ET
Energy Transfer LP
NYSEUSDEQUITY
Energy
DELAYED
Last price
21.21
▲ 0.00 (0.01%)
MARKET · —
Price
Open
21.45
Prev close
21.21
Day high
21.34
Day low
21.06
Volume
9.80M
Market cap
$72.96B
P/E (TTM)
14.51
52W range
16.18 – 21.64
Trailing performance
Returnvs SPY
1W
+0.67%
+2.0%
1M
+3.77%
+0.0%
3M
+5.90%
+2.8%
6M
+11.64%
+0.6%
YTD
+28.50%
+16.2%
1Y
+22.27%
+2.3%
3Y
+65.94%
-8.2%
5Y
—
—
Price return only. Dividends are not reinvested, so total return on a dividend payer will be higher than shown.
Fundamentals
Market cap$72.96B
Enterprise value$160.99B
Revenue (TTM)$107.38B
Gross profit$18.80B
EBITDA$17.15B
Net income$5.05B
EPS (TTM)$1.46
Free cash flow$3.16B
Total cash$1.02B
Total debt$70.24B
Book value / share$9.29
Shares outstanding3.44B
Float3.09B
Short % of float0.84%
Dividend yield6.42%
Beta (5Y)0.56
Valuation & profitability ratios
Trailing P/E14.51
Forward P/E12.11
PEG ratio0.67
Price / sales—
Price / book2.28
EV / revenue1.50
EV / EBITDA9.39
Gross margin17.51%
Operating margin10.41%
Profit margin4.92%
Return on equity14.56%
Return on assets5.06%
Debt / equity138.33
Current ratio1.16
Fourteen ratios including P/E, PEG, EV/EBITDA, margins and return on equity.
Financial statements
| Line item | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Total revenue | $85.54B | $82.67B | $78.59B | $89.88B |
| Cost of revenue | $0 | $0 | $0 | $0 |
| Gross profit | $0 | $0 | $0 | $0 |
| R&D | — | — | — | — |
| SG&A | — | — | — | — |
| Operating income | — | — | — | — |
| Pre-tax income | — | — | — | — |
| Tax provision | $0 | $0 | $0 | $0 |
| Net income | $4.17B | $4.39B | $3.47B | $4.33B |
| EBIT | $0 | $0 | $0 | $0 |
| Line item | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Cash & equivalents | — | — | — | — |
| Short-term investments | — | — | — | — |
| Net receivables | — | — | — | — |
| Inventory | — | — | — | — |
| Total current assets | — | — | — | — |
| Total assets | — | — | — | — |
| Total current liabilities | — | — | — | — |
| Long-term debt | — | — | — | — |
| Total liabilities | — | — | — | — |
| Retained earnings | — | — | — | — |
| Shareholder equity | — | — | — | — |
| Line item | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Net income | $4.17B | $4.39B | $3.47B | $4.33B |
| Depreciation | — | — | — | — |
| Change in working capital | — | — | — | — |
| Operating cash flow | — | — | — | — |
| Capital expenditure | — | — | — | — |
| Investing cash flow | — | — | — | — |
| Dividends paid | — | — | — | — |
| Buybacks | — | — | — | — |
| Financing cash flow | — | — | — | — |
| Net change in cash | — | — | — | — |
Earnings
Reported vs expected · EPS
| Quarter | Est. | Actual | Surprise |
|---|---|---|---|
| Jun 2026 | 0.37 | 0.59 | +60.4% |
| Mar 2026 | 0.38 | 0.35 | -7.6% |
| Dec 2025 | 0.36 | 0.25 | -30.4% |
| Sep 2025 | 0.33 | 0.28 | -15.4% |
Forward consensus
| Period | EPS | Analysts | Revenue | Growth |
|---|---|---|---|---|
| Current quarter | 0.40 | 8 | $31.82B | +59.4% |
| Next quarter | 0.41 | 8 | $31.61B | +24.8% |
| Current year | 1.70 | 11 | $122.00B | +42.6% |
| Next year | 1.68 | 12 | $122.04B | +0.0% |
Analyst targets & ownership
Mean target$24.48
High target$27.00
Low target$22.00
Implied upside15.41%
Analyst count21
ConsensusSTRONG BUY
Strong buy / Buy5 / 14
Hold2
Sell / Strong sell0 / 0
Held by insiders10.29%
Held by institutions32.50%
Institutions holding1.43K
Price targets, consensus spread, insider and institutional ownership.
Insider net activity
Net shares
0
Net selling
Buy transactions
0
0 shares
Sell transactions
0
—
Net transactions
0
Buys less sells
Sell : buy shares
—
Not enough filings
Insider-held shares
354.32M
Total on file
Insider transactions
| Date | Insider | Action | Shares | Value | Held |
|---|---|---|---|---|---|
| Aug 7, 26 | PERRY JAMES RICHARD Director |
BUY | 12.36K | $250.00K | Direct |
| May 8, 26 | WARREN KELCY L Director |
STOCK | 1.11M | $22.00M | Direct |
| Jan 2, 26 | MCREYNOLDS JOHN W Director |
STOCK | 7.42K | $0 | Direct |
| Jan 2, 26 | GRIMM MICHAEL K Director |
STOCK | 7.42K | $0 | Direct |
| Jan 2, 26 | RAMSEY MATTHEW S Director |
STOCK | 7.42K | $0 | Direct |
| Jan 2, 26 | ANDERSON STEVEN R. Director |
STOCK | 7.42K | $0 | Direct |
| Jan 2, 26 | PERRY JAMES RICHARD Director |
STOCK | 7.42K | $0 | Direct |
| Dec 5, 25 | MCCREA MARSHALL S III Chief Executive Officer |
STOCK | 704.44K | $0 | Direct |
| Dec 5, 25 | LONG THOMAS E Chief Executive Officer |
STOCK | 704.44K | $0 | Direct |
| Dec 5, 25 | STURROCK TROY ADEN Officer |
STOCK | 56.77K | $0 | Direct |
| Dec 5, 25 | WRIGHT JAMES M JR General Counsel |
STOCK | 180.38K | $0 | Direct |
| Dec 5, 25 | BRAMHALL DYLAN Chief Financial Officer |
STOCK | 200.44K | $0 | Direct |
| Nov 20, 25 | WARREN KELCY L Director |
BUY | 2.00M | $33.76M | Indirect |
| Aug 20, 25 | WARREN KELCY L Director |
BUY | 2.00M | $34.68M | Direct |
What this is, and what it is not
These are SEC Form 4 filings — officers, directors and 10% owners reporting their own trades in the company's stock. Filing is due within two business days of the transaction, so this lags reality by days, and the provider adds its own lag on top.
