Waverly Advisors 13F: Adds $6M to Energy Transfer (ET) Stake

Waverly Advisors boosted its stake in Energy Transfer LP ET during the quarter, adding 314,965 shares to grow its portfolio. That move expanded the firm's holdings by 22.3%, bringing its total position to 1,725,843 shares. According to its Form 13F filing with the SEC, the updated stake carried a value of about $33.0 million at the end of the period. Institutional filings look backward and may not reflect current trading activity.

Energy Transfer LP Stock Price and Valuation

Energy Transfer LP shares change hands around $19.12, sitting comfortably between its 52-week low of $16.18 and its high of $21.84. The midstream energy operator trades with a price-to-earnings ratio of 13.6 and a forward P/E of 11.5. Its dividend yield sits at 6.8%, with a payout ratio of 91.4%.

Energy Transfer LP Analyst Ratings and Targets

Wall Street firms maintain positive outlooks on Energy Transfer LP, with recent updates from major financial institutions. On September 4, 2026, JP Morgan maintained its Overweight rating and lifted its price target to $25.00 from $24.00. Earlier, on August 18, 2026, Morgan Stanley maintained an Equal-Weight rating while raising its target to $25.00 from $23.00. Truist Securities kept a Buy rating on August 12, 2026, pushing its target to $25.00. TD Cowen maintained a Buy rating on August 10, 2026, raising its target to $25.00, and Citigroup kept a Buy rating on August 7, 2026, with a $24.00 target. Barclays maintained an Overweight rating on August 5, 2026, lifting its target to $24.00, while RBC Capital kept an Outperform rating on July 21, 2026, raising its target to $23.00. TD Cowen also maintained a Buy rating on July 16, 2026, with a $24.00 target. The stock carries a consensus recommendation of Strong Buy from 23 analysts, with a mean price target of $24.74.

Inside Energy Transfer LP Operations

Energy Transfer LP operates as a major midstream energy company providing infrastructure services across the United States. Headquartered in Dallas, Texas, the firm handles natural gas transportation, storage, gathering, and processing, alongside crude oil and natural gas liquid services. Its extensive network includes thousands of miles of pipelines spanning multiple states.

Looking Ahead for Waverly Advisors and Energy Transfer LP

Investors tracking Waverly Advisors will see further portfolio adjustments in subsequent quarterly filings submitted to regulators. Energy Transfer LP is scheduled to report its next round of earnings on November 3, 2026. These disclosures will offer a clearer picture of how midstream operators perform through the remainder of the year.