OakChart

Energy Transfer LP

ETEnergy·Oil & Gas Midstream·USA·Large·TXSE·Nov 11 • 9:17 AM ET

19.56+0.13 (0.65%)
2026-11-11 15:20 CET
Market cap
66,921.78 USD m
Revenue, TTM
124,528.00 USD m
Net income, TTM
5,229.00 USD m
Free cash flow, TTM
6,180.00 USD m
EPS diluted, TTM
1.51
P/E
12.94
Compare

Price

ET against its 20, 50 and 200-day averages
2050200beatmiss
18.0019.0020.0021.0022.009.9M19.8MMay 26Jun 26Jul 26Aug 26Sep 26Oct 26Nov 26ETclose 19.5620-day 20.0050-day 20.48200-day 19.7419.56

10.5% under 21.84 on 10 Sep 2026. Last 15 sessions, 12.1% high to low

Profile

ET
52-week range, 60% of the way up
16.1821.84

Energy Transfer LP engages in natural gas pipeline transportation and transmission services. It operates through the following segments: Intrastate Transportation and Storage, Interstate Transportation and Storage, Midstream, NGL and Refined Products Transportation and Services, Crude Oil Transportation and Services, Investment in Sunoco LP, Investment in USAC, and All Other. The Intrastate Transportation and Storage segment owns and operates natural gas transportation pipelines. The Interstate Transportation and Storage segment includes transportation pipelines, storage facilities, and gathering systems and delivery of natural gas to industrial end-users and other pipelines. The Midstream segment consists of natural gas gathering, compression, treating, processing, storage, and transportation. The NGL and Refined Products Transportation segment engages in the operations transport, store and execute acquisition, and marketing activities utilizing a complementary network of pipelines, storage and blending facilities, and strategic off-take locations that provide access to multiple NGL markets. The Crude Oil Transportation and Services segment provides transportation, terminalling, acquisition, and marketing services to crude oil markets. The Investment in Sunoco LP segment refers to the distribution of motor fuels to independent dealers, distributors, and other commercial customers and the distribution of motor fuels to end-user customers at retail sites. The Investment in USAC segment offers compression services to its customers in connection with infrastructure applications including both allowing for the processing and transportation of natural gas through the domestic pipeline system and enhancing crude oil production through artificial lift processes. The company was founded by Kelcy L. Warren in 1996 and is headquartered in Dallas, TX.

Employees22311
IPOFeb 03, 2006
Beta0.61
ATR, 14d0.45
Rel volume0.03
Short float0.80%
Insider own11.80%
Inst own30.63%

Snapshot

6 groups

Valuation

Index-
Market Cap67.35B
Enterprise Value155.09B
Income5.23B
Sales124.53B
Book/sh9.28
Cash/sh0.27
Dividend Est.1.37 (7.01%)
Dividend TTM1.35 (6.93%)
Dividend Ex-DateNov 06, 2026
Dividend Gr. 3/5Y14.62% 4.13%
Payout108.73%
Employees22311
IPOFeb 03, 2006

Ratios

P/E12.94
Forward P/E11.55
PEG0.87
P/S0.54
P/B2.11
P/C72.74
P/FCF10.90
EV/EBITDA8.86
EV/Sales1.25
Quick Ratio0.92
Current Ratio1.16
Debt/Eq2.05
LT Debt/Eq2.05
Option/ShortYes / Yes

Earnings

EPS (ttm)1.51
EPS next Y1.69
EPS next Q0.41
EPS this Y42.23%
EPS next Y-1.61%
EPS next 5Y13.32%
EPS past 3/5Y-4.72% -
Sales past 3/5Y-1.64% 17.04%
EPS Y/Y TTM20.88%
Sales Y/Y TTM56.13%
EPS Q/Q18.49%
Sales Q/Q85.94%
EarningsNov 03 BMO
EPS/Sales Surpr.-18.80% 14.42%

Ownership

Insider Own11.80%
Insider Trans0.25%
Inst Own30.63%
Inst Trans-
ROA3.93%
ROE15.83%
ROIC5.22%
Gross Margin10.29%
Oper. Margin9.04%
Profit Margin4.20%
SMA20-2.24%
SMA50-4.51%
SMA200-0.96%
Trades-

Technical

Shs Outstand3.44B
Shs Float3.04B
Short Float0.80%
Short Ratio2.79
Short Interest24.33M
52W High21.84 -10.46%
52W Low16.18 20.86%
Volatility2.74% 2.27%
ATR (14)0.45
RSI (14)42.93
Beta0.61
Rel Volume0.03
Avg Volume8.71M
Volume14,972

Performance

Perf Week0.49%
Perf Month-4.51%
Perf Quarter-5.80%
Perf Half Y-2.71%
Perf YTD18.59%
Perf Year17.10%
Perf 3Y48.82%
Perf 5Y113.26%
Perf 10Y15.10%
Recom1.58
Target Price24.69
Prev Close19.43
Price19.56
Change %0.65%

