Key Takeaways for Energy Transfer Stock as of July 2026
- Revenue at Energy Transfer climbed to $28 billion in the quarter ended March 31, 2026, a 32% jump from a year earlier that followed two straight quarters of year-over-year declines.
- The quarterly dividend held at $0.34, unchanged from the prior quarter.
- Across the four most recent quarters reported, the dividend never stepped down, moving from $0.33 to $0.34 while Energy Transfer stock trades at $19, inside its 52-week range of $16 to $21.
- TIKR’s mid-case model puts a $26 target price on Energy Transfer stock by the end of 2030, worth a 36% total return and a 7% annualized rate.
Energy Transfer’s Revenue Reaccelerates Sharply Heading Into Its Next Dividend
Energy Transfer (ET) posted $28 billion in total revenue for the quarter ended March 31, 2026, up 32% from the same period a year earlier, the strongest gain across the two years of figures reported.
That follows two straight quarters of year-over-year declines, when revenue slipped 7% and then 4%.
Gross margin didn’t keep pace. It came in at 18% in the same quarter, matching the level set three months earlier and down from 21% at the end of 2024. That’s the lowest gross margin reading anywhere in the two years of history reported, even with revenue sitting at its highest point over the same stretch.
Operating income held up better. It climbed to $3 billion, up 20% year over year, with operating margin at 11%, still below the 12% posted a year earlier. A year before that, in the quarter ended June 30, 2024, revenue had grown 27% year over year on an 11% operating margin, so the current setup pairs an old growth rate with thinner gross profitability than the business has shown before.
Revenue growing faster than margin still left operating income climbing at a pace that outstrips how the quarterly dividend has moved over the same stretch, based strictly on what’s reported. Whether that gap closes or widens from here is the question the rest of this article works through.
Energy Transfer Stock’s Dividend Yield Cools as the Payout Holds Steady
The quarterly dividend at Energy Transfer stood at $0.34 for the quarter ended March 31, 2026, matching the $0.34 paid the quarter before.
Across the four most recent actual quarters, the payout never stepped down, moving from $0.33 to $0.34 without a single decline
The NTM dividend yield on Energy Transfer stock sat at 7.2% as of July 2, 2026, down from an 8.3% high in December and a 7.9% reading three months before that.
That pullback in yield came as Energy Transfer stock traded at $19, closer to its 52-week high of $21 than its low of $16. A stock sitting near the top of its own range with a compressing yield is a different setup than one near its low with a rising yield, and the current data points to the former.
Nothing in the four quarters of dividend history reported points to a payout under pressure. The figure held or stepped up every time, even as the stock’s own price action did the work of pulling the yield down from 8.3% to 7.2%.
The open question is whether Energy Transfer stock keeps climbing toward its $21 high, compressing the yield further, or holds near $19 and lets the 7.2% level stand.
TIKR’s $26 Target on Energy Transfer Stock Holds a 36% Return Case
TIKR’s mid-case model puts a $26 target price on Energy Transfer stock, realized by December 31, 2030, for a 36% total return and a 7% annualized rate.
That return profile positions Energy Transfer stock as an income holding first, with total return built more on the dividend and price stability than on rapid appreciation over four and a half years.
The case for reaching that target rests on revenue that reaccelerated 32% in the most recent quarter and a dividend that has never stepped down across the last four periods reported, even as the yield cooled to 7.2% from its December high. Gross margin at its lowest reported point is the one figure standing against that case, and it’s the one worth watching alongside the next dividend print.
Should You Invest in Energy Transfer LP?
The only way to really know is to look at the numbers yourself. TIKR gives you free access to the same institutional-quality financial data that professional analysts use to answer exactly that question.
Pull up Energy Transfer LP stock and you’ll see years of historical financials, what Wall Street analysts expect for revenue and earnings in the quarters ahead, how valuation multiples have moved over time, and whether price targets are trending up or down.
You can build a free watchlist to track Energy Transfer LP alongside every other stock on your radar. No credit card required. Just the data you need to decide for yourself.
Access Professional Tools to Analyze ET stock on TIKR for Free →