A sale is not automatically bearish. Executives sell on scheduled 10b5-1 plans, to cover tax on vesting equity, and to diversify. Purchases with cash are generally the more informative signal, and they are far rarer.
This does not include congressional or senate trading. That comes from STOCK Act disclosures filed with the Senate eFD system and the House Clerk, which this data source does not carry.
Officer and director trades in their own stock, straight from Form 4 filings.
Insider holders
| Name | Relation | Shares held | Latest |
|---|---|---|---|
ANDERSON STEVEN R. |
Director | 1.63M | Stock Award(Grant) |
BRAMHALL DYLAN |
Chief Financial Officer | 897.76K | Stock Award(Grant) |
BRANNON RICHARD D |
Director | 760.32K | Stock Award(Grant) |
GRIMM MICHAEL K |
Director | 1.38M | Stock Award(Grant) |
LONG THOMAS E |
Chief Executive Officer | 5.02M | Stock Award(Grant) |
MCCREA MARSHALL S III |
Chief Executive Officer | 7.91M | Stock Award(Grant) |
MCREYNOLDS JOHN W |
Director | 30.27M | Stock Award(Grant) |
RAMSEY MATTHEW S |
Director | 1.17M | Stock Award(Grant) |
WARREN KELCY L |
Director | 307.40M | Stock Award(Grant) |
WRIGHT JAMES M JR |
General Counsel | 1.02M | Stock Award(Grant) |
Moving averages & technicals
SMA 10
21.01
+0.97% from price
SMA 20
20.64
+2.68% from price
SMA 50
19.97
+6.10% from price
SMA 100
19.72
+7.57% from price
SMA 200
18.66
+13.53% from price
EMA 12
20.94
+1.30% from price
EMA 26
20.60
+2.96% from price
EMA 50
20.23
+4.84% from price
RSI (14)
62.4
Neutral
MACD (12,26,9)
0.34
Hist 0.04
ATR (14)
0.39
1.82% of price
Realised vol 30D
18.8%
Annualised
Bollinger upper
21.49
20, 2σ
Bollinger lower
19.78
20, 2σ
50 / 200 cross
Golden
19.97 vs 18.66
Trend bias
Above 200
+13.53%
Risk profile
Beta vs SPY
-0.12
Less volatile than market
Correlation to SPY
-0.09
Largely independent
Realised vol 30D
18.8%
Annualised
Market vol 1Y
12.9%
SPY, annualised
Max drawdown 1Y
-8.5%
Peak to trough
Max drawdown 5Y
-25.8%
Peak to trough
ATR 14
0.39
1.82% of price
Beta (reported)
0.56
5Y monthly, from filing
Unusual options activity
Nothing crossed the thresholds in the expiries we scanned.
That is the normal state — most contracts trade well inside their existing open interest.
That is the normal state — most contracts trade well inside their existing open interest.
Contracts trading at or above their open interest, ranked by notional and where the print landed.
Options analytics
Put / call volume
0.14
Call-heavy session
Put / call open interest
0.41
Positioning, not flow
Max pain
20.50
-3.3% from spot
ATM implied vol
20.9%
Nearest strike to spot
Skew (10% OTM)
+23.4%
Puts bid over calls
Call volume
2.62K
Contracts, this expiry
Put volume
365
Contracts, this expiry
Heaviest call OI
20.50
3.71K contracts
Heaviest put OI
20.00
2.41K contracts
Max pain is the strike at which the largest dollar value of open contracts expires worthless. It describes current positioning; it is not a forecast and it moves as open interest changes.
Put/call ratios, max pain, implied volatility skew and where open interest is concentrated.
Options chain
Calls
| Strike | Last | Bid | Ask | Vol | OI | IV |
|---|---|---|---|---|---|---|
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
Puts
| Strike | Last | Bid | Ask | Vol | OI | IV |
|---|---|---|---|---|---|---|
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
Every listed expiry, both sides of the book, with volume, open interest and implied volatility.
Headlines
Bilionaire Energy Transfer Co-founder Kelcy Warren Buys $21.3 Million Units. What Does This Mean for Investors?
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24/7 Wall St. · 20h ago
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24/7 Wall St. · 3d ago
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Is Energy Transfer (ET) Undervalued After Its Recent Rally?
Simply Wall St. · 3d ago
PRIVATE STRATEGY · BY QUALIFICATION
The same data. A different seat.
The research you are reading is the input layer for a discretionary options program we run for a small number of qualified investors. Minimum $1,000,000.