Energy Transfer (NYSEAMERICAN:ET) Announces Quarterly Earnings Results

Energy Transfer (NYSEAMERICAN:ET) released its quarterly earnings results on Tuesday. The pipeline company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.07), RTT News reports. Energy Transfer had a return on equity of 11.55% and a net margin of 4.87%. During the same period last year, the company posted $0.28 EPS.

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

• Strong third-quarter results and higher guidance: Adjusted EBITDA rose to approximately $5.0 billion from $3.8 billion year over year, while DCF increased to $2.5 billion from $1.9 billion. Full-year 2026 EBITDA guidance was raised to $19.7 billion–$19.9 billion, up approximately $850 million at the midpoint.
• Broad-based operating momentum continued: Record intrastate transportation and midstream gathering volumes, the ramp-up of Hugh Brinson Phase 1, and higher utilization across interstate pipelines supported results across all major segments.
• Large contracted growth pipeline is advancing: Energy Transfer expects approximately $7 billion of 2027 growth CapEx, with most projects backed by long-term commitments and targeted mid-teen returns. Key initiatives include Hugh Brinson Phase 2, South Mississippi Pipeline, additional Permian processing, and expanded NGL export capacity.
• Vaquero acquisition expected to be accretive: The approximately $2.625 billion acquisition is expected to close in the fourth quarter, immediately increase DCF per common unit, and strengthen ET’s Delaware Basin gathering and processing network. Management expects the transaction’s estimated EBITDA multiple to decline from roughly 8.5x in 2027 to below 7x by 2029.
• Some earnings upside reflects market conditions: Volatility, commodity prices, and favorable spreads contributed materially to 2026 performance, including an estimated $1.5 billion of optimization benefits versus a typical $200 million–$400 million plan. Management noted that approximately $200 million of reported gains will be offset by derivative losses over the next two quarters, although some favorable conditions could continue into 2027.

Energy Transfer Trading Down 2.8%

ET traded down $0.56 during midday trading on Wednesday, hitting $19.60. The company’s stock had a trading volume of 4,714,975 shares, compared to its average volume of 12,044,797. The company has a current ratio of 1.16, a quick ratio of 0.94 and a debt-to-equity ratio of 1.45. The firm has a market cap of $67.50 billion, a P/E ratio of 13.34, a PEG ratio of 0.73 and a beta of 0.62. The firm has a 50-day moving average price of $20.73 and a two-hundred day moving average price of $19.68. Energy Transfer has a 52-week low of $16.18 and a 52-week high of $21.84.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 19th. Shareholders of record on Friday, November 6th will be paid a $0.3425 dividend. This represents a $1.37 dividend on an annualized basis and a yield of 7.0%. The ex-dividend date of this dividend is Friday, November 6th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.34. Energy Transfer’s dividend payout ratio is 92.52%.

Insider Transactions at Energy Transfer

In related news, Director James Perry bought 12,359 shares of the stock in a transaction that occurred on Friday, August 7th. The stock was purchased at an average cost 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 in the company, valued at $4,208,770.58. This trade represents a 6.32% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kelcy L. Warren purchased 647,968 shares of the company’s stock in a transaction that occurred on Wednesday, August 19th. The shares were bought at an average cost of $21.26 per share, with a total value of $13,775,799.68. Following the transaction, the director directly owned 147,901,879 shares of the company’s stock, valued at $3,144,393,947.54. The trade was a 0.44% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders have bought 1,012,359 shares of company stock valued at $21,513,543. Corporate insiders own 3.28% of the company’s stock.

Key Headlines Impacting Energy Transfer

Here are the key news stories impacting Energy Transfer this week:

• Positive Sentiment: Jefferies raised its price target to $25, signaling improved analyst expectations. Energy Transfer PT Raised to $25 at Jefferies
• Positive Sentiment: Operational performance was strong: adjusted EBITDA rose 31% and distributable cash flow increased 33% year over year to $2.52 billion. ET raised its 2026 adjusted EBITDA outlook to $19.7–$19.9 billion, while cash flow covered its distribution more than twice. Energy Transfer Just Delivered a Monster Quarter
• Positive Sentiment: ET increased its quarterly distribution to $0.3425 per unit. The hike, alongside strong distribution coverage, may appeal to income-focused investors. Energy Transfer: Massive Growth and Another Dividend Hike
• Positive Sentiment: The partnership approved a $1.6 billion, 215-mile South Mississippi natural-gas pipeline, designed to carry 1.2 billion cubic feet per day. The project positions ET to serve growing regional gas demand, though it requires substantial investment. Energy Transfer sanctions South Mississippi pipeline project
• Negative Sentiment: Reported EPS of $0.33 missed the $0.40 consensus estimate. That headline shortfall could temper the otherwise positive reaction to the strong cash flow and raised outlook. Energy Transfer Q3 Earnings Miss Estimates Despite Record Gas Volumes

Analyst Ratings Changes

A number of equities analysts have recently weighed in on ET shares. Royal Bank Of Canada reissued an “outperform” rating and issued a $23.00 price target (up from $21.00) on shares of Energy Transfer in a report on Tuesday, July 21st. Citigroup reiterated a “buy” rating and set a $24.00 price objective (up from $23.00) on shares of Energy Transfer in a research report on Friday, August 7th. TD Cowen reissued a “buy” rating and issued a $25.00 target price (up from $24.00) on shares of Energy Transfer in a research note on Monday, August 10th. JPMorgan Chase & Co. upped their target price on shares of Energy Transfer from $24.00 to $25.00 and gave the company an “overweight” rating in a report on Friday, September 4th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $25.00 price target on shares of Energy Transfer in a research note on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $24.73.

Energy Transfer Company Profile

Energy Transfer LP is a diversified energy infrastructure company headquartered in Dallas, Texas. The partnership owns and operates a broad network of pipelines, processing facilities, storage assets and terminals that support the movement of natural gas, natural gas liquids, crude oil and refined products across the United States.

The company’s operations include gathering and processing natural gas, transporting and storing natural gas and NGLs, fractionating NGLs into component products, and transporting crude oil and refined products.