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2 insiders bought €18.6M of shares over the last 90 days, the latest by WARREN KELCY L, filed 20 Aug 2026.
Energy Transfer LP: what insiders have been doing
Every trade that managers of Energy Transfer LP disclose to SEC (Form 4) is tracked on this page. The company sits in the Energy sector. Over the twelve months to 18 October 2026, 16 filings were filed, from 13 insiders.
Not one open-market sale was filed. On the buying side, 2 insiders reported 4 purchases totalling €33.2M. A purchase on the market is a deliberate choice to commit personal money, which is why it draws more attention than a grant. Biggest ticket of the year: €14.6M, bought by Warren Kelcy l and made public on 20 November 2025. The buyers include 2 senior executives.
In the case of 2 purchases, another manager of the company was buying within the same 30 days. Such overlaps are known as a cluster signal: distinct people reaching the same decision at about the same time. The last purchase on record was published on 20 August 2026, which is 59 days ago. Between a trade and the moment it shows up on SEC (Form 4), the median delay is 4 days. Section 16 rules allow two business days to file each Form 4.
Compared with its exchange (5,458 companies, median 22 filings), a count of 16 filings is below the norm. The full history, which starts in 2016, counts 52 purchases against no sales. For the fiscal year to 31 December 2025, the annual 10-K puts revenue at 85.54 bn USD and net income at 4.43 bn USD.
In the same sector, recent insider purchases at AXIA Energia S.A. and RGC Resources Inc also feature in our signals. This summary is built from SEC (Form 4) disclosures alone and does not predict where the share price will go.
Insider Decl.
147
Thresholds
n/a
Buy Volume
€422M
52 ops. · all time
Sell Volume
n/a
n/a
Who traded when
BuySaleKelcy L. Warren4 buys
James Richard Perry1 buy
Since the insiders bought
- -0.6%Entry US$11.47 · Close at T+30 US$11.40
- -0.7%Entry US$11.49 · Close at T+30 US$11.41
Entry is the close on the day after publication, the first price a reader could act on. Prices in the listing currency. Past moves are not a forecast.
Analyst consensus: bullish or bearish?
Analysts rate Energy Transfer LP Strong Buy (bullish), based on 23 analysts. Average price target: US$24.74.
This score ranks the purchase within its own market. A position size is suggested only on the venues of the backtested strategy universe; elsewhere, signals stay on watch. Not investment advice.
Fundamental score
Ranked 10,094 of 23,476 companies
55.2
score / 100
Value67
Quality44
FCF yld5.5%
Earn yld6.0%
EV/EBITDA9.2x
ROE15%
Gross mgn19%
Net mgn4.9%
Debt/EBITDA4.6x
Pillars2/3
Transparent value + quality ranking, distinct from the insider signal.
Financial data
as of FY 2025FY ended December 2025 · cache
US$20.26
Analyst consensus
23 analystsStrong buy
US$22.00Target US$24.74(+22%)US$28.00
Income statement
RevenueUS$85.5B
Gross profitUS$16.4B19% margin
EBITDAUS$15.2B18% margin
Net incomeUS$4.2B4.9% margin
Valuation
PER (trailing)13.9x
PER (forward)11.6x
P/Book2.2x
Beta0.60
Balance sheet & cash
Market capUS$69.8B
Total debtUS$70.1B
Free Cash FlowUS$3.8B
Debt / Equity138%
Profitability & ownership
ROE14.6%
ROA5.1%
% insiders10.3%
% institutions32.5%
Last declaration on 20 August 2026
Declarations147 total
647,968 shares@ US$21.262.8% of flowCommon UnitsSEC:0001193125-26-359388:1
Canonical exit: 17 Nov 2026 (T+90)
352,032 shares@ US$21.271.5% of flowCommon UnitsSEC:0001193125-26-359388:0
Canonical exit: 16 Nov 2026 (T+90)
12,359.372 shares@ US$20.2276100.0% of flowCommon UnitsSEC:0001193125-26-342811:0
Canonical exit: 5 Nov 2026 (T+90)
3,116 shares@ US$19.285100.0% of flowCommonSEC144:0001959173-26-004446
7,423 shares0Common UnitsSEC:0001193125-26-004717:0
7,423 shares0Common UnitsSEC:0001193125-26-004723:0
10 shares0Common UnitsSEC:0001193125-26-004720:0
10 shares0Common UnitsSEC:0001193125-26-004715:0
10 shares0Common UnitsSEC:0001193125-26-004712:0
46,255 shares@ US$16.6070.0% of flowCommon UnitsSEC:0001193125-25-312990:0
330,637 shares@ US$16.6035.0% of flowCommon UnitsSEC:0001193125-25-312989:0
