Energy Transfer lifts quarterly payout

Energy Transfer (ET) LP has increased its quarterly cash distribution to $0.3425 per common unit for the third quarter ended September 30, 2026. The new rate equates to $1.37 on an annualized basis and continues the partnership’s pattern of regular payout growth.

The payment is scheduled for November 19, 2026, and will be made to unitholders of record at the close of business on November 6, 2026. At the declared level, the annualized distribution corresponds to a dividend yield of 6.8%.

This latest adjustment marks Energy Transfer’s twentieth consecutive quarterly increase in its cash distribution. The distribution is more than 3% higher than the payout in the third quarter of 2025, underscoring a multi‑year trend of incremental growth.

Energy Transfer’s current dividend payout ratio stands at 87.2%, indicating that recent earnings have supported the higher distribution. Analyst forecasts point to an expected future payout ratio of about 80.5%, based on projected earnings of $1.69 per share next year.

In its most recent reported quarter, Energy Transfer posted earnings per share of $0.59, exceeding the consensus estimate of $0.38. Revenue reached $34.33 billion, above analyst expectations of $27.71 billion, and was up 78.4% compared with the same quarter a year earlier.

The partnership generated a net margin of 4.87% and a return on equity of 11.55% in that period. On average, research analysts forecast that Energy Transfer will post earnings per share of 1.73 for the current year.

Shares of Energy Transfer recently opened at $20.04, giving the partnership a market capitalization of $69.00 billion. The units trade at a price‑to‑earnings ratio of 13.63 and have a beta of 0.60.

The units have traded between a twelve‑month low of $16.18 and a twelve‑month high of $21.84. The 50‑day moving average stands at $20.83, while the 200‑day moving average is $20.05.

On the balance sheet, Energy Transfer reports a current ratio of 1.16 and a quick ratio of 0.94, alongside a debt‑to‑equity ratio of 1.45. These figures outline the partnership’s near‑term liquidity and leverage profile as it maintains its distribution policy.

Insider participation has included a purchase by Director James Perry, who acquired 12,359 units on August 7 at an average cost of $20.23 per unit, for a total value of $250,022.57. Following this transaction, he directly owns 208,046 units, representing a 6.32% increase in his position.

Institutional investors have also adjusted their holdings. Summit Securities Group LLC increased its stake by 179.0% in the first quarter to 162,100 units, while North Star Investment Management Corp. boosted its position by 39.0% to 224,439 units over the same period.

Sanctuary Advisors LLC raised its holdings by 15.8% to 1,888,661 units, and new positions were initiated by Mizuho Markets Americas LLC and Independent Financial Group LLC. Overall, institutional investors and hedge funds own 38.22% of Energy Transfer’s outstanding units.

Energy Transfer owns and operates one of the largest and most diversified energy infrastructure portfolios in the United States, with approximately 140,000 miles of pipeline and associated assets spanning 44 states. Its network supports the movement of natural gas (XNGUSD:N), natural gas liquids, crude oil and refined products.

The partnership also holds general partner interests and common units in affiliated entities, including approximately 28 million common units of Sunoco LP and about 46 million common units of USA Compression Partners, LP. These positions add to its exposure across the midstream energy value chain.