$100 billion pipeline company Energy Transfer will move stock listing from New York to Dallas

Energy Transfer (ET) reported strong Q2 2025 results with adjusted EBITDA up 31% YOY to $5.1B. The company raised its 2026 EBITDA outlook to $18.8B-$19.1B and aims for 3-5% annual dividend growth. It benefits from rising natural gas demand and long-term contracts, offering a 6.3% yield.

Energy Transfer, a major midstream energy company, is moving its primary stock listing from the NYSE to the new Texas Stock Exchange (TXSE), along with three affiliated companies. The total market value of the four companies is nearly $100 billion, marking the largest loss of listing business for the NYSE to a startup rival.

Energy Transfer, a $100B pipeline company, will move its primary stock listing from NYSE to the Texas Stock Exchange (TXSE) on Oct. 5, citing alignment with its Texas roots and TXSE's platform. CEO Kelcy Warren owns a 30% stake in TXSE Group. This marks a significant win for TXSE, which launched in July and is competing with NYSE and Nasdaq.

The Texas Stock Exchange (TXSE) secured its first primary equity listings, with Energy Transfer, USA Compression Partners, Sunoco LP, and SunocoCorp LLC moving from the NYSE. The companies have a combined market cap of nearly $100 billion. TXSE aims to challenge NYSE and Nasdaq by leveraging Texas's business-friendly policies, though analysts note past attempts faced challenges.

Energy Transfer and three affiliates (ET, SUN, SUNC, USAC) plan to move their primary listings from the NYSE to the Texas Stock Exchange (TXSE), representing nearly $100 billion in market value. The move, effective in early October, marks the first major listing loss for the NYSE. TXSE, backed by major firms, aims to attract more listings and has updated index eligibility rules to facilitate the transition.

Energy Transfer LP (ET) plans to move its common and preferred units from the NYSE to the Texas Stock Exchange (TXSE) by October 5, 2026. The ticker symbols (ET, ETprI) will remain unchanged. The company cited alignment with its Texas-based legacy and TXSE's technology-driven platform as reasons for the move.