“Interest expense, net of interest capitalized, increased for the three and six months ended June 30, 2026 compared to the same periods last year primarily due to an increase in aggregate debt balances following the acquisition of Parkland and the refinancing…”10-Q · Aug 6, 2026 ↗
Energy Transfer LP
ET
Market read
Energy Transfer LP's current read is isolated; its market group is not confirming.
No new filing conclusion is available. 0 of 19 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 27 directly disclosed connections are confirming.
- Transported volumes decreased on the Trunkline, Gulf Run, and Mississippi River systems because of lower demand.
Invalidation: The isolated read changes if ET's group or a disclosed connection begins moving with it.
Research brief
The story so far
No new filing conclusion is available. 0 of 19 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 27 directly disclosed connections are confirming.
No thresholded supportive filing evidence is available yet.
No thresholded adverse filing evidence is available yet.
- Transported volumes decreased on the Trunkline, Gulf Run, and Mississippi River systems because of lower demand.
Company research
Understand the business, not just the ticker
Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.
- Which operating variable is changing?
- Is that change durable, cyclical or one-off?
- What evidence would disprove the current interpretation?
- Credit and interest rates has repeated favorable evidence across 5 filings.
- Demand and volume has repeated favorable evidence across 5 filings.
- Energy and commodity prices has repeated favorable evidence across 5 filings.
No qualifying adverse evidence was identified; that is not proof there is no downside.
No credible peer-relative valuation comparison is available yet.
Price as of Sep 10, 2026
21.74Reported annual revenue and per-share history. This is accounting history, not a forecast.
What management says matters
Persistent and emerging business drivers
“Crude oil terminal volumes were higher due to higher customer throughput related to strategic petroleum reserve releases and crude export demand at our Gulf Coast terminals.”10-Q · Aug 6, 2026 ↗
“Crude oil terminal volumes were higher due to higher customer throughput related to strategic petroleum reserve releases and crude export demand at our Gulf Coast terminals.”10-Q · Aug 6, 2026 ↗
“As of September 30, 2025, USAC’s credit facility had $1.69 billion of remaining unused availability of which, due to restrictions related to compliance with the applicable financial covenants, $1.02 billion was available to be drawn.”10-Q · Nov 6, 2025 ↗
Valuation discipline
Descriptive valuation snapshot
Price/sales — · EV/sales —. Comparisons use only industry-matched filing peers.
No usable price/earnings or price/sales multiple (need a fresh price).
Price action
How the market is pricing the story
Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 10 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.
Developments
No sourced recent-development timeline yet
Jodie has not returned a relevant primary source or news item for ET. This is an evidence-coverage gap, not a conclusion that nothing material happened.
Business and financial condition
Reported financial figures are not available yet
Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.
Filing analysis
No comparable filing assessment is available yet
Jodie has not yet found a suitable current-versus-prior filing comparison for ET. This does not mean the latest filing was neutral or immaterial.
Business ecosystem
The relationships behind ET
Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.
Depends on
SUNCSunocoCorp LLCinvesteeNov 6, 2025 ▾
“SunocoCorp is expected to hold limited partnership units of Sunoco LP that are generally economically equivalent to Sunoco LP’s publicly traded common units on the basis of one Sunoco LP common unit for each outstanding SunocoCorp unit.”
KMIKinder Morgan, Inc.partnerFeb 19, 2026 ▾
“Hector Balderas, Attorney General filed a complaint against ETO, Transwestern, Kinder Morgan, Inc., El Paso Natural Gas L.L.C.”
Depended on by
FRMIFermi Inc.customerMar 30, 2026 ▾
“Natural Gas Supply and Fuel Infrastructure On October 9, 2025, we announced that we secured firm natural gas supply arrangements with Energy Transfer intended to support Phase 1 operations.”
Filing peers
Companies whose filings use similar operating language.
Open the three relationships above to see Jodie’s filing proof. Pro unlocks 24 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →
What is moving around it
Live connections
ET is currently a Early Follower in the organic co-movement group Oil & Gas Midstream. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 3 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.
Context history
Theme membership history
No durable theme membership has been observed for this name yet.