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

With a 5-year dividend growth rate of 11.85%, Energy Transfer LP (NYSE:ET) is included among the 10 Best Dividend Growth Stocks to Buy and Hold for 3 Years.

On May 14, Barclays raised its price recommendation on Energy Transfer LP (NYSE:ET) to $23 from $22. It reiterated an Overweight rating on the stock. The firm said it sees an “increasingly constructive backdrop” for U.S. crude production. In a research note, the analyst told investors that Energy Transfer “remains undervalued given fundamental tailwinds on multiple fronts.”

During Energy Transfer’s Q1 2026 earnings call, Co-CEO Thomas Long said the company generated nearly $4.9 billion in adjusted EBITDA for the quarter. He also noted that distributable cash flow attributable to partners, as adjusted, reached about $2.7 billion. Long added that the company had increased its 2026 adjusted EBITDA guidance and now expected it to range between roughly $18.2 billion and $18.6 billion. He also said Energy Transfer’s 2026 organic growth capital guidance was projected to come in between approximately $5.5 billion and $5.9 billion.

According to Long, the quarter benefited from strong operating trends across several parts of the business. He pointed to record volumes in midstream gathering, NGL fractionation, NGL exports, and crude oil transportation.

Energy Transfer LP (NYSE:ET) owns and operates a diversified portfolio of energy assets across the United States. Its network includes more than 140,000 miles of pipelines and related energy infrastructure. The company’s system spans 44 states and covers all major U.S. production basins.

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