Analyst ratings

latest 10 of 20
DateActionAnalystRating changeTargetImplied
Sep 22, 2026InitiatedMMeliusHold$25+27.8%
Sep 22, 2026InitiatedCCapitalOneOverweight$26+33.0%
Sep 10, 2026ResumedSStifelBuy$25+27.8%
May 26, 2026UpgradeJJefferiesHold → Buy$23+17.6%
Mar 24, 2026InitiatedTTruistBuy$23+17.6%
Feb 18, 2026ReiteratedTTD CowenBuy$20 → $21+7.4%
Dec 18, 2025DowngradeMMorgan StanleyOverweight → Equal-Weight$19-2.8%
Oct 29, 2025InitiatedJJefferiesHold$17-13.1%
Sep 02, 2025InitiatedBScotiabankSector Outperform$23+17.6%
Jul 07, 2025InitiatedTTD CowenBuy$22+12.5%

Peers

Mkt cap
TickerCompanyMkt cap
EPDEnterprise Products Partners L P80.87B
KMIKinder Morgan Inc70.17B
WMBWilliams Cos Inc85.86B
MPLXMPLX LP57.86B
OKEOneok Inc55.58B
TRGPTarga Resources Corp61.10B
ENBEnbridge Inc107.25B
PAAPlains All American Pipeline LP16.92B
TRPTC Energy Corp66.12B
LNGCheniere Energy Inc60.56B

Insider trading

7 filings
InsiderRelationshipDateTransactionCostSharesValueTotal heldForm
WARREN KELCY LDirectorAug 19 '26Buy21.26647,96813,775,800147,901,879Aug 20 05:14 PM
WARREN KELCY LDirectorAug 18 '26Buy21.27352,0327,487,721147,253,911Aug 20 05:14 PM
Perry James RichardDirectorAug 07 '26Buy20.2312,359250,000208,046Aug 10 06:00 PM
Alvarez Oscar A.DirectorJun 08 '26Proposed Sale19.293,11660,092Jun 08 04:27 PM
Perry James RichardOfficerMar 13 '26Proposed Sale18.561,33424,759Mar 13 10:12 AM
WARREN KELCY LDirectorNov 19 '25Buy16.951,000,00016,950,000104,577,803Nov 20 05:23 PM
WARREN KELCY LDirectorNov 20 '25Buy16.811,000,00016,810,000105,577,803Nov 20 05:23 PM

Held by

AUM
TickerCompanyAUM
VOLTTema Electrification ETFAUM: 879.34M
ENFRAlerian Energy Infrastructure ETFAUM: 522.14M
EIPXFT Energy Income Partners Strategy ETFAUM: 573.65M
TPYPTortoise North American Pipeline ETFAUM: 875.89M
PWVInvesco Large Cap Value ETFAUM: 1.86B
TBGTBG Dividend Focus ETFAUM: 337.88M
USAIPacer American Energy Infrastructure ETFAUM: 122.65M
TOLZProShares DJ Brookfield Global Infrastructure ETFAUM: 172.79M
FTHIFirst Trust BuyWrite Income ETFAUM: 2.54B
NBETNeuberger Energy Transition & Infrastructure ETFAUM: 54.24M

News

latest 14 of 103
  • This energy stock remains a top pick at Wells Fargo post Q3 (Investing.com)
  • Energy Transfer sanctions $1.6bn South Mississippi pipeline project (Offshore Technology)
  • Energy Transfer's GAAP Miss Hides A Third Straight Guidance Raise, But Volatility-Driven Gains Cloud The 2027 Setup (Earnings Whispers)
  • What the Midterms Will Mean for Wall Street and Trump's Agenda (Barrons.com)
  • Energy Transfer Approves $1.6 Billion Gas Pipe as AI Use Soars (Bloomberg)
  • Loading…
  • Energy Transfer LP: Q3 Earnings Snapshot (Associated Press)
  • Energy Transfer's Hugh Brinson Ramp Faces Test As Street Braces For Sequential Earnings Dip (Earnings Whispers)
  • Four Energy Deals in Four Days as Brent Holds Above $100 (PR Newswire)
  • Better Dividend Stock: Kinder Morgan vs. Energy Transfer (TIKR)
  • The TXSE Launched Monday. It Aims To Make 'Wall Street' Less Relevant. (Investor's Business Daily)
  • Energy Transfer to buy Vaquero Midstream for $2.6bn (Offshore Technology)
  • Sunoco LP and SunocoCorp LLC Announce Third Quarter 2026 Earnings Release and Call Timing (Business Wire)
  • Energy Transfer Announces Third Quarter 2026 Earnings Release and Earnings Call Timing (Business Wire)

