Energy Transfer (NYSE:ET) Releases Earnings Results

Energy Transfer (NYSE:ET) issued its earnings results on Tuesday. The pipeline company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.03), FiscalAI reports. The company had revenue of $27.77 billion for the quarter, compared to analyst estimates of $25.58 billion. Energy Transfer had a net margin of 5.11% and a return on equity of 10.17%. The company’s quarterly revenue was up 32.1% on a year-over-year basis. During the same period last year, the business earned $0.36 EPS.

Here are the key takeaways from Energy Transfer’s conference call:

• We delivered a strong quarter with Q1 adjusted EBITDA of ~$4.9 billion (vs. ~$4.1B y/y) and DCF of ~$2.7 billion, and raised full-year 2026 adjusted EBITDA guidance to approximately $18.2–$18.6 billion while increasing 2026 organic growth capex guidance to ~$5.5–$5.9 billion.
• Operations were robust—Energy Transfer reported record midstream gathering, NGL fractionation and export, and crude transportation volumes, and captured its full-year optimization target in Q1, driving meaningful outperformance across segments.
• The company is aggressively advancing a slate of long‑term, contracted growth projects—including Desert Southwest, the Springerville Lateral (~$600M), Hugh Brinson (Phase 1 ramping this year), FGT expansions, Mont Belvieu ethane/storage work, and the Bayou Bridge/DAPL-related initiatives—with multiple FIDs and multi‑year in‑service targets through 2029.
• Geopolitical disruption has strengthened international demand for U.S. hydrocarbons; Energy Transfer extended most Nederland ethane export contracts into 2041, is ramping FlexPort export capacity, and expects longer contracts and improved margins for LPG/ethane exports.
• There are near‑term and execution risks—management said roughly $300M of the Q1 beat is “one‑time,” some inventory gains may be offset by hedge losses in Q2, elevated 2026 capex raises funding needs versus a stated 4.0–4.5x leverage target, and several projects remain contingent on shipper elections or regulatory approvals.

Energy Transfer Stock Performance

ET traded up $0.51 on Tuesday, hitting $20.59. The company had a trading volume of 22,146,332 shares, compared to its average volume of 16,372,352. The company’s fifty day moving average price is $18.99 and its 200 day moving average price is $17.75. Energy Transfer has a 1-year low of $15.80 and a 1-year high of $20.57. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.22 and a quick ratio of 0.90. The stock has a market cap of $70.82 billion, a price-to-earnings ratio of 17.01, a price-to-earnings-growth ratio of 1.09 and a beta of 0.57.

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 20th. Investors of record on Friday, May 8th will be issued a $0.3375 dividend. This is an increase from Energy Transfer’s previous quarterly dividend of $0.34. The ex-dividend date is Friday, May 8th. This represents a $1.35 annualized dividend and a yield of 6.6%. Energy Transfer’s dividend payout ratio is presently 110.74%.

Analyst Upgrades and Downgrades

ET has been the subject of several research reports. TD Cowen lifted their price target on Energy Transfer from $20.00 to $21.00 and gave the company a “buy” rating in a report on Wednesday, February 18th. Scotiabank reiterated an “outperform” rating on shares of Energy Transfer in a report on Friday, January 16th. Barclays reiterated an “overweight” rating and set a $22.00 price target (down from $25.00) on shares of Energy Transfer in a report on Monday, January 12th. Morgan Stanley lifted their price target on Energy Transfer from $19.00 to $21.00 and gave the company an “equal weight” rating in a report on Tuesday, March 10th. Finally, Wells Fargo & Company lifted their price target on Energy Transfer from $23.00 to $25.00 and gave the company an “overweight” rating in a report on Friday, March 13th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $21.60.

Institutional Investors Weigh In On Energy Transfer

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Brighton Jones LLC lifted its holdings in Energy Transfer by 93.4% in the 4th quarter. Brighton Jones LLC now owns 24,530 shares of the pipeline company’s stock worth $481,000 after purchasing an additional 11,844 shares during the last quarter. Legacy Wealth Advisors LLC acquired a new stake in Energy Transfer in the 4th quarter worth approximately $234,000. Safeguard Investment Advisory Group LLC lifted its holdings in Energy Transfer by 6.1% in the 4th quarter. Safeguard Investment Advisory Group LLC now owns 13,999 shares of the pipeline company’s stock worth $231,000 after purchasing an additional 808 shares during the last quarter. Asset Advisory Group Inc. acquired a new stake in Energy Transfer in the 4th quarter worth approximately $224,000. Finally, Sentinel Wealth Management Inc. acquired a new stake in Energy Transfer in the 2nd quarter worth approximately $203,000. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Energy Transfer Company Profile

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.