New York, June 13, 2026, 16:02 EDT
• Energy Transfer LP ended Friday up 1.65% at $19.07, breaking a five-session slide. The stock’s volume remained under its 50-day average. MarketWatch
• ET is paying a $1.35 annualized cash distribution, which gives a yield around 7.1% based on Friday’s close. Energy Transfer
• The next key event for ET is expected to be second-quarter results after the close on Aug. 5. Investors are focused on 2026 targets, capital outlays and the payout ratio.
Energy Transfer LP (ET) closed Friday at $19.07, up 1.65%. The stock snapped a five-day slide, getting a lift as markets broadly moved higher. ET finished about 7.9% off its 52-week high of $20.70, set on May 20. The Dow added 0.70%, and the Nasdaq Composite rose 0.31%. No new company news. The move came as part of a general up day for stocks.
Energy Transfer’s moves are under the microscope for income-focused investors. The limited partnership last listed a quarterly payout of $0.3375 a unit, $1.35 a year, for a yield of about 7.1% as of Friday’s close. That yield figure comes from dividing the annual payout by the unit price, so a drop in the unit price sends the yield up and a higher price drags it down.
Energy Transfer got a boost from its latest operating numbers. Its first-quarter report showed adjusted EBITDA up 20% from a year ago at $4.94 billion. Distributable cash flow attributable to partners, as adjusted, reached $2.70 billion, compared with $2.31 billion last year. Adjusted EBITDA strips out interest, taxes, depreciation and amortization, plus some other items. Distributable cash flow tracks cash available for payouts and investment, a standard metric for the midstream sector.
ET’s appeal for bulls is its mix of high yield and clear infrastructure demand. Energy Transfer bumped up its 2026 adjusted EBITDA outlook to a range of $18.2 billion to $18.6 billion. Growth capital spending this year is pegged between $5.5 billion and $5.9 billion. The company logged record or higher first-quarter volumes in multiple arms, with NGL exports and terminal volumes up 19% and crude oil transportation volumes rising 8%.
Analysts are still positive on the stock, but some warn there could be bumps ahead. Based on Google Finance, 13 analysts rate it a buy and two are at hold, with no sell calls out of 15 tracked in the last three months. The average 12-month target sits at $23.79. StockAnalysis puts ET at about 15.9 times trailing earnings—a price-to-earnings ratio, though MLPs like this one are usually judged more on cash flow because of their big depreciation charges tied to infrastructure.
Friday’s rebound didn’t make up for ET’s recent slide. The stock had dropped five days in a row before that move, and volume on Friday reached just 8.3 million shares—well under the 50-day average of 14.5 million. That points to thin buying power behind the pop. Investors are watching ET’s big capital spend, staying alert to debt, interest rates, cash flow, project timing and if growth will cover future distribution bumps.
Energy Transfer is offering yield near 7%, with higher EBITDA guidance and analysts mostly positive. The stock trades not far from its 52-week high. It’s still exposed to swings in the commodity market, possible regulatory slowdowns, execution risk and rising financing costs. Investors are waiting on the second-quarter results, due Aug. 5 after the close, to see if first-quarter volumes carry into cash flow, and if management sticks to its 2026 outlook.
