Energy Transfer (ET) Price Target Raised Despite Mixed Q1

Energy Transfer LP (NYSE:ET) is included among the Top 12 Undervalued Dividend Stocks to Buy Now.

Energy Transfer (ET) Price Target Raised Despite Mixed Q1

Energy Transfer LP is one of the largest and most diversified midstream energy companies in North America, with a strategic footprint in all of the major US production basins.

On May 13, BofA bumped up its price target on Energy Transfer LP from $22 to $24, while maintaining a ‘Buy’ rating on the shares. The firm cited improving NGL and gas upside for the target boost, which represents an upside of over 19% from the current price levels.

The move comes despite Energy Transfer LP reporting mixed results for its Q1 2026 on May 5. The company’s adjusted profit of $0.35 per share fell behind estimates by $0.02, but its revenue grew by over 32% YoY to $27.8 billion and exceeded expectations by $470 million. Moreover, the midstream operator’s adjusted EBITDA for the quarter came in at $4.94 billion, compared to $4.10 billion in the same period last year.

Energy Transfer LP also raised its guidance for FY 2026. The company now expects its adjusted EBITDA for the year to range between approximately $18.2 billion and $18.6 billion, up from its previous range of $17.45 billion and $17.85 billion. Moreover, it expects to invest $5.5 billion to $5.9 billion in growth capital for the current year.

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