Energy Transfer (ET) ended the trading day in red after six consecutive sessions of gain, with the stock closing 0.23% lower at $17.46 on Thursday.
The Dallas-based energy assets portfolio operator had been on a winning streak after announcing its 2026 outlook.
The company had said on Tuesday, January 6, that it expects to invest $5B-$5.5B in growth capital during 2026, primarily on projects enhancing its natural gas network.
The partnership had said it expects to generate $17.3B-$17.7B of consolidated adjusted EBITDA in 2026, and several significant new projects are set to ramp up or come online.
“Many ET unit holders do not like the increased CapEx,” noted Seeking Alpha analyst Fishtown Capital. “For me, as long as they remain primarily focused on natural gas assets in friendly jurisdictions with ~6x build multiples without meaningfully increasing the debt, I say keep building as long as you can find those projects!”
The stock added 7.46% over the course of the last six trading days after the guidance.
A notable gain was logged on Thursday, January 8, when the stock closed 2.24% higher at $16.89. Furthermore, the stock advanced 1.66% on Wednesday, January 7, to finish at $16.52.
Recently, Energy Transfer priced a $3B bond offering, issuing $1B each of senior notes due in 2031, 2036, and 2056, with interest rates of 4.55%, 5.35%, and 6.30%, and offering prices of 99.830%, 99.933%, and 99.842% of face value, respectively.
Net proceeds of ~$2.97B are intended to be used to refinance existing indebtedness and for general partnership purposes.
The Wall Street analysts and SA authors are bullish on the stock.
“Energy Transfer’s outlook for FY 2026 is impressive considering that the company expects upwards of 7% adjusted EBITDA growth on a year-over-year basis,” said SA contributor The Asian Investor.
“I like Energy Transfer because of these supply deals, but also because of the outlook specifically for accelerated computing, which could lead to many more supply deals with other hyperscalers,” added the author.
“Given ET’s low valuation based off of EBITDA, I believe the MLP is a very strong choice for investors at a current price of $17 per unit,” said The Asian Investor.
Meanwhile, Seeking Alpha’s Quant Rating system sees ET as Hold.
Quant grades the stock as B for Valuation, B- for Growth, A for Profitability, and D+ for Momentum and Revisions.