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 LP (NYSE:ET) 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 (NYSE:ET) 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 (NYSE:ET) 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 (NYSE:ET) 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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