 earnings, Jefferies analyst Lloyd Byrne reiterated a buy rating on Chevron stock and lowered his price target to $216 from $236. Byrne expects the company to report adjusted EPS of about $5.86 per share, nearly 9% above the Street's expectations.
The 5-star analyst highlighted that the challenges seen in Chevron's upstream business in the first quarter due to the disruption at the Tengizchevroil joint venture in Kazakhstan, Storm Fern downtime, and the Middle East conflict have largely been resolved. Consequently, Byrne expects production to recover in the second quarter to about 4,033 mboepd. He expects the upstream business to generate adjusted earnings of about $8.1 billion in Q2 2026.
Meanwhile, Byrne expects Chevron to generate downstream adjusted earnings of about $4.4 billion in Q2, with strength in both domestic and international markets. The downstream business benefited from higher crack spreads and strong refining performance.
Additionally, the analyst expects Chevron to generate $18.2 billion in cash flow from operations (before working capital changes), driven by stronger earnings and about $2.2 billion in dividends from affiliated companies. Unlike the first quarter, Chevron is not expected to make a TCO loan repayment in Q2, providing an additional boost to cash flow.
Byrne ranks No. 409 among more than 12,300 analysts tracked by TipRanks. His ratings have been successful 56% of the time, delivering an average return of 17.5%. See Chevron Ownership Structure on TipRanks.
Energy Transfer zvýšila výhled růstových kapitálových investic na 5,5 až 5,9 miliardy USD. Investice míří hlavně do plynovodů pro datová centra a dalších dlouhodobých projektů.
Energy Transfer (ET +2.62%) is one of the largest midstream energy companies in the United States, with more than 140,000 miles of pipeline for transporting crude oil, natural gas, liquefied natural gas (LNG), natural gas liquids (NGLs), and other refined products.
The company recently upgraded its 2026 growth capital expenditure (capex) guidance to $5.5 billion to $5.9 billion, up from an initial estimate of $5 billion to $5.5 billion, demonstrating its shift to a cycle of growth.
For income and growth investors, this elevated spending level carries several critical implications.
Image source: Getty Images.
The build-out is connected to a backlog This isn't speculative "build-it-and-they-will-come" spending. Management has stated these projects are underpinned by long-term, fee-based volume commitments targeting mid-teens returns. A substantial portion of this capital is flowing toward meeting the massive demand for natural gas-fired electricity generation to support artificial intelligence (AI) data centers.
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The company has announced three major gas pipeline projects this year, in addition to three pipeline laterals designed as direct connections to end users, so it already has waiting customers for its projects.
Key drivers for these projects include the gas-to-electricity trend, especially for fueling data centers, and growth in natural gas liquids exports. For example, Energy Transfer's Texas network will supply natural gas to the Nexus Hubbard Campus in central Texas, fueling the on-site generation that powers their new AI hyperscale facility.
Energy Transfer's aggressive capital spending is being driven by a combination of generational shifts in power demand, regional production gluts, and a deliberate decision to pivot away from high-risk megaprojects toward immediately accretive infrastructure.
Its dividend is safe, even with expansion plans In past cycles, a heavy capex budget might have raised red flags regarding the safety of the partnership's distribution. However, Energy Transfer's financial footing is solid. The company raised its adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) to between $18.2 billion and $18.6 billion, meaning the company has immense cash flow.
In the first quarter, Energy Transfer reported revenue of $27.7 billion, up 32% year over year. Adjusted EBITDA was $4.94 billion, up 20.5% over the first quarter of 2025, and distributable cash flow (DCF) was $2.7 billion, up 16.8% year over year.
The company's DCF easily covers its 6.77% distribution yield, as of its current share price, and provides a heavy multibillion-dollar internal equity cushion to self-fund this growth. Dilutive equity issuance to fund this backlog is off the table.
Energy Transfer said it plans to keep raising distributions by 3% to 5% each year. It's increased its distributions for 18 consecutive quarters.
Investors may need to be patient While the projects are high-return, infrastructure takes time to build and commission. Because billions of dollars are actively tied up in construction work in progress (CWIP), they are not yet generating EBITDA.
Energy Transfer's shares have risen by more than 19% this year, but that trend may slow. The company's spending plans will likely keep the company's forward valuation multiple compressed in the near term, at just below 13 times forward earnings. The true rerating and subsequent free cash flow inflections are more likely to be a late-2027 and 2028 story once these assets go into service.
Because the company is allocating more capital to organic projects rather than aggressively buying back units or overindexing on distribution hikes, investors should expect management to stick to its conservative 3% to 5% annual distribution growth target. It strikes a clear balance: Reward unit holders today while fully capitalizing on a generational build-out of energy infrastructure.
Energy Transfer rozšiřuje terminál Nederland NGL Export Terminal o kapacitu etanu 240 000 barelů denně a LPG 55 000 barelů denně. Projekt má být dokončen po etapách od roku 2028 a podpoří růst distribuce.
Energy Transfer (ET 1.15%) recently announced an additional expansion of its Nederland NGL Export Terminal. The project will enable the master limited partnership (MLP) to export more natural gas liquids (NGLs) out of that crucial Gulf Coast terminal by the end of the decade. It's the latest expansion of this facility and one of many projects the company has under construction.
Here's a look at the new project, which will give the MLP even more fuel to grow its over 7%-yielding distribution.
Image source: The Motley Fool.
The NGL export juggernaut Energy Transfer plans to increase the ethane export capacity of its Nederland NGL Export Terminal by 240,000 barrels per day (BPD). It also plans to add another 55,000 BPD of LPG export capacity. The company is expanding this facility due to robust customer demand. It has secured long-term contracts for 100% of the facility's ethane export capacity into the 2040s.
The company expects to complete the project in phases starting in 2028. It's expanding its Mont Belvieu-to-Nederland NGL export pipeline and building two additional NGL ship docks (which it expects to complete by the middle of 2029). The company is already expanding its refrigerated propane and butane storage tanks (anticipated completion in the first half of 2027). Once complete, the Energy Transfer will have the largest refrigerated storage capacity on the U.S. Gulf Coast and the capacity to export more than 1.25 million BPD from this facility. Add in the company's Marcus Hook NGL Export Facility along the East Coast (which it's expanding to 420,000 BPD by mid-2027), and Energy Transfer will have about 1.7 million BPD of NGL export capacity by the end of the decade.
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A massive and growing backlog Energy Transfer's latest Nederland expansion project adds to its already extensive expansion project backlog. The pipeline company plans to spend between $5.5 billion and $5.9 billion on expansion projects this year.
The bulk of its projects are natural gas pipelines. Energy Transfer is investing up to $9.5 billion in major gas pipeline projects, led by the $5.6 billion Desert Southwest Pipeline (anticipated completion by the fourth quarter of 2029). It's also building several pipeline laterals to supply gas to AI data centers and gas-fired power plants. Additionally, the company is expanding several crude oil and NGL pipelines, building additional NGL infrastructure, and constructing more gas processing plants.
These projects give Energy Transfer significant growth visibility. It currently has projects on track to enter commercial service through early 2030. These projects support the company's plans to increase its high-yielding distribution by 3% to 5% per year.
Enhancing its already robust growth profile Energy Transfer is moving forward with another expansion of its key Nederland terminal. This expansion will help further support distribution growth through the end of the decade. The MLP's combination of yield and growth makes it a highly attractive investment opportunity for those comfortable with receiving a Schedule K-1 Federal tax form from the MLP each year.
Matt DiLallo has positions in Energy Transfer. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
