Energy Transfer LP
boothcheck covers Energy Transfer LP (ET) but does not put one priced-in number on it: here the defensible answer is the evidence rather than a point estimate. boothcheck publishes no house fair value, target price, or buy/sell rating. Narrative composed July 26, 2026.
• Energy Transfer is a toll collector on American hydrocarbons, and its largest revenue line is crude oil transportation and services at roughly 31% of the total, with its investment in Sunoco LP at about 29% and NGL and refined products at about 25%. • The specific risk is the balance sheet: net borrowings run 6.85 times operating profit, and the partnership states plainly that ⟦"Cash distributions are not guaranteed and may fluctuate with our performance and other external factors."⟧ • Six vol
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1,274 institutional managers reported holding ET in 13F filings for the quarter ended 2026-03-31. Together they hold about 29% of the company; the top 10 hold 14%. 108 opened new positions that quarter. Held by Morgan Stanley, Goldman Sachs, Invesco, among others. On the short side, 32.2M shares were sold short as of the 2026-06-15 count, about 0.9% of shares outstanding (3.5 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
Open-market insider buys at ET over the trailing three years: 2023: 13 buys totaling $68.60M; 2024: 3 buys totaling $47.67M; 2025: 4 buys totaling $68.44M. 13 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
ET's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2023-08-04 | -3.3% | +5.6% |
| 2023-11-03 | +3.7% | +2.1% |
| 2024-02-17 | +3.3% | +8.4% |
| 2024-05-10 | +0.6% | +1.9% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
ET's latest 8-K filings: 2026-08-04 (items 2.02, 9.01); 2026-07-21 (items 1.01, 2.03, 9.01); 2026-07-08 (items 1.01, 8.01, 9.01); 2026-06-03 (items 5.02); 2026-05-05 (items 2.02, 9.01).
Item codes are the SEC's own classification of what each report discloses. Dates link to the filing on EDGAR. Nothing here is investment advice.
Model solve date: 2026-Q2
Narrative composed: July 26, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.