Quarterly earnings

actual against estimate
PeriodReportedEPS actEPS estEPS repSales actSales estAnalysts
2026Q32026-11-030.3300.4060.33037,10332,42716
2026Q22026-08-040.5900.3800.58534,33427,71212
2026Q12026-05-050.3500.4000.34527,77125,58112
2025Q42026-02-170.2500.3730.25125,32024,01213
2025Q32025-11-050.2800.3330.27819,95421,92112
2025Q22025-08-060.3200.3290.31619,24222,52910
2025Q12025-05-060.3600.3590.36421,02021,5389
2024Q42025-02-110.2900.3730.29219,54121,40710
2024Q32024-11-060.3200.3310.32420,77221,58611
2024Q22024-08-070.3500.3480.34820,72922,00810
2024Q12024-05-080.3200.3670.32121,62920,90911
2023Q42024-02-140.3700.3370.36520,53221,45911
2023Q32023-11-010.1500.3350.14720,73920,92312
2023Q22023-08-020.2500.3160.25318,32020,40310
2023Q12023-05-020.3200.3710.32218,99521,4869
2022Q42023-02-150.3400.3870.33820,50124,19412

Annual earnings

PeriodEPS actEPS estEPS repSales actSales est
2019FY1.4011.3931.33254,21354,385
2020FY-0.284-0.235-0.24038,95440,467
2021FY1.8901.8751.89167,41766,465
2022FY1.4001.4711.39889,87688,429
2023FY1.0901.1571.09278,58676,095
2024FY1.2801.3641.28482,67180,347
2025FY1.2101.3401.27485,53680,920
2026FY-1.721--125,359
2027FY-1.693--129,358
2028FY-1.761--131,687
2029FY-1.909--133,810
2030FY-2.226--139,629

Estimate revisions

last 14 periods
PeriodTypeDateEstimatesUpDownMeanLowHigh
2026Q4S2026-11-1191231,59225,96537,755
2026Q4S2026-11-0992231,59225,96537,755
2026Q4S2026-11-0592231,62125,96537,755
2026Q4S2026-11-0393231,62125,96537,755
2026Q4S2026-10-2882232,07325,96537,755
2026Q4S2026-10-2692230,75520,21137,755
2026Q4S2026-10-1893230,75520,21137,755
2026Q4S2026-10-1594230,75520,21137,755
2026Q4S2026-10-1494230,38420,21135,642
2026Q4S2026-10-1295130,43320,21135,581
2026Q4S2026-10-0995130,44420,21135,581
2026Q4S2026-10-0685030,67120,21135,581
2026Q4S2026-09-2285030,65420,21135,581
2026Q4S2026-09-1775030,74720,21135,581

Estimate history

EPS, annual0.7991.1411.332-0.241.8911.3981.0921.2841.2091.5109
Period201720182019202020212022202320242025TTM
EPS, quarterly0.3240.2920.3640.3160.2780.2510.3450.5850.329
PeriodQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
Sales, annual405235408754216389546741789876785868267185536124528
Period201720182019202020212022202320242025TTM
Sales, quarterly207721954121020192421995425320277713433437103
PeriodQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
Shares, annual1079.1462619.3692689.5812702.3723082.5173094.4453367.5263431.0883439.9873443.6
Period201720182019202020212022202320242025MRQ
Shares, quarterly3423.73431.0883431.73432.63433.43439.9873440.63442.23443.6
PeriodQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26

Income statement, annual

Currency USD, millions
MetricTTM2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY
Total Revenue124,528.0085,536.0082,671.0078,586.0089,876.0067,417.0038,954.0054,216.0054,087.00
Cost of Goods Sold Incl. D&A111,713.0075,044.0072,361.0069,341.0080,858.0057,933.0032,409.0046,321.0047,533.00
Gross Profit12,815.0010,492.0010,310.009,245.009,018.009,484.006,545.007,895.006,554.00
Selling, General and Administrative Excl. Other1,554.001,180.001,177.00985.001,018.00818.00711.00694.00702.00
Other Operating Expense0.000.000.000.000.000.000.000.000.00
Operating Income11,261.009,312.009,133.008,260.008,000.008,666.005,834.007,201.005,852.00
Interest Expense3,735.003,474.003,125.002,578.002,306.002,267.002,327.002,331.002,055.00
Unusual Expense-152.00319.001.00554.00-31.00-149.003,261.00257.00569.00
Net Income Before Taxes8,217.006,058.007,106.005,597.006,072.006,871.00377.005,020.003,634.00
Income Taxes659.00350.00541.00303.00204.00184.00237.00195.004.00
Consolidated Net Income7,558.005,708.006,565.005,294.005,868.006,687.00140.004,825.003,630.00
Net Income From Continuing Operations5,472.004,429.004,810.003,932.004,752.005,464.00-647.003,514.001,956.00
Net Income5,229.004,173.004,394.003,469.004,330.005,179.00-647.003,514.001,658.00
EPS (Recurring)1.481.271.281.211.391.850.611.401.41
EPS (Basic, Before Extraordinaries)1.521.221.291.101.401.89-0.241.341.17
EPS (Diluted)1.511.211.281.091.401.89-0.241.331.14
EBITDA17,509.0014,994.0014,298.0012,645.0012,164.0012,483.009,512.0010,348.008,711.00
Non-Operating Income (Expense)539.00539.001,099.00469.00347.00323.00131.00407.00406.00
Other After Tax Adjustments0.000.000.000.000.000.000.000.000.00
Price To Earnings Ratio12.8612.86-----9.4311.22
Price To Sales Ratio0.550.670.810.560.410.330.430.620.36
Gross Margin10.2912.2712.4711.7610.0314.0716.8014.5612.12
Operating Margin9.0410.8911.0510.518.9012.8514.9813.2810.82
Net Margin4.204.885.324.414.827.68-1.666.483.07
Shares Outstanding3,443.603,439.993,431.093,367.533,094.453,082.522,702.372,689.582,619.37
Market Capitalization66,921.7866,921.7867,074.5946,404.0236,660.1422,269.2316,673.6434,443.4234,571.89

