Energy Transfer LP (ET) P/E Ratio History
Premium ValuationTrading at 13.9x vs 5Y avg 11.1x · 75th percentile · Premium to historical baseline · Data 2006–2026
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P/E Ratio Analysis
As of June 21, 2026, Energy Transfer LP (ET) trades at a price-to-earnings ratio of 13.9x, with a stock price of $18.75 and trailing twelve-month earnings per share of $1.61.
The current P/E is 25% above its 5-year average of 11.1x. Over the past five years, ET's P/E has ranged from a low of 4.3x to a high of 15.3x, placing the current valuation at the 75th percentile of its historical range.
Compared to the Energy sector median P/E of 15.5x, ET is roughly in line with its sector peers. The sector includes 173 companies with P/E ratios ranging from 1.6x to 166.4x.
Relative to the broader market, ET trades at a notable discount to the S&P 500 median P/E of 24.4x. Investors should consider the company's growth prospects, competitive position, and earnings quality when evaluating whether the current valuation is justified.
For a comprehensive intrinsic value estimate using discounted cash flow analysis, see our ET DCF Valuation Calculator →
Note: P/E ratio is just one valuation metric. It does not account for balance sheet strength, cash flow quality, or growth sustainability. Always conduct comprehensive due diligence before making investment decisions.
ET Cross-Benchmark Valuation
How does the current P/E compare to sector peers and the broader market?
ET P/E vs Peers
Natural Gas Pipelines and Storage peers sorted by market cap
| Company | Market Cap | P/E Ratio | PEG Ratio | EPS Growth (1Y) |
|---|---|---|---|---|
| $79B | 13.8 | 1.49 | -1% | |
| $15B | 12.9 | - | +127%Best | |
| $17B | 14.3 | 0.70 | -25% | |
| $58B | 11.8Lowest | - | +14% | |
| $70B | 23.1 | 0.24Best | +17% | |
| $54B | 15.7 | 0.51 | +5% | |
| $89B | 34.2 | 0.52 | +18% | |
| $70B | 29.2 | - | -26% | |
| $119B | 23.7 | 1.40 | +38% | |
| $12B | 76.7 | 4.87 | -66% |
Lower P/E can signal a discount or weaker growth expectations; PEG adds growth context.
ET Historical P/E Data (2006–2026)
Quarterly P/E ratios calculated from closing price and TTM EPS
| Quarter | Period End | Price | TTM EPS | P/E Ratio | vs Avg |
|---|---|---|---|---|---|
| FY2026 Q1 | - | $19.30 | $1.34 | 14.4x | -45% |
| FY2025 Q4 | Dec 31 2025 | $16.49 | $1.35 | 12.2x | -54% |
| FY2025 Q3 | - | $17.16 | $1.24 | 13.8x | -47% |
| FY2025 Q2 | Jun 30 2025 | $18.13 | $1.29 | 14.1x | -47% |
| FY2025 Q1 | Mar 31 2025 | $18.59 | $1.32 | 14.1x | -46% |
| FY2024 Q4 | - | $19.59 | $1.28 | 15.3x | -42% |
| FY2024 Q3 | Sep 30 2024 | $16.05 | $1.36 | 11.8x | -55% |
| FY2024 Q2 | Jun 30 2024 | $16.22 | $1.19 | 13.6x | -48% |
| FY2024 Q1 | Mar 31 2024 | $15.73 | $1.09 | 14.4x | -45% |
| FY2023 Q4 | Dec 31 2023 | $13.80 | $1.09 | 12.7x | -52% |
| FY2023 Q3 | Sep 30 2023 | $14.03 | $1.06 | 13.2x | -50% |
| FY2023 Q2 | Jun 30 2023 | $12.70 | $1.20 | 10.6x | -60% |
| FY2023 Q1 | Mar 31 2023 | $12.47 | $1.34 | 9.3x | -65% |
