ET

In the past six months (March 2026 - September 2026), Energy Transfer LP's stock has been influenced by several key events. The company announced its decision to transfer its stock exchange listings to the Texas Stock Exchange on September 10, 2026, and formally announced its redomiciliation to Texas on July 2, 2026, a move that has raised governance concerns among some investors. Financially, Energy Transfer reported strong second-quarter 2026 results on August 4, 2026, with adjusted EBITDA rising by 30.8% year-over-year to approximately $5.1 billion and revenue significantly surpassing consensus estimates at $34.3 billion. Net income nearly doubled to $2.03 billion, and the company announced its nineteenth consecutive increase in quarterly cash distribution on July 27, 2026. Despite an EPS miss in Q1 2026, the stock price increased, suggesting operational strengths outweighed concerns. Insider buying activity was noted, with Kelcy Warren purchasing 1,000,000 shares and James Perry buying 12,359.37 shares in August 2026. Analyst coverage in September 2026 saw Melius initiating coverage with a "Hold" rating and TD Cowen increasing its price target to $25 with a "Buy" rating. The stock has shown strong market momentum, trading near its 52-week high of $21.84 and reflecting a nearly 30% year-to-date advance as of September 23, 2026. A significant strategic shift occurred in December 2025 when Energy Transfer discontinued its major LNG export terminal project in Louisiana, redirecting capital towards its pipeline backlog, which reportedly paid off in the most recent quarter, though a natural gas pipeline project in New Mexico has been postponed.