Income statement, quarterly

Currency USD, millions
Metric2026Q32026Q22026Q12025Q42025Q32025Q22025Q12024Q4
Total Revenue37,103.0034,334.0027,771.0025,320.0019,954.0019,242.0021,020.0019,541.00
Cost of Goods Sold Incl. D&A33,600.0030,580.0024,819.0022,714.0017,524.0016,557.0018,249.0017,177.00
Gross Profit3,503.003,754.002,952.002,606.002,430.002,685.002,771.002,364.00
Selling, General and Administrative Excl. Other405.00421.00361.00367.00268.00257.00288.00288.00
Other Operating Expense0.000.000.000.000.000.000.000.00
Operating Income3,098.003,333.002,591.002,239.002,162.002,428.002,483.002,076.00
Interest Expense944.00934.00947.00910.00890.00865.00809.00807.00
Unusual Expense310.00-243.00-385.00166.0023.00136.00-6.00-202.00
Net Income Before Taxes2,001.002,724.002,111.001,381.001,379.001,537.001,761.001,583.00
Income Taxes187.00194.00135.00143.0087.0079.0041.00136.00
Consolidated Net Income1,814.002,530.001,976.001,238.001,292.001,458.001,720.001,447.00
Net Income From Continuing Operations1,206.002,086.001,253.00927.001,018.001,162.001,322.001,076.00
Net Income1,140.002,027.001,194.00868.00959.001,091.001,255.001,008.00
EPS (Recurring)0.390.540.270.290.280.340.360.25
EPS (Basic, Before Extraordinaries)0.330.590.350.250.280.320.370.29
EPS (Diluted)0.330.590.350.250.280.320.360.29
EBITDA4,697.004,908.004,174.003,730.003,602.003,812.003,850.003,450.00
Non-Operating Income (Expense)157.0082.0082.00218.00130.00110.0081.00112.00
Other After Tax Adjustments0.000.000.000.000.000.000.000.00
Stock Option Compensation Expense------29.23-
Price To Earnings Ratio12.86-------
Price To Sales Ratio0.550.620.720.660.740.780.780.82
Gross Margin9.4410.9310.6310.2912.1813.9513.1812.10
Operating Margin8.359.719.338.8410.8312.6211.8110.62
Net Margin3.075.904.303.434.815.675.975.16
Shares Outstanding3,443.603,442.203,440.603,439.993,433.403,432.603,431.703,431.09
Market Capitalization66,921.7865,794.9866,397.9856,616.6058,904.7962,218.1763,786.1967,074.59

Balance sheet, annual

Currency USD, millions
Metric2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY
Cash & Short Term Investments1,324.00321.00227.00267.00346.00376.00314.00530.00360.00
Short Term Receivables11,451.0010,334.009,215.008,627.007,740.003,989.005,343.004,193.004,693.00
Inventories4,986.003,220.002,683.002,795.002,229.001,814.001,627.001,818.002,086.00
Other Current Assets472.00327.00308.00392.00222.00138.00180.00209.003,544.00
Total Current Assets18,233.0014,202.0012,433.0012,081.0010,537.006,317.007,464.006,750.0010,683.00
Net Property, Plant & Equipment103,983.0096,021.0086,177.0081,130.0082,445.0075,973.0075,157.0066,963.0061,088.00
Total Investments and Advances3,799.003,482.003,218.003,014.003,111.003,239.003,638.002,820.002,897.00
Intangible Assets12,890.009,874.0010,258.007,981.008,389.008,137.0011,321.0010,885.0010,884.00
Deferred Tax Assets454.00239.00417.00644.00804.00947.00933.00900.00720.00
Other Assets2,381.001,801.001,612.001,437.001,481.001,478.001,393.00828.00694.00
Total Assets141,740.00125,619.00114,115.00106,287.00106,767.0096,091.0099,906.0089,146.0086,966.00
Short Term Debt Incl. Current Port. of LT Debt270.0075.001,064.0048.00728.0075.0087.002,655.00413.00
Accounts Payable9,510.008,325.006,684.006,969.006,834.002,836.004,149.003,552.004,716.00
Income Tax Payable--------180.00
Other Current Liabilities5,175.004,256.003,529.003,351.003,273.003,012.003,488.003,103.002,768.00
Total Current Liabilities14,955.0012,656.0011,277.0010,368.0010,835.005,923.007,724.009,310.007,897.00
Long Term Debt69,823.0060,482.0052,158.0049,059.0049,837.0052,255.0051,931.0043,373.0043,671.00
Provision for Risks Charges0.000.000.000.000.000.000.000.000.00
Deferred Tax Liabilities5,761.004,429.004,348.004,345.004,452.004,375.004,141.003,826.004,035.00
Other Liabilities1,941.001,618.001,615.001,363.001,515.001,388.001,433.001,288.001,362.00
Total Liabilities92,480.0079,185.0069,398.0065,135.0066,639.0063,941.0065,229.0057,797.0056,965.00
Non-Equity Reserves0.000.000.000.000.000.000.000.000.00
Preferred Stock - Carrying Value3,356.003,852.006,459.006,051.006,051.000.000.000.00450.00
Common Equity31,012.0031,268.0030,225.0026,976.0025,253.0018,537.0021,924.0020,564.00-1,643.00
Total Shareholders Equity34,368.0035,120.0036,684.0033,027.0031,304.0018,537.0021,924.0020,564.00-1,193.00
Accumulated Minority Interest14,892.0011,314.008,033.008,125.008,824.0013,613.0012,753.0010,785.0031,194.00
Total Equity49,260.0046,434.0044,717.0041,152.0040,128.0032,150.0034,677.0031,349.0030,001.00
Total Liabilities & Stockholders Equity141,740.00125,619.00114,115.00106,287.00106,767.0096,091.0099,906.0089,146.0086,966.00
Book Value Per Share9.029.118.988.728.196.868.157.85-1.52
Tangible Book Value Per Share5.276.245.936.145.473.853.943.70-11.61
Full-Time Employees22,31116,24813,78612,56512,55811,42112,81211,76829,486
Price to Book Ratio2.09-----1.581.68-11.89
Return on Assets3.314.013.574.465.39-0.663.722.221.36
Return on Equity12.7513.4011.2814.7721.93-3.2116.5420.20-
Return on Invested Capital4.255.034.435.796.73-0.914.762.642.24
Quick Ratio0.890.870.860.900.770.760.760.531.09
Current Ratio1.221.121.101.170.971.070.970.731.35

Cash flow, annual

Currency USD, millions
MetricTTM2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY
Net Income7,558.005,708.006,565.005,294.005,868.006,687.00140.004,825.003,365.00
Depreciation6,248.005,682.005,165.004,385.004,164.003,817.003,678.003,147.002,859.00
Other Funds (Non Cash)272.00618.00-229.00187.00396.00169.003,473.00356.001,069.00
Funds from Operations14,376.0012,186.0011,777.0010,069.0010,615.0010,814.007,501.008,545.007,286.00
Extraordinary Item0.000.000.000.000.000.000.000.000.00
Changes in Working Capital-709.00-1,976.00-196.00-451.00-1,502.00515.0047.00-391.00289.00
Cash from Operating Activities13,667.0010,210.0011,581.009,618.009,113.0011,329.007,548.008,154.007,575.00
Capital Expenditures-7,487.00-6,303.00-4,164.00-3,134.00-3,381.00-2,822.00-5,130.00-5,960.00-7,407.00
Net Assets From Acquisitions-2,697.00-2,261.00-2,732.00-1,329.00-1,141.00-256.000.00-794.00-429.00
Sale of Fixed Assets and Businesses27.0027.001,627.003.00405.00322.00241.00495.001,197.00
Purchase or Sale of Investments-45.00-10.00-206.00-6.000.00-4.00-38.00-523.00-26.00
Purchase of Investments-45.00-10.00-206.00-6.000.00-4.00-38.00-523.00-26.00
Sale Or Maturity of Investments0.000.000.000.000.000.00--0.00
Other Uses-24.000.000.000.000.000.00-3.000.003,207.00
Other Sources198.00140.00136.0081.00438.0044.0067.0098.00-314.00
Cash from Investing Activities-10,028.00-8,407.00-5,339.00-4,385.00-3,679.00-2,716.00-4,863.00-6,684.00-3,772.00
Cash Dividends Paid-4,832.00-4,725.00-4,623.00-4,248.00-3,047.00-1,898.00-2,802.00-3,054.00-1,684.00
Change in Capital Stock-900.00973.00-3,466.000.000.00858.001,580.00755.001,378.00
Repurchase of Common Pref Stock-900.00-500.00-3,466.000.000.00-31.000.00-25.00-24.00
Sale of Common Pref Stock0.001,473.000.000.000.00889.001,580.00780.001,402.00
Proceedsfrom Stock Options0.001,473.000.000.000.00889.001,580.00780.001,402.00
Issuance or Reduction of Debt, Net1,553.004,699.003,845.00669.00-870.00-6,065.00248.002,365.00-118.00
Change in Long Term Debt1,553.004,699.003,845.00669.00-870.00-6,065.00248.002,365.00-118.00
Issuance of Long Term Debt32,227.0032,751.0034,003.0032,085.0028,811.0021,253.0024,381.0022,466.0028,830.00
Reduction of Long Term Debt-30,674.00-28,052.00-30,158.00-31,416.00-29,681.00-27,318.00-24,133.00-20,101.00-28,948.00
Net Financing Active Other Cash Flow-2,108.00-1,790.00-1,847.00-1,750.00-1,596.00-1,539.00-1,635.00-1,664.00-3,307.00
Other Financing Activities Uses-2,133.00-1,800.00-1,847.00-1,750.00-1,596.00-1,539.00-1,700.00-1,664.00-3,307.00
Cash from Financing Activities-6,287.00-843.00-6,091.00-5,329.00-5,513.00-8,644.00-2,609.00-1,598.00-3,731.00
Net Change in Cash-2,648.00960.00151.00-96.00-79.00-31.0076.00-128.0072.00
Free Cash Flow6,180.003,907.007,417.006,484.005,732.008,507.002,418.002,194.00168.00
Preferred Dividends (Cash Flow)------0.000.00-
Price to Free Cash Flow50.84-23.9819.6113.693.41---
Deferred Taxes & Investment Tax Credit-178.00276.00203.00187.00141.00210.00217.00-7.00

