Energy Transfer LP (ET) Gains Momentum with Analyst Upgrade

Energy Transfer LP Unit (NYSE:ET) is one of the best oil stocks to buy now amid the US-Iran Conflict. On May 12, analysts at Scotiabank reiterated an Outperform rating on Energy Transfer LP Unit (NYSE:ET) and raised the price target to $24 from $22.

Photo by Zbynek Burival on Unsplash

The bullish stance and price target hike are in response to first-quarter reports that showed midstream names’ capacity and their ability to capture outsized earnings during the period of turbulence. The company delivered net income attributable to shareholders of $1.25 billion with net income per common unit of $0.35. Adjusted EBITDA increased 20% to $4.94 billion.

Energy Transfer LP Unit’s edge as a midstream energy company stems from its diversified asset portfolio. Its multiple segments generated high-quality, balanced earnings with no single business accounting for more than one-third of adjusted EBITDA. The company expects adjusted EBITDA for the full year of 2026 to range between $18.2 billion and $18.6 billion, up from the previous range of $17.45 billion to $17.85 billion.

Energy Transfer LP (NYSE:ET) operates as a “midstream” energy company, meaning it does not drill for oil or refine it for consumer use. Instead, it serves as the logistical backbone of the energy industry, transporting, storing, and terminalling crude oil, natural gas, and natural gas liquids (NGLs) across the United States.

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