Energy Transfer stock has drawn renewed analyst attention amid a strong outlook for the midstream energy operator, with consensus price targets reflecting optimism about the company’s earnings growth and capital returns.
Multiple analysts have upgraded their outlooks on Energy Transfer (ET) in recent months, citing improved earnings forecasts and a robust pipeline of projects. According to aggregated analyst data, the consensus 12-month price target stands near $23.45, with projections ranging from $21 to $27, suggesting potential upside from recent trading levels around $19.66 as of early July 2026.
In May 2026, Energy Transfer raised its full-year adjusted EBITDA guidance to $18.2 billion to $18.6 billion, up from prior expectations. First-quarter adjusted EBITDA surged 20% year-over-year to $4.94 billion, and revenue reached $27.8 billion, beating Wall Street estimates by roughly 2%, according to reports from the period.
Several major investment banks have reiterated or upgraded their ratings. Raymond James analyst Justin Jenkins raised the firm’s price target to $26 from $25 in May while maintaining a Strong Buy rating. Bank of America bumped its price target from $22 to $24 in May, keeping a Buy rating. Scotiabank reiterated an Outperform rating and raised its target to $24 from the prior level. Morgan Stanley, which had raised its target to $23 from $21 in March, maintained an Equal Weight rating despite the higher price objective.
UBS reiterated its Buy rating and $24 price target, projecting full-year 2026 EBITDA of $18.49 billion. According to investment research platforms, 22 analysts now rate Energy Transfer with a consensus “Strong Buy” rating, with 19 recommending a buy, zero suggesting a sell, and 3 rating it a hold.
The company’s dividend yield, historically attractive to income investors, has remained a draw. Energy Transfer increased its quarterly cash distribution in early 2026, and the current yield stands at approximately 7.1%, according to analyst summaries.
Sources
- MarketBeat — analyst consensus price target of $23.45 updated July 13, 2026; 14 analysts covered
- Yahoo Finance — Raymond James raised price target to $26 from $25 in May 2026; Bank of America raised target to $24 from $22 in May 2026; Scotiabank reiterated Outperform rating and raised target to $24
- Investing.com — 22 analysts consensus rating of “Strong Buy” with average price target of $23.64; high estimate $27, low $21
- Seeking Alpha — Energy Transfer raised 2026 adjusted EBITDA guidance to $18.2–$18.6 billion; Q1 adjusted EBITDA rose 20% to $4.94 billion; first-quarter revenue $27.8 billion
- Perplexity — UBS reiterated Buy rating with $24 price target; consensus price target $23.45; 7.1% dividend yield
- Stock Analysis — Jefferies analyst Julien Dumoulin-Smith upgraded Energy Transfer to Buy from Hold with price target of $23 from $21