| FY2022 Q4 | Dec 31 2022 | $11.87 | $1.39 | 8.5x | -68% |
| FY2022 Q3 | Sep 30 2022 | $11.03 | $1.34 | 8.2x | -69% |
| FY2022 Q2 | - | $9.98 | $1.25 | 8.0x | -70% |
| FY2022 Q1 | - | $11.19 | $1.06 | 10.6x | -60% |
| FY2021 Q4 | Dec 31 2021 | $8.23 | $1.90 | 4.3x | -84% |
| FY2021 Q3 | - | $9.58 | $1.80 | 5.3x | -80% |
| FY2021 Q2 | Jun 30 2021 | $10.63 | $1.31 | 8.1x | -69% |
| FY2021 Q1 | Mar 31 2021 | $7.68 | $1.24 | 6.2x | -76% |
| FY2020 Q2 | - | $7.12 | $0.52 | 13.7x | -48% |
| FY2020 Q1 | - | $4.60 | $0.72 | 6.4x | -76% |
| FY2019 Q4 | - | $12.83 | $1.35 | 9.5x | -64% |
| FY2019 Q3 | Sep 30 2019 | $13.08 | $1.23 | 10.6x | -60% |
| FY2019 Q2 | Jun 30 2019 | $14.08 | $1.22 | 11.5x | -56% |
| FY2019 Q1 | Mar 31 2019 | $15.37 | $1.19 | 12.9x | -51% |
| FY2018 Q4 | Dec 31 2018 | $13.21 | $1.18 | 11.2x | -57% |
| FY2018 Q3 | Sep 30 2018 | $17.43 | $1.13 | 15.4x | -41% |
| FY2018 Q2 | Jun 30 2018 | $17.25 | $1.02 | 16.9x | -36% |
| FY2018 Q1 | Mar 31 2018 | $14.21 | $0.90 | 15.8x | -40% |
| FY2017 Q4 | Dec 31 2017 | $17.26 | $0.81 | 21.3x | -19% |
| FY2017 Q3 | Sep 30 2017 | $17.38 | $0.81 | 21.5x | -18% |
| FY2017 Q2 | Jun 30 2017 | $17.96 | $0.79 | 22.7x | -14% |
| FY2017 Q1 | Mar 31 2017 | $19.73 | $0.82 | 24.1x | -9% |
| FY2016 Q4 | Dec 31 2016 | $19.31 | $0.91 | 21.2x | -19% |
| FY2016 Q3 | Sep 30 2016 | $16.79 | $1.00 | 16.8x | -36% |
| FY2016 Q2 | - | $14.37 | $1.09 | 13.2x | -50% |
| FY2016 Q1 | - | $7.13 | $1.16 | 6.1x | -77% |
| FY2015 Q4 | - | $13.74 | $1.12 | 12.3x | -53% |
| FY2015 Q3 | Sep 30 2015 | $20.81 | $0.93 | 22.4x | -15% |
| FY2015 Q2 | - | $32.09 | $0.82 | 39.1x | +49% |
| FY2015 Q1 | - | $31.68 | $0.69 | 45.9x | +75% |
| FY2014 Q4 | Dec 31 2014 | $28.69 | $0.58 | 49.5x | +88% |
| FY2014 Q3 | - | $30.85 | $0.32 | 96.4x | +267% |
| FY2014 Q2 | Jun 30 2014 | $29.47 | $0.27 | 109.1x | +315% |
| FY2014 Q1 | Mar 31 2014 | $23.38 | $0.23 | 101.7x | +287% |
| FY2013 Q4 | - | $20.43 | $0.16 | 127.7x | +386% |
| FY2013 Q3 | Sep 30 2013 | $16.45 | $0.35 | 46.7x | +77% |
| FY2013 Q2 | Jun 30 2013 | $14.96 | $0.27 | 56.5x | +115% |
| FY2013 Q1 | Mar 31 2013 | $14.62 | $0.20 | 72.2x | +175% |
| FY2012 Q4 | Dec 31 2012 | $11.37 | $0.30 | 37.6x | +43% |
| FY2012 Q3 | Sep 30 2012 | $11.30 | $0.36 | 31.7x | +21% |
| FY2012 Q2 | Jun 30 2012 | $10.26 | $0.40 | 25.6x | -3% |
| FY2012 Q1 | Mar 31 2012 | $10.07 | $0.43 | 23.5x | -11% |
| FY2011 Q4 | Dec 31 2011 | $10.15 | $0.35 | 29.1x | +11% |
| FY2011 Q3 | Sep 30 2011 | $8.70 | $0.34 | 25.8x | -2% |
| FY2011 Q2 | - | $11.24 | $0.24 | 46.2x | +76% |
| FY2011 Q1 | - | $11.25 | $0.19 | 59.2x | +125% |
| FY2010 Q4 | Dec 31 2010 | $9.77 | $0.22 | 44.4x | +69% |
| FY2010 Q3 | - | $9.28 | $0.29 | 31.5x | +20% |
| FY2010 Q2 | Jun 30 2010 | $8.44 | $0.36 | 23.2x | -12% |
| FY2010 Q1 | Mar 31 2010 | $8.44 | $0.46 | 18.2x | -31% |
| FY2009 Q4 | - | $7.65 | $0.50 | 15.2x | -42% |
| FY2009 Q3 | Sep 30 2009 | $7.00 | $0.37 | 19.0x | -28% |
| FY2009 Q2 | - | $6.34 | $0.44 | 14.6x | -45% |