Balance sheet, quarterly

Currency USD, millions
Metric2026Q32026Q22026Q12025Q42025Q32025Q2
Cash & Short Term Investments926.001,020.00971.001,324.003,594.00254.00
Short Term Receivables17,527.0017,069.0015,890.0011,451.0010,040.0010,103.00
Inventories4,951.004,385.004,645.004,986.003,269.002,795.00
Other Current Assets739.00639.00757.00472.00539.00519.00
Total Current Assets24,143.0023,113.0022,263.0018,233.0017,442.0013,671.00
Net Property, Plant & Equipment106,349.00106,035.00105,985.00103,983.0096,909.0096,359.00
Total Investments and Advances3,661.003,637.003,646.003,799.003,269.003,243.00
Intangible Assets12,731.0012,768.0012,899.0012,890.009,563.009,677.00
Deferred Tax Assets---454.00--
Other Assets2,502.002,615.002,689.002,381.002,148.002,072.00
Total Assets149,386.00148,168.00147,482.00141,740.00129,331.00125,022.00
Short Term Debt Incl. Current Port. of LT Debt230.00227.00220.00270.0075.0073.00
Accounts Payable14,163.0013,767.0013,152.009,510.007,336.007,537.00
Other Current Liabilities6,465.005,864.005,671.005,175.004,999.004,239.00
Total Current Liabilities20,858.0019,858.0019,043.0014,955.0012,410.0011,849.00
Long Term Debt70,482.0070,014.0070,886.0069,823.0063,899.0061,503.00
Provision for Risks Charges0.000.000.000.000.000.00
Deferred Tax Liabilities5,635.005,572.005,591.005,761.004,263.004,204.00
Other Liabilities2,494.001,946.001,973.001,941.001,615.001,609.00
Total Liabilities99,469.0097,390.0097,493.0092,480.0082,187.0079,165.00
Non-Equity Reserves0.000.000.000.000.000.00
Preferred Stock - Carrying Value2,480.003,356.003,388.003,356.003,388.003,356.00
Common Equity31,963.0031,976.0031,076.0031,012.0031,291.0031,425.00
Total Shareholders Equity34,443.0035,332.0034,464.0034,368.0034,679.0034,781.00
Accumulated Minority Interest15,474.0015,446.0015,525.0014,892.0012,465.0011,076.00
Total Equity49,917.0050,778.0049,989.0049,260.0047,144.0045,857.00
Total Liabilities & Stockholders Equity149,386.00148,168.00147,482.00141,740.00129,331.00125,022.00
Book Value Per Share9.289.299.039.029.119.15
Tangible Book Value Per Share5.585.585.285.276.336.34
Full-Time Employees---22,311--
Price to Book Ratio2.09-----
Return on Assets3.933.873.183.313.613.85
Return on Equity15.8315.0712.5012.7513.0913.73
Return on Invested Capital1.151.981.190.891.031.21
Quick Ratio0.920.940.930.891.140.92
Current Ratio1.161.161.171.221.411.15

