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Energy Transfer LP (ET)
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Upturn Advisory Summary
01/07/2026: ET (2-star) is currently NOT-A-BUY. Pass it for now.
Upturn Star Rating
Below Average Performance
These Stocks/ETFs, based on Upturn Advisory, often underperform the market, warranting careful consideration before investing.
Number of Analysts
17 Analysts rated it
Moderately tracked stock, growing coverage, gaining market and investor attention.
1 Year Target Price $21.57
1 Year Target Price $21.57
| 10 | Strong Buy |
| 6 | Buy |
| 1 | Hold |
| 0 | Sell |
| 0 | Strong Sell |
Analysis of Past Performance
Type Stock | Historic Profit 27.77% | Avg. Invested days 68 | Today’s Advisory PASS |
Upturn Star Rating | Upturn Advisory Performance  3.0 | Stock Returns Performance  3.0 |
| Profits based on simulation | Last Close 01/07/2026 |
Key Highlights
Company Size Large-Cap Stock | Market Capitalization 55.79B USD | Price to earnings Ratio 13 | 1Y Target Price 21.57 |
Price to earnings Ratio 13 | 1Y Target Price 21.57 | ||
Volume (30-day avg) 17 | Beta 0.66 | 52 Weeks Range 13.78 - 19.92 | Updated Date 01/6/2026 |
52 Weeks Range 13.78 - 19.92 | Updated Date 01/6/2026 | ||
Dividends yield (FY) 8.01% | Basic EPS (TTM) 1.25 |
Analyzing Revenue: Products, Geography and Growth
Revenue by Products
Product revenue - Year on Year
Revenue by Geography
Earnings Date
Report Date - | When - | Estimate - | Actual - |
Profitability
Profit Margin 5.74% | Operating Margin (TTM) 10.79% |
Management Effectiveness
Return on Assets (TTM) 4.55% | Return on Equity (TTM) 12.62% |
Valuation
Trailing PE 13 | Forward PE 10.42 | Enterprise Value 116192536377 | Price to Sales(TTM) 0.7 |
Enterprise Value 116192536377 | Price to Sales(TTM) 0.7 | ||
Enterprise Value to Revenue 1.46 | Enterprise Value to EBITDA 7.68 | Shares Outstanding 3433386854 | Shares Floating 3279845794 |
Shares Outstanding 3433386854 | Shares Floating 3279845794 | ||
Percent Insiders 10.1 | Percent Institutions 30.71 |
Upturn AI SWOT
Energy Transfer LP
Company Overview
History and Background
Energy Transfer LP (ET) was formed in 2002 through a series of mergers and acquisitions. It has grown significantly through strategic acquisitions and organic expansion to become one of the largest midstream energy companies in the United States. Key milestones include the acquisition of Sunoco Logistics Partners in 2017, which significantly expanded its NGL and refined products businesses, and its transformation into a master limited partnership (MLP).
Core Business Areas
- Interstate Natural Gas Pipelines: This segment owns and operates interstate natural gas transportation pipelines, serving markets across the US. It focuses on the gathering, processing, transportation, and storage of natural gas.
- Intrastate Natural Gas Pipelines: This segment operates intrastate natural gas pipelines, primarily in Texas, gathering and transporting natural gas to various end-users.
- NGL and Refining: This segment is involved in the transportation, fractionation, and storage of natural gas liquids (NGLs), as well as the operation of refineries. It processes crude oil and NGLs.
- Midstream and Terminals: This segment encompasses gathering and processing assets, along with crude oil and refined product terminalling services.
Leadership and Structure
Energy Transfer LP is a publicly traded master limited partnership. Its leadership team includes a CEO and a Board of Directors. The organizational structure is segmented based on its core business areas, with dedicated management for each segment.
Top Products and Market Share
Key Offerings
- Natural Gas Transportation: Energy Transfer LP provides extensive natural gas transportation services across the US via its vast pipeline network. Competitors include Kinder Morgan (KMI), TC Energy (TRP), and Enbridge (ENB).
- NGL Processing and Fractionation: The company processes and fractionates NGLs, providing essential services to producers. Key competitors in this space include Enterprise Products Partners (EPD) and Targa Resources (TRGP).
- Crude Oil and Refined Products Logistics: Energy Transfer offers transportation, storage, and terminalling for crude oil and refined products. Competitors include Plains All American (PAA) and Magellan Midstream Partners (MMP).
Market Dynamics
Industry Overview
The midstream energy sector is characterized by its essential role in transporting and processing oil and natural gas. The industry is influenced by global energy demand, commodity prices, regulatory policies, and the transition to cleaner energy sources. Infrastructure development and expansion are crucial for meeting growing energy needs.
Positioning
Energy Transfer LP is a significant player in the US midstream sector, boasting one of the most extensive and diversified portfolios of energy infrastructure assets. Its competitive advantages include its scale, geographic reach, integrated business model, and long-term, fee-based contracts.
Total Addressable Market (TAM)
The TAM for midstream services is substantial, encompassing the gathering, processing, transportation, and storage of oil and gas products. While precise TAM figures are difficult to quantify due to the dynamic nature of the energy market, it is in the hundreds of billions of dollars globally. Energy Transfer LP is well-positioned to capture a significant portion of the US market due to its extensive network and diverse service offerings.
Upturn SWOT Analysis
Strengths
- Extensive and diversified asset base
- Strong fee-based revenue streams
- Significant scale and market reach
- Strategic midstream infrastructure
- Experienced management team
Weaknesses
- High debt levels
- Sensitivity to commodity price volatility (though mitigated by contracts)
- Operational complexity of large integrated system
- Exposure to regulatory and environmental risks
Opportunities
- Growth in natural gas production and exports
- Expansion of NGL infrastructure
- Acquisition of complementary assets
- Development of new energy transition infrastructure
- Increased demand for refined products
Threats
- Stringent environmental regulations
- Competition from other midstream providers
- Fluctuations in energy demand and prices
- Geopolitical risks affecting energy markets
- Potential for pipeline disruptions and accidents
Competitors and Market Share
Key Competitors
- Kinder Morgan Inc. (KMI)
- Enterprise Products Partners L.P. (EPD)
- TC Energy Corporation (TRP)
- Enbridge Inc. (ENB)
- Plains All American Pipeline, L.P. (PAA)
Competitive Landscape
Energy Transfer LP competes with other large midstream companies. Its advantages lie in its comprehensive network and integrated services. Weaknesses can arise from its significant debt burden compared to some peers and the complexity of managing such a large, diverse asset base.
Major Acquisitions
SemGroup Corporation
- Year: 2019
- Acquisition Price (USD millions): 2200
- Strategic Rationale: Acquisition expanded ET's crude oil midstream footprint in key producing basins, particularly the Mid-Continent and Rockies regions, and added significant terminalling and transportation assets.
Sunoco Logistics Partners
- Year: 2017
- Acquisition Price (USD millions): 22000
- Strategic Rationale: Merger created a more diversified and scaled midstream entity, combining ET's natural gas and NGL infrastructure with Sunoco Logistics' extensive crude oil and refined products pipelines and terminals.
Growth Trajectory and Initiatives
Historical Growth: Energy Transfer LP has demonstrated historical growth through strategic acquisitions and organic expansion of its infrastructure. Its business model is designed for consistent, long-term growth through fee-based contracts and system optimization.
Future Projections: Analyst projections for Energy Transfer LP typically focus on continued growth in its core segments, driven by increased production and demand for energy infrastructure. Future growth may also be influenced by investments in new energy technologies and services.
Recent Initiatives: Recent initiatives often include expansions of existing pipelines, construction of new gathering systems, and strategic acquisitions aimed at enhancing its service offerings and geographic presence.
Summary
Energy Transfer LP is a dominant force in the US midstream energy sector, boasting a vast and diversified infrastructure network. Its strength lies in its scale, integrated business model, and long-term contracts. However, it faces challenges related to its substantial debt load and the inherent risks of the energy industry. Continued focus on operational efficiency, strategic growth, and prudent financial management will be key to its ongoing success.
Similar Stocks
Sources and Disclaimers
Data Sources:
- Energy Transfer LP Investor Relations
- SEC Filings (10-K, 10-Q)
- Financial News Outlets (e.g., Bloomberg, Reuters)
- Industry Analysis Reports
Disclaimers:
This analysis is based on publicly available information and is for informational purposes only. It does not constitute financial advice. Numerical data, especially financial metrics and market share, are subject to change and should be verified with the latest official reports. Market share percentages are estimates and may vary based on methodology.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About Energy Transfer LP
Exchange NYSE | Headquaters Dallas, TX, United States | ||
IPO Launch date 2006-02-03 | Co-CEO & Director of LE GP, LLC Mr. Marshall S. McCrea III | ||
Sector Energy | Industry Oil & Gas Midstream | Full time employees 16248 | Website https://energytransfer.com |
Full time employees 16248 | Website https://energytransfer.com | ||
Energy Transfer LP, together with its subsidiaries, provides energy-related services in the United States. It operates through Intrastate Transportation and Storage; Interstate Transportation and Storage; Midstream; Natural Gas Liquid (NGL) and Refined Products Transportation and Services; Crude Oil Transportation and Services; Investment in Sunoco LP; Investment in USA Compression Partners, LP (USAC); and All Other segments. The company owns and operates natural gas transportation pipelines and storage facilities; and approximately 12,200 miles of intrastate natural gas transportation pipelines and 20,090 miles of interstate natural gas pipelines. It also sells natural gas to electric utilities, independent power plants, local distribution and other marketing companies, and industrial end-users. In addition, the company owns and operates natural gas gathering pipelines, processing plants, and treating and conditioning facilities; and natural gas gathering, oil pipeline, and oil stabilization facilities. Further, it owns 5,700 miles of NGL pipelines; NGL fractionation and storage facilities; and other NGL storage assets and terminals. Additionally, the company provides crude oil transportation, terminalling, acquisition, and marketing activities; owns and operates approximately 17,950 miles of crude oil trunk and gathering pipelines; and sells and distributes motor fuels and other petroleum products under the Sunoco and EcoMaxx brands. It also offers natural gas compression; wholesale power trading; and carbon dioxide and hydrogen sulfide removal services, as well as manages coal and natural resources properties; sells standing timber; leases coal-related infrastructure facilities; and collects oil and gas royalties. The company was formerly known as Energy Transfer Equity, L.P. and changed its name to Energy Transfer LP in October 2018. Energy Transfer LP was founded in 1996 and is headquartered in Dallas, Texas.
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