| FY2009 Q1 | - | $5.28 | $0.45 | 11.9x | -55% |
| FY2008 Q4 | Dec 31 2008 | $4.05 | $0.42 | 9.8x | -63% |
| FY2008 Q3 | - | $5.44 | $0.45 | 12.2x | -54% |
| FY2008 Q2 | Jun 30 2008 | $7.25 | $0.38 | 19.1x | -27% |
| FY2008 Q1 | Mar 31 2008 | $7.81 | $0.35 | 22.3x | -15% |
| FY2007 Q4 | Nov 30 2007 | $8.63 | $0.31 | 27.8x | +6% |
| FY2007 Q3 | Aug 31 2007 | $9.19 | $0.30 | 30.4x | +16% |
| FY2007 Q2 | - | $10.17 | $0.25 | 40.7x | +55% |
| FY2007 Q1 | Feb 28 2007 | $8.43 | $0.23 | 37.1x | +41% |
| FY2006 Q4 | - | $7.26 | $0.17 | 42.2x | +60% |
| FY2006 Q3 | - | $6.78 | $0.19 | 34.8x | +32% |
| FY2006 Q2 | May 31 2006 | $6.68 | $0.17 | 39.3x | +49% |
Average P/E for displayed period: 26.3x
Full Stock Analysis
Deep dive into ET consensus models and risk factors.
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Historical Returns
20+ years return with dividends reinvested.
DCA Calculator
See how regular investing compounds over time.
Peer Comparison
Compare growth, multiples, and margins vs sector.
ET — Frequently Asked Questions
Quick answers to the most common questions about buying ET stock.
What is ET's P/E ratio?
Energy Transfer LP (ET) trailing twelve-month P/E ratio is 13.9x, based on TTM diluted EPS of $1.61. The 5-year average P/E is 11.1x and the historical range spans 4.3x to 15.3x.
Is ET stock overvalued or undervalued?
ET trades at 13.9x P/E, above its 5-year average of 11.1x. The 75th percentile ranking within the 4.3x–15.3x historical range indicates a premium to historical valuation.
Is ET stock expensive?
Yes, ET is expensive relative to its own history. The current P/E of 13.9x is above the 5-year average of 11.1x. The stock sits at the 75th percentile of its 5-year valuation range.
What is ET's historical P/E range?
Over the past 5 years, ET's P/E ratio has ranged from 4.3x to 15.3x, with a median of 12.2x and an average of 11.1x. The current P/E of 13.9x places the stock at the 75th percentile of this range. Full historical data spans 2006–2026.
How does ET's P/E compare to the S&P 500?
ET trades at 13.9x P/E versus the S&P 500 median of 24.4x. The 43% discount to the market suggests lower growth expectations or perceived higher risk.
How does ET's valuation compare to Energy peers?
Energy Transfer LP P/E of 13.9x compares to the Energy sector median of 15.5x. The discount suggests lower growth expectations, weaker margins, or higher perceived risk relative to peers. See the peer comparison table on this page for ticker-by-ticker P/E and PEG.
What is ET's PEG ratio?
ET PEG ratio is N/A, based on a P/E of 13.9x and EPS growth of 5.5%. PEG normalises P/E by growth and helps compare stocks with different earnings trajectories.
What is ET's earnings yield?
ET earnings yield is 7.20%, the inverse of its 13.9x P/E ratio. Earnings yield represents the percentage of each dollar invested that the company earns. It can be compared directly to bond yields to assess relative attractiveness of stocks versus fixed income.