Cash flow, quarterly

Currency USD, millions
Metric2026Q32026Q22026Q12025Q42025Q32025Q2
Net Income1,814.002,530.001,976.001,238.001,292.001,458.00
Depreciation1,599.001,575.001,583.001,491.001,440.001,384.00
Other Funds (Non Cash)67.00120.00-451.00536.00-14.00108.00
Funds from Operations3,501.004,299.003,201.003,375.002,779.002,973.00
Extraordinary Item0.000.000.000.000.000.00
Changes in Working Capital556.0012.00216.00-1,493.00-186.00-175.00
Cash from Operating Activities4,057.004,311.003,417.001,882.002,593.002,798.00
Capital Expenditures-1,884.00-1,564.00-1,916.00-2,123.00-1,297.00-1,659.00
Net Assets From Acquisitions-15.00-97.00-689.00-1,896.00-261.00-92.00
Sale of Fixed Assets and Businesses20.004.003.000.0022.003.00
Purchase or Sale of Investments-10.00-8.00-22.00-5.00-1.00-3.00
Purchase of Investments-10.00-8.00-22.00-5.00-1.00-3.00
Sale Or Maturity of Investments0.000.000.000.000.000.00
Other Uses-24.000.000.000.000.000.00
Other Sources21.0029.0054.0094.0010.0017.00
Cash from Investing Activities-1,892.00-1,636.00-2,570.00-3,930.00-1,527.00-1,734.00
Cash Dividends Paid-1,202.00-1,241.00-1,168.00-1,221.00-1,150.00-1,221.00
Change in Capital Stock-900.000.000.000.001,473.00-500.00
Repurchase of Common Pref Stock-900.000.000.000.000.00-500.00
Sale of Common Pref Stock0.000.000.000.001,473.000.00
Proceedsfrom Stock Options0.000.000.000.001,473.000.00
Issuance or Reduction of Debt, Net431.00-832.00552.001,402.002,330.00946.00
Change in Long Term Debt431.00-832.00552.001,402.002,330.00946.00
Issuance of Long Term Debt2,236.0011,836.0012,168.005,987.0010,671.005,552.00
Reduction of Long Term Debt-1,805.00-12,668.00-11,616.00-4,585.00-8,341.00-4,606.00
Net Financing Active Other Cash Flow-588.00-533.00-552.00-435.00-387.00-500.00
Other Financing Activities Uses-603.00-533.00-552.00-445.00-387.00-500.00
Cash from Financing Activities-2,259.00-2,606.00-1,168.00-254.002,266.00-1,275.00
Net Change in Cash-94.0069.00-321.00-2,302.003,332.00-211.00
Free Cash Flow2,173.002,747.001,501.00-241.001,296.001,139.00
Price to Free Cash Flow50.84126.61--101.0356.36

Revenue breakdown

NGL sales2024: 19.11B 2025: 19.04B
Natural Gas, Midstream2024: 12.03B 2025: 12.42B
Natural gas sales2024: 2.74B 2025: 4.66B
Oil and Gas2024: 25.37B 2025: 23.49B
Oil and Gas, Refining and Marketing2024: 22.05B 2025: 24.21B
Product and Service, Other2024: 1.38B 2025: 1.72B
United States2024: 82.67B 2025: 85.54B
Consolidation, Policy2024: -12.34B 2025: -14.85B
Crude oil transportation and services2024: 28.54B 2025: 26.48B
Interstate Transportation and Storage2024: 2.30B 2025: 2.45B
Intrastate Transportation And Storage2024: 3.05B 2025: 4.00B
Investment In Sunoco LP2024: 22.69B 2025: 25.20B
Investment In USAC2024: 950.00M 2025: 998.00M
Midstream2024: 11.20B 2025: 12.50B
NGL and refined products transportation and services2024: 24.53B 2025: 24.85B
Other Operating2024: 1.75B 2025: 3.91B

Short interest

shares short against float, oldest to newest
SettlementOf floatShares shortFloatAvg volume
2026-10-300.80%24.3M3038.0M8.64M
2026-10-150.83%25.3M3037.1M8.86M
2026-09-300.89%26.9M3037.1M8.77M
2026-09-151.03%31.1M3037.1M8.58M
2026-08-310.88%26.6M3035.3M8.84M
2026-08-140.95%28.8M3035.3M9.18M
2026-07-310.86%26.1M3034.8M10.35M
2026-07-151.11%33.6M3032.9M11.31M
2026-06-301.08%32.7M3033.0M13.47M
2026-06-151.06%32.2M3032.9M14.49M
2026-05-291.04%31.6M3032.9M15.55M
2026-05-151.07%32.5M3032.9M16.21M
2026-04-301.03%31.1M3012.5M16.17M
2026-04-150.96%28.9M3011.7M16.61M
2026-03-311.01%30.5M3013.2M15.72M
2026-03-131.03%31.2M3013.2M15.51M
2026-02-270.94%28.5M3013.2M14.99M
2026-02-130.97%29.3M3013.2M15.35M
2026-01-301.05%31.6M3014.1M15.18M
2026-01-151.09%32.9M3014.1M14.67M

Option chain

expiry 2026-11-13
TypeStrikeBidAskLastIVOpen intVolumeDeltaThetaVega
call12.000.000.007.24-2.000.00---
call13.000.000.006.31-6.000.00---
call14.000.000.005.39-8.000.00---
call15.000.000.004.42-7.000.00---
call15.500.000.003.98-8.000.00---
call16.000.000.002.98-1.000.00---
call16.500.000.002.90-2.000.00---
call17.000.000.002.33-2.000.00---
call17.500.000.001.89-1.000.00---
call18.000.000.001.48-1610.00---
call18.500.000.000.85-35.000.00---
call19.000.000.000.56-3640.00---
call19.500.000.000.13-1,7540.00---
call20.000.000.000.03-9090.00---
call20.500.000.000.01-1,3510.00---
call21.000.000.000.01-2,2830.00---
call21.500.000.000.01-4830.00---
call22.000.000.000.01-3510.00---
call22.500.000.000.01-1420.00---
call23.000.000.000.09-1.000.00---
call23.500.000.000.01-3240.00---
call24.000.000.000.00-0.000.00---
call24.500.000.000.00-0.000.00---
call25.000.000.000.00-0.000.00---
call25.500.000.000.07-2.000.00---
call26.000.000.000.00-0.000.00---
call26.500.000.000.00-0.000.00---
call30.000.000.000.00-0.000.00---
put12.000.000.000.03-1.000.00---
put13.000.000.000.08-1.000.00---
put14.000.000.000.00-0.000.00---
put15.000.000.000.07-4.000.00---
put15.500.000.000.01-4.000.00---
put16.000.000.000.05-12.000.00---
put16.500.000.000.01-8.000.00---
put17.000.000.000.01-21.000.00---
put17.500.000.000.01-3160.00---
put18.000.000.000.02-1,2030.00---
put18.500.000.000.02-3430.00---
put19.000.000.000.05-8110.00---
put19.500.000.000.22-8470.00---
put20.000.000.000.57-5450.00---
put20.500.000.001.47-31.000.00---
put21.000.000.002.00-1.000.00---
put21.500.000.001.71-1.000.00---
put22.000.000.003.03-0.000.00---
put22.500.000.000.00-0.000.00---
put23.000.000.000.00-0.000.00---
put23.500.000.004.47-0.000.00---
put24.000.000.004.70-3.000.00---
put24.500.000.005.14-5.000.00---
put25.000.000.005.70-1.000.00---
put25.500.000.006.20-5.000.00---
put26.000.000.006.70-7.000.00---
put26.500.000.007.20-1.000.00---
put30.000.000.000.00-0.000.00---

Latest SEC filings

30
FiledFormDescriptionPeriodLink
2026-11-09424B2SEC
2026-11-068-KCurrent report2026-11-05SEC
2026-11-0510-QQuarterly report pursuant to Section 13 or 15(d)2026-09-30SEC
2026-11-05FWPFiling under Securities Act Rule 163/433 of free writing prospectuses.SEC
2026-11-05424B5SEC
2026-11-038-KCurrent report2026-11-03SEC
2026-10-06S-3DPOSPost-effective amendment to a S-3D registration statementSEC
2026-09-30CERTSEC
2026-09-2825Notification of removal from listing and/or registration from a national securities exchangeSEC
2026-09-288-A12BSEC
2026-09-24SDSpecialized Disclosure ReportSEC
2026-09-108-KCurrent report2026-09-03SEC
2026-08-204Statement of changes in beneficial ownership of securities2026-08-18SEC
2026-08-104Statement of changes in beneficial ownership of securities2026-08-07SEC
2026-08-0610-QQuarterly report pursuant to Section 13 or 15(d)2026-06-30SEC
2026-08-048-KCurrent report2026-08-04SEC
2026-07-27EFFECTEffectiveness filing by commission orderSEC
2026-07-218-KCurrent report2026-07-20SEC
2026-07-17S-8 POSPost-effective amendment to a S-8 registration statementSEC
2026-07-17S-8 POSPost-effective amendment to a S-8 registration statementSEC
2026-07-17S-8 POSPost-effective amendment to a S-8 registration statementSEC
2026-07-17S-3DPOSPost-effective amendment to a S-3D registration statementSEC
2026-07-17POS AMPost-effective amendment to a registration statement that is not immediately effective upon filingSEC
2026-07-08424B2SEC
2026-07-088-KCurrent report2026-07-06SEC
2026-07-06FWPFiling under Securities Act Rule 163/433 of free writing prospectuses.SEC
2026-07-06424B5SEC
2026-07-06POSASRPost-effective amendment to an automatic shelf registration statement of Form S-3ASR or Form F-3ASRSEC
2026-07-068-K12B2026-07-06SEC
2026-06-08144Filing for proposed sale of securities under Rule 144.SEC

Insider activity by month

MonthBoughtBuysSoldSells
2026-110000
2026-100000
2026-090000
2026-0821.51M300
2026-070000
2026-060000
2026-050000
2026-040000
2026-030000
2026-020000
2026-010000
2025-120000
2025-1133.76M200

Institutional holders

Manager% owned
MORGAN STANLEY2.49%
ALPS ADVISORS INC2.46%
JPMORGAN CHASE & CO2.36%
GOLDMAN SACHS GROUP INC1.83%
Invesco Ltd.1.60%
TORTOISE CAPITAL ADVISORS, L.L.C.1.10%
Blackstone Inc.1.04%
UBS Group AG0.94%
BANK OF AMERICA CORP /DE/0.82%
Energy Income Partners, LLC0.75%

Funds

Fund% owned
Lord Abbett Short Duration Income Fund2.91%
Alerian MLP ETF2.51%
Navigator Tactical Fixed Income Fund2.27%
PIMCO Enhanced Short Maturity Active Exchange-Traded Fund2.19%
JPMorgan Ultra-Short Income ETF1.75%
VANGUARD SHORT-TERM INVESTMENT-GRADE FUND1.68%
VANGUARD INTERMEDIATE-TERM INVESTMENT-GRADE FUND1.58%
Cohen & Steers Preferred Securities & Income Fund, Inc.1.40%
Loomis Sayles Investment Grade Bond Fund1.38%
Baird Aggregate Bond Fund1.30%

OakChart. ET. Cached 15 minutes.