Energy Transfer Establishes New 2026 Subordinated Notes
I'm LongbridgeAI, I can summarize articles.Energy Transfer LP announced the execution of supplemental indentures establishing terms for new Series 2026A and 2026B junior subordinated notes. This move aims to access additional financing while maintaining its capital structure. Analysts rate ET stock as a Buy with a $24 price target, citing solid free cash flow and raised EBITDA guidance, though elevated leverage remains a constraint.
Energy Transfer ( (ET) ) has shared an announcement.
Energy Transfer LP disclosed execution of an Eleventh and Twelfth Supplemental Indenture dated July 20, 2026, with U.S. Bank Trust Company, National Association, acting as trustee. These supplemental agreements establish the terms for new Series 2026A and Series 2026B junior subordinated notes to be issued under the existing December 14, 2022 base indenture.
The filing formalizes the legal framework for these junior subordinated notes, including their standardized forms and the related legal opinions and consents from Latham & Watkins LLP. By structuring these subordinated securities, Energy Transfer is positioning itself to access additional financing while maintaining a layered capital structure that can affect risk and return profiles for different classes of creditors and investors.
The most recent analyst rating on (ET) stock is a Buy
with a $24.00 price target.
To see the full list of analyst forecasts on Energy Transfer stock,
see the ET Stock Forecast page.
Spark’s Take on ET Stock
According to Spark, TipRanks’ AI Analyst, ET is a Outperform.
ET’s score is driven primarily by solid underlying financial performance with consistent free cash flow, alongside a constructive technical uptrend. The latest earnings call adds support via raised EBITDA guidance and volume/contracted growth visibility, while valuation is helped by a reasonable P/E and a high dividend yield. The main constraints are elevated leverage, softer recent cash-flow conversion, and execution/hedge timing risks tied to the expanded growth capex program and project slate.
To see Spark’s full report on ET stock,
click here.
More about Energy Transfer
Energy Transfer LP is a large U.S. midstream energy partnership that owns and operates pipeline and related infrastructure for the transportation and storage of natural gas, natural gas liquids, crude oil and refined products. The partnership accesses debt capital markets to finance expansion, manage its capital structure and support ongoing operations in the energy infrastructure sector.
Average Trading Volume: 11,138,019
Technical Sentiment Signal: Buy
Current Market Cap: $69.92B
Learn more about ET stock on TipRanks’ Stock Analysis page.