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Research & education only — not financial advice.TENK is not a registered investment adviser; calls are impersonal, generated from SEC filings and a delayed/third-party price feed, and may be wrong or out of date. The operator and an affiliated trading operation may hold or trade the securities TENK rates — see Disclosures. Do your own research.

EDGAR® is a registered trademark of the U.S. Securities and Exchange Commission. TENK/calls is an independent service and is not affiliated with, endorsed by, or approved by the U.S. Securities and Exchange Commission.

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Home›Coverage›ET-PI

ET-PI

Energy Transfer LP

Next earnings ≈ Jul 23, 2026 · est. from filing cadence

Last earnings +5.0% on 2026-05-05

Sell
$11.47
▼ -0.09%
$11.47▲ +8.24%
over 1Y
L $10.48H $11.95
Earnings Dividend Split Congress buy Congress sellGrouped by date · hover a pin to expand
Today-0.1%
1W+0.3%
1M-0.2%
3M+0.9%
YTD+3.6%
1Y+8.2%
OverviewFinancialsValuationQualityTimelineFilings
Rating
Sell
Quality
B-
Valuation
Fair value
Filings
Watch
Sell
Conviction
Horizon
Medium (3–12mo)

Mixed signals in the latest filings.

Revenue (FY2025) $85.5B · FY2025

Energy Transfer LP shows $85.5B in FY2025 revenue (+3.5% YoY), a 5.2% net margin, and 9.0% ROE.

On these fundamentals, ET-PI screens as SELL on the SEC figures.

Is ET-PI a buy? The one-page verdict, explained →

The options angle

model · matches our verdict
Bear put spread~60d expiry
  • Long put 11.5 @ ~0.07 est
  • Short put 10.5 @ ~0.00 est
debit $7max +$93max −$7BE 11.43

SELL verdict, defined risk: profits into weakness down to the short strike; max loss is the net debit.

Open in the calculator →

Educational template, not a trade recommendation. Strikes and premiums are Black-Scholes model estimates from the last close and 30-day realized volatility — real chains, spreads and IV will differ. Options involve substantial risk.

Financials · annual, by fiscal year

Line itemFY21FY22FY23FY24FY25
Revenue$67.4B$89.9B$78.6B$82.7B$85.5B
Gross profit—————
Operating income$8.79B$7.74B$8.29B$9.14B$9.03B
Net income$5.47B$4.76B$3.94B$4.81B$4.43B
Diluted EPS—————
Net margin8.1%5.3%5.0%5.8%5.2%

10-year statements — income, cash flow, balance sheet & CSV export →

Annual figures from SEC 10-K XBRL filings. Open the filing links below for full statement detail.

Key statistics

Valuation

Enterprise value$107B
EV / EBITDA7.2
EV / Sales1.2
EV / FCF27.7
P / FCF10.3
PEG (trailing)—
Earnings yield11.2%
FCF yield9.7%

Quality & risk

ROIC (est.)6.1%
Free cash flow$3.85B
Total debt$68.3B
Net cash-$67.1B
Piotroski F-Score5/9

Capital returns

Buyback yield0.0%
Dividend yield (est.)—
Shareholder yield0.0%
Shares Δ YoY+0.3%

Computed from SEC XBRL annual figures + the current quote. EV and ROIC use long-term + current debt where filed; estimates, not investment advice.

Disclosure timeline

SEC · 8-Ks + reports
Some governance/structural items recently, but no outright red flags.
  1. 8-K Officer / director change2026-06-03
  2. 10-Q Quarterly report2026-05-07
  3. 8-K Earnings results2026-05-05
  4. 10-K Annual report2026-02-19
  5. 8-K Earnings results2026-02-17
  6. 8-K Material agreement2026-01-27
  7. 8-K Material agreement2026-01-13
  8. 8-K Reg FD disclosure2026-01-06
  9. 10-Q Quarterly report2025-11-06

Recent filings

all on EDGAR ↗
144Filing2026-06-08open ↗8-KPeriod ending 2026-06-012026-06-03open ↗4Period ending 2026-05-082026-05-11open ↗10-QPeriod ending 2026-03-312026-05-07open ↗8-KPeriod ending 2026-05-052026-05-05open ↗144Filing2026-03-13open ↗10-KPeriod ending 2025-12-312026-02-19open ↗8-KPeriod ending 2026-02-172026-02-17open ↗8-KPeriod ending 2026-01-272026-01-27open ↗424B2Filing2026-01-14open ↗8-KPeriod ending 2026-01-122026-01-13open ↗FWPFiling2026-01-12open ↗

Quality score

B-
ValueGrowthProfitHealthMom.
ValueA+
GrowthD
ProfitabilityC+
Financial healthA-
MomentumC+
  • ✓Revenue growing year-over-year
  • ✓Profitable (positive net income)
  • ✗Net margin above 10%
  • ✗Return on equity above 15%
10.5252-week12.04
Revenue
$85.5B
+3.5% YoY
Net margin
5.2%
ROE
9.0%
P/E
—

SEC fundamentals · FY 2025

'21'22'23'24'25

■ revenue · ■ net income, by fiscal year

Revenue$85.5B+3.5%
Net income$4.43B-7.9%
Gross profit$7.30B+26.3%
Operating income$9.03B-1.2%
Cash & equivalents$1.27B+307.7%
Total assets$141B+12.7%
Stockholders' equity$49.0B+6.5%
Gross: 8.5%Op.: 10.6%

Frequently asked

Is Energy Transfer LP (ET-PI) a buy?
ET-PI currently carries a Sell rating with 2/5 conviction, derived from its latest SEC filings. Mixed signals in the latest filings.
What is Energy Transfer LP's quality score?
ET-PI scores 69.37998935346496/100 (grade B-) on a SEC-grounded quality model spanning value, growth, profitability, financial health and momentum.