22,745 shares@ US$16.6030.1% of flowCommon UnitsSEC:0001193125-25-312987:0
47,251 shares@ US$16.6039.5% of flowCommon UnitsSEC:0001193125-25-312986:0
46,534 shares@ US$16.6034.1% of flowCommon UnitsSEC:0001193125-25-312985:0
381,947 shares@ US$16.6027.4% of flowCommon UnitsSEC:0001193125-25-312981:0
1,000,000 shares@ US$16.953.5% of flowCommon UnitsSEC:0001193125-25-290036:0
Canonical exit: 17 Feb 2026 (T+90)
650,000 shares@ US$17.302.3% of flowCommon UnitsSEC:0000950170-25-110551:0
Canonical exit: 17 Nov 2025 (T+90)
25,892 shares@ US$13.52100.0% of flowCommon UnitsSEC:0000950170-25-087539:0
Canonical exit: 4 Feb 2024 (T+90)
10 shares0Common UnitsSEC:0000950170-25-002179:0
7,760 shares0Common UnitsSEC:0000950170-25-002186:0
7,760 shares0Common UnitsSEC:0000950170-25-002187:0
10 shares0Common UnitsSEC:0000950170-25-002188:0
10 shares0Common UnitsSEC:0000950170-25-002184:0
10 shares0Common UnitsSEC:0000950170-25-002181:0
107,775 shares0Common UnitsSEC:0000950170-24-134570:0
25 of 147 declarations
About Energy Transfer LP
Energy Transfer LP (NYSE: ET) is a major U.S. energy infrastructure company focused on midstream transportation, storage, processing, and terminalling. Headquartered in Dallas, Texas, United States, the partnership was co-founded in 1996 by Kelcy Warren and Ray Davis. It has evolved from a small intrastate natural-gas pipeline operator into one of the largest and most diversified publicly traded energy infrastructure companies in the country. Its listing on the NYSE places it squarely within the U.S. large-cap infrastructure universe, where it is followed by income-oriented and energy-focused investors. ([ir.energytransfer.com](https://ir.energytransfer.com/news-releases/news-release-details/energy-transfer-marks-25-years-us-midstream-industry-leader?utm_source=openai))
Energy Transfer’s business model is built around fee-based assets and large-scale logistics infrastructure. Core operations include natural gas midstream gathering and processing, intrastate and interstate transportation and storage, crude oil pipelines, natural gas liquids (NGL) transportation, NGL fractionation, refined products transportation, terminalling, and certain acquisition and marketing activities. The company also owns LNG-related assets through Lake Charles LNG, giving it exposure to the growing liquefied natural gas export theme. In recent company disclosures, Energy Transfer describes itself as owning approximately 140,000 miles of pipeline and associated infrastructure, with a footprint across the major U.S. production basins. ([ir.energytransfer.com](https://ir.energytransfer.com/news-releases/news-release-details/energy-transfer-lp-files-2025-annual-report/?utm_source=openai))
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From a competitive standpoint, Energy Transfer is a top-tier U.S. midstream platform thanks to the scale of its asset base, breadth across commodities, and strategic positioning near key supply basins and market hubs. Its integrated network helps it capture transportation volumes, storage demand, and processing activity while reducing dependence on any single basin or commodity. The partnership also owns interests in Sunoco LP and USA Compression Partners, extending its reach into adjacent energy infrastructure businesses and strengthening its overall midstream ecosystem exposure. ([ir.energytransfer.com](https://ir.energytransfer.com/news-releases/news-release-details/energy-transfer-lp-files-2025-annual-report/?utm_source=openai))
Recent strategic milestones have reinforced the company’s growth narrative. In 2025, Energy Transfer expanded its LNG supply agreement with Chevron from the Lake Charles LNG project, lifting Chevron’s total contracted volume to 3.0 mtpa, subject to a final investment decision. Also in 2025, the company approved an expansion of its Transwestern Pipeline to serve Arizona and New Mexico, targeting growing gas demand in the Southwest. Energy Transfer additionally signed natural-gas supply agreements tied to data-center development in Texas, underscoring how the company is positioning its pipeline system to benefