Energy Transfer raises guidance despite third quarter earnings miss

Energy Transfer LP (ET) filed an SEC Form 8-K — Results of Operations and Financial Condition. ENERGY TRANSFER REPORTS THIRD QUARTER 2026 RESULTS Dallas – November 3, 2026 - Energy Transfer LP (TXSE:ET) (“Energy Transfer” or the “Partnership”) today reported financial results for the quarter ended September 30, 2026. Energy Transfer reported net income attributable to part

Energy Transfer reported Q3 2026 financials, including adjusted EBITDA and distributable cash flow. The company announced a $2.6B acquisition and several growth projects, including a $1.6B South Mississippi Pipeline. Volumes grew across various segments, and the company declared a $1.37 quarterly distribution. Energy Transfer expects full-year 2026 adjusted EBITDA between $12.4B and $12.8B.

U.S. natural gas prices have dropped 24% this year, benefiting midstream operators like Kinder Morgan (KMI), Energy Transfer (ET), and Williams (WMB). These companies earn fees from transporting gas, and their stocks have risen 23%, 20%, and 17% YTD, respectively. KMI reported record Q3 earnings and plans $4.7B in gas pipeline investments. The EIA notes that 37% of U.S. gas is a byproduct of oil drilling, contributing to supply glut.

Energy Transfer LP (ET) is a midstream energy company with pipelines and infrastructure across 44 states. Over 10 years, a $1,000 investment grew to $1,870, with an average annual gain of 6.46%. The company plans growth through acquisitions, like the $2.6 billion deal for Vaquero Midstream, and offers a 7% dividend yield. ET is a master limited partnership, requiring K-1 tax forms.

The Pipeline and Hazardous Materials Safety Administration ordered Energy Transfer to inspect and repair its pipelines due to a system-wide risk of leaks, similar to past incidents in Michigan and Pennsylvania. The agency cited failures in repair sleeves and inadequate record-keeping. Energy Transfer's Twin Oaks pipeline, operated by Sunoco LP, is currently running at reduced pressure. Investigations into the leaks are ongoing, and a U.S. representative has called for pipeline safety reforms.

Energy Transfer and its affiliates (Sunoco, SunocoCorp, USA Compression Partners) listed on the Texas Stock Exchange, totaling nearly $100 billion in market value. Energy Transfer alone accounts for $73.5 billion. The exchange raised $430 million in funding, with support from major investors. This is the first primary corporate listing for the Texas Stock Exchange, which began trading in July.