Energy Transfer stock: Partnership raises 2026 EBITDA outlook after Q3
Published on 11/04/2026 at 17:06 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSEnergy Transfer raises its outlook
- Energy Transfer lifted its 2026 adjusted EBITDA outlook after stronger third-quarter operating performance.
- Higher transportation and NGL volumes supported growth across the partnership's infrastructure portfolio.
- The partnership plans substantial growth investment in 2026 and 2027 as new projects advance.
Energy Transfer raised its full-year adjusted EBITDA outlook after reporting stronger third-quarter results on November 3, 2026. The partnership said growth in transportation volumes, NGL exports and fractionation supported performance across its US energy infrastructure network.
The announcement came in an Energy Transfer press release covering the quarter ended September 30, 2026. Net income attributable to partners rose to USD 1.21 billion from USD 1.02 billion a year earlier, while basic net income per common unit increased to USD 0.33 from USD 0.28.
Volumes strengthen core operations
Adjusted EBITDA reached USD 5.03 billion, up 31 percent from USD 3.84 billion in the prior-year quarter. Adjusted distributable cash flow attributable to partners increased 33 percent to USD 2.52 billion from USD 1.90 billion.
Operational indicators also improved. Intrastate transportation volumes rose 14 percent to a partnership record, midstream gathered volumes increased 6 percent to another record, NGL transportation volumes gained 6 percent and NGL exports advanced 9 percent. The NGL and refined-products segment posted adjusted EBITDA of USD 1.224 billion, compared with USD 1.054 billion a year earlier.
Guidance leaves room for investment
Energy Transfer now expects 2026 adjusted EBITDA of USD 19.7 billion to USD 19.9 billion, compared with its previous range of USD 18.8 billion to USD 19.1 billion. The partnership expects growth capital spending of USD 5.4 billion to USD 5.6 billion in 2026 and approximately USD 7 billion in 2027.
The company also highlighted new infrastructure projects, including the Hugh Brinson Pipeline, the Mustang Draw II processing plant and the South Mississippi Pipeline Project. The Vaquero Midstream acquisition, announced in October for approximately USD 2.6 billion, remains subject to regulatory approval and customary closing conditions.
Energy Transfer declared a quarterly cash distribution of USD 0.3425 per common unit in October, representing the partnership's twentieth consecutive increase. Investors can follow the broader US market through current market reports.
Energy Transfer LP at a glance
- Company: Energy Transfer LP
- ISIN: US29273V1008
- Ticker: ET
- Exchange: TXSE
- Reporting period: Quarter ended September 30, 2026
- Adjusted EBITDA guidance: USD 19.7 billion to USD 19.9 billion for 2026
- Quarterly distribution: USD 0.3425 per common unit
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