Energy Transfer (ET) Expands Pipeline Power with New Deals

Energy Transfer LP (NYSE:ET) is one of the best cheap stocks to buy for 2026. On January 21, Goldman Sachs increased its price target for Energy Transfer LP (NYSE:ET) to $19.00 from $18.50 and kept a Neutral rating on the stock. The firm attributed the adjustment mainly to the upcoming USAC/J-W Power acquisition in the first quarter of 2026. The other key factor is minor tweaks to assumptions about re-contracting in natural gas liquids (NGLs) and crude oil segments, which led to a roughly 1% rise in longer-term estimates.

For Q4 2025, Goldman Sachs lowered its EBITDA forecast to $4.16 billion, down 1% from its prior estimate. The firm cited impacts from reduced commodity prices and weather-related slowdowns in NGL exports. This figure is 2% below the general consensus of $4.23 billion. And for the full year 2025, Goldman Sachs projected EBITDA of $15.96 billion, matching the company’s earlier indication that results would fall just short of its guided range of $16.1 billion to $16.5 billion. For 2026, the firm estimated EBITDA at $17.58 billion, or an adjusted $17.37 billion when excluding J-W Power and Hugh Brinson items as per management’s approach. Again, this projection aligns closely with Energy Transfer’s recent guidance of $17.3 billion to $17.7 billion.

The bank said it expects contributions from the PKI acquisition by Susser Holdings Corporation, Waha spread capture, and underlying gas volume growth. Nevertheless, it noted that these positive effects are likely to be partially offset by lower Midstream margin in the fourth quarter.

Energy Transfer LP (NYSE:ET) is a midstream energy company that owns and operates one of the largest portfolios of natural gas, crude oil, and NGL pipelines in the United States. Its assets include interstate and intrastate natural gas pipelines, storage facilities, fractionation plants, and crude oil terminals.

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Disclosure: None. This article is originally published at Insider Monkey.