Barclays Raises Energy Transfer (ET) Price Target, Says Stock Remains Undervalued

On May 14, Barclays raised its terms proposal connected Energy Transfer LP (NYSE:ET) to $23 from $22. It reiterated an Overweight standing connected the stock. The steadfast said it sees an “increasingly constructive backdrop” for U.S. crude production. In a probe note, the expert told investors that Energy Transfer “remains undervalued fixed cardinal tailwinds connected aggregate fronts.”

During Energy Transfer’s Q1 2026 net call, Co-CEO Thomas Long said the institution generated astir $4.9 cardinal successful adjusted EBITDA for the quarter. He besides noted that distributable currency travel attributable to partners, arsenic adjusted, reached astir $2.7 billion. Long added that the institution had accrued its 2026 adjusted EBITDA guidance and present expected it to scope betwixt astir $18.2 cardinal and $18.6 billion. He besides said Energy Transfer’s 2026 integrated maturation superior guidance was projected to travel successful betwixt astir $5.5 cardinal and $5.9 billion.

According to Long, the 4th benefited from beardown operating trends crossed respective parts of the business. He pointed to grounds volumes successful midstream gathering, NGL fractionation, NGL exports, and crude lipid transportation.

Energy Transfer LP (NYSE:ET) owns and operates a diversified portfolio of vigor assets crossed the United States. Its web includes much than 140,000 miles of pipelines and related vigor infrastructure. The company’s strategy spans 44 states and covers each large U.S. accumulation basins.

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