Recent Updates — ET-PI

Energy Transfer LP reported second quarter 2026 net income attributable to partners of $2.09 billion, up from $1.16 billion in the prior year period. Adjusted EBITDA increased 31% to $5.07 billion, while distributable cash flow rose 32% to $2.59 billion. The company raised its full-year 2026 Adjusted EBITDA guidance range to $18.8–$19.1 billion from the previous $18.2–$18.6 billion estimate. Additionally, Energy Transfer announced a quarterly cash distribution of $0.34 per common unit for the quarter ended June 30, 2026, representing a year-over-year increase of more than 3%. The filing also details the issuance of $1.75 billion in junior subordinated notes due 2057 and highlights record NGL transportation volumes and continued infrastructure expansion across its midstream network. Energy Transfer LP operates one of the largest diversified portfolios of energy assets in the United States, including natural gas, crude oil, and NGL pipelines.

Energy Transfer LP redomiciled from Delaware to Texas on July 6, 2026, through a Plan of Conversion approved by the board of directors of its general partner and the Conflicts Committee. The transition replaces the Delaware Partnership Agreement and the Delaware Revised Uniform Limited Partnership Act with the Texas Partnership Agreement and the Texas Business Organizations Code. The redomiciliation does not change the company's CUSIP, trading symbol, federal tax identification number, or material business operations, assets, or liabilities. All existing units, options, warrants, and employee benefit plans convert to equivalent instruments under the new Texas-based entity. Energy Transfer LP is an energy infrastructure company that operates midstream assets.