Sources: SEC EDGAR (CIK 0001276187, latest 10-Q filed 2026-05-07) · EODHD · as of 6/26/2026, 7:41:28 PM.

›About this recommendation — produced by TENK/calls (tenkcalls.com), Luxembourg · not investment advice

Rule-based analysis, generated automatically from SEC filing data.

Investment recommendation produced by TENK/calls (tenkcalls.com), Luxembourg. Completed Jun 26, 2026, 3:41 PM ET. Ratings & methodology: definitions · All recommendations to date: track record · Conflicts: disclosures. Not investment advice.

Research and education only — not financial advice. TENKis not a registered investment adviser or broker-dealer and gives no personalized advice. Every call is impersonal — identical for all users, generated on a schedule from SEC filings plus a delayed/third-party price feed — may be wrong or out of date, and is not a recommendation to buy or sell any security. The operator and an affiliated trading operation may hold or trade the securities TENK rates; see Disclosures. Past performance does not guarantee future results. Do your own research.

Insider activity

Form 4 · SEC
2026-05-08
WARREN KELCY L
Director
Award1.11M @ $19.83$22.0M
2026-01-02
Ramsey Matthew S.
Director
Award7.42K
2026-01-02
Grimm Michael K
Director
Award7.42K
2026-01-02
Perry James Richard
Director
Award7.42K
2026-01-02
MCREYNOLDS JOHN W
Director
Award7.42K
2026-01-02
Anderson Steven R.
Director
Award7.42K
2025-12-29
Grimm Michael K
Director
Gift10.00
2025-12-29
Perry James Richard
Director
Gift10.00
2025-12-29
Anderson Steven R.
Director
Gift10.00
2025-12-05
McIlwain Gregory G.
EVP - Operations
Tax46.3K @ $16.60$768K
2025-12-05
Long Thomas E
Co-CEO
Tax331K @ $16.60$5.49M
2025-12-05
Long Thomas E
Co-CEO
Award704K

Dividends

Quarterly
Yield (TTM)
7.4%
Annual / share
$0.84
Last ex-date
2026-05-04
Last amount
$0.21
ex 2026-05-04paid 2026-05-15$0.21
ex 2026-02-04paid 2026-02-17$0.21
ex 2025-11-04paid 2025-11-14$0.21
ex 2025-08-04paid 2025-08-14$0.21
ex 2025-05-02paid 2025-05-15$0.21
ex 2025-02-04paid 2025-02-14$0.21

Source: EODHD. Yield = trailing-12-month dividends ÷ price.

Earnings history

beat/miss · move
2026-05-05—▼ -0.71%8-K ↗
2026-02-17—▲ +0.68%8-K ↗
2025-11-05—▼ -0.17%8-K ↗
2025-08-06—▼ -0.76%8-K ↗
2025-05-06—▼ -0.61%8-K ↗
2025-02-11—▲ +0.25%8-K ↗

Dates from 8-K (Item 2.02); beat/miss = reported EPS vs consensus (Finnhub, recent quarters); move = prior close → close on/after.

Recent news

market news →
Five Energy Stocks Riding Texas's Data Center Power BoomBullish
finance.yahoo.com· 2026-07-05
Energy Transfer LP, Sunoco LP, SunocoCorp LLC and USA Compression Partners, LP Announce Redomiciliation to TexasBullish
finance.yahoo.com· 2026-07-02
Energy Transfer LP (ET) Stock Moves 1.47%: What You Should KnowBullish
finance.yahoo.com· 2026-07-02
Energy Transfer (ET) Expands Nederland Terminal With New Ethane And LPG CapacityBullish
finance.yahoo.com· 2026-07-02
Energy Transfer (ET) Stock Still Looks Below Fair Value After Its 166% RunBullish
finance.yahoo.com· 2026-07-01
Is Energy Transfer LP (ET) One of the Best Energy Dividend Stocks to Buy Now?Bullish
finance.yahoo.com· 2026-07-01

Vs tracked universe

compare →

1195 tracked peers · median

TENK Score69 vs 67
Revenue growth3.5% vs 7.5%
Net margin5.2% vs 10.0%
Return on equity9.0% vs 12.0%
P/E— vs 26.2

News sentiment

EODHD · 32d
Bullish
+0.18
vs typical · 49 articles
↑ improving

Recent news tone vs the market's typical (which skews positive). A soft signal, not a recommendation.