Energy Transfer LP (ET) Fair Value & Analysis
Energy · US · Market cap $64.5B · ISIN US29273V1008
What is Energy Transfer LP really worth?
Energy Transfer LP
ET · US
Below-average quality, and trading another 87% above our fair value of $11.45.
Risks
For context
Fair value as of: Sep 1, 2026
From 24 valuation models · updated 4 days ago
Share price +5.5% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- Weak quality (38/100) and above fair value at the same time, the margin of safety is missing on both counts.
- A fairly wide model range ($11.45 to $29.50) leaves room in how you read the outcome.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 1, 2026.
How to read this chart
60‑month range $5.67 – $21.54 · fair‑value band $11.45 – $29.50 · the $21.44 price screens above the $11.45 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 1, 2026.
Analysis
Energy Transfer LP (ET) currently trades at $21.44, while our model-based Fair Value estimate is $11.45, implying the stock looks roughly 87.3% overvalued today. The Quality Score stands at 38/100 (below-average quality), in the Energy sector. Bull case: the Growth Earnings group reads highest at a median of $22.69 per share, and 3 of the 24 models we run sit above the $21.44 price. Bear case: the Growth DCF group reads lowest at $6.14, and 21 of the 24 models stay below the price. Evidence for this calculation is high.
Over the trailing twelve months, Energy Transfer LP generated revenue of $92.3B at a net margin of 4.7%. Revenue grew 32.1% year over year. It earns a return on equity of 12.4%. Net debt stands at $70.3B. Fundamentals as of Sep 1, 2026
Our scenario range runs from $11.45 (bear case) to $29.50 (bull case); at $21.44, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades near its 52-week high and 40% above its 52-week low, currently above its 200-day average. For context, the median of 10 Energy peers we cover trades at −39% fair-value upside, at −47%, ET screens richer than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.
All 24 models by family
Widest divergence: Growth Earnings ($22.69) versus Growth DCF ($6.14). Highest evidence: FCF DCF (77).
Notify me when ET reaches fair value
Put ET on your watchlist. We get in touch as soon as price and fair value meet or the trend turns.
Set up alert →Free, no payment details. Unsubscribe anytime in one click.
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Sep 1, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 35 · Market factors (momentum, volatility) 77
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
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; …
Full company description
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, compression, treating, dehydration and processing, oil pipeline 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, trucking, acquisition, and marketing activities; owns and operates approximately 18,000 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 management of 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.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Energy Transfer LP reported revenue of $82.6B in FY2025 versus $67.4B in FY2021, a compound +5.2%/yr. Reported net income was $4.9B in FY2025, compounding −2.7%/yr from FY2021.
of which total revenue +6.8 % · buybacks/dilution −12.0 %
Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).
ET screens 87% overvalued. Compare with Enbridge Inc →
Recent news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- This Popular Energy ETF Has a Hidden Cost—Own These 3 Dividend Stocks Instead
- Energy Transfer Is Quietly Becoming One of the Biggest Natural Gas Suppliers to AI Data Centers
- Is Energy Transfer’s US$5.9 Billion Gas Buildout Altering The Investment Case For ET?
- Energy Transfer vs. MPLX: Which Midstream Stock Has an Edge?
Peer Group
Oil & Gas Midstream · 89 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Oil & Gas Midstream median · lower = cheaper
Strength profile in five axes (Snowflake)
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
VALUE 0: the price sits above our fair-value range.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Oil & Gas Midstream stocks, each showing price versus our Fair Value estimate (as of Sep 1, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Enbridge Inc ENB | $50.72 | $35.83 | −29% |
| The Williams Companies, Inc WMB | $74.05 | $11.73 | −84% |
| Enterprise Products Partners L.P. EPD | $39.02 | $20.94 | −46% |
| TC Energy Corporation TRP | C$88.72 | C$24.53 | −72% |
| Kinder Morgan, Inc KMI | $31.60 | $10.92 | −65% |
| MPLX LP owns and MPLX | $59.25 | $36.42 | −39% |
| ONEOK, Inc OKE | $95.69 | $58.62 | −39% |
| Targa Resources Corp TRGP | $286.91 | $79.61 | −72% |
| Cheniere Energy, Inc LNG | $280.80 | $199.99 | −29% |
| Venture Global, Inc VG | $13.72 | $14.00 | +2% |
Compare Energy Transfer LP with another stock
Price, fair value, quality and upside side by side.
Explore undervalued stocks
More undervalued Energy stocks →
Try a ready-made strategy
Pick a strategy and jump into the live analysis with that exact screen applied.
Discover tools
Frequently asked questions
Is Energy Transfer LP (ET) overvalued or undervalued?
What is the fair value of ET?
What is the quality score of ET?
What is the revenue of Energy Transfer LP (ET)?
What is the net profit margin of ET?
Does Energy Transfer LP pay a dividend?
Watch Energy Transfer LP in the live analysis
One click puts Energy Transfer LP on your watchlist: fair value and trend at a glance, plus comparison, the diversification check and the 35,000+ stock screener. You can also try 14 days of Pro there, no card.
Watch for free →Zero risk: nothing is ever charged. Your watchlist is yours, with or without an account.