
Energy Transfer (ET) has raised its 2026 EBITDA guidance to $18.2–$18.6B, reflecting robust growth across diversified midstream segments. ET's distribution increases are expected to accelerate, with a projected 2027 payout of $1.416 per unit, implying a yield above 7%. Leverage stands at 3.85x, below management's 4x–4.5x target, yet remains higher than peers, sustaining a higher yield requirement.










