Feed / ET

Energy Transfer LP

ET

Energy · 21.74 +0.3% today

Isolated · not yet confirmedMarket checked 10 Sept, 15:55 GMT-4

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.

Company+0.3% todayVolume comparison unavailable
Market group0 of 19 activeOil & Gas Midstream · unavailable
Disclosed network0 of 8 confirmingNo filing-linked name is confirming now
What would change this read
  • 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.

Watch this read

Research brief

The story so far

Energy · Oil & Gas Midstream

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.

Evidence that supports

No thresholded supportive filing evidence is available yet.

Evidence that challenges

No thresholded adverse filing evidence is available yet.

What would clarify the read
  • 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

As of Sep 11, 2026
Business model and earnings drivers

Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.

Key research questions
  • Which operating variable is changing?
  • Is that change durable, cyclical or one-off?
  • What evidence would disprove the current interpretation?
Annual periods9
Price observations327
Usable filing statements114
Verified relationships16
Evidence supporting the case
  • 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.
Evidence challenging the case

No qualifying adverse evidence was identified; that is not proof there is no downside.

Questions before a position

No credible peer-relative valuation comparison is available yet.

Longer-term price context

Price as of Sep 10, 2026

21.74
6m+15.9%12m+26.6%24m
Annual trajectory

Reported annual revenue and per-share history. This is accounting history, not a forecast.

PeriodRevenueYoYDiluted EPSShare change
2021-12-31$67.4B+73.1%
2022-12-31$89.9B+33.3%
2023-12-31$78.6B-12.6%
2024-12-31$82.7B+5.2%
2025-12-31$85.5B+3.5%

What management says matters

Persistent and emerging business drivers

Credit and interest ratesmixed · 5 filings
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
Demand and volumepositive · 5 filings
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
Energy and commodity pricespositive · 5 filings
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
Legal and regulatory exposuremixed · 2 filings
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.

Scenario scaffold

No usable price/earnings or price/sales multiple (need a fresh price).

Price action

How the market is pricing the story

21.74+0.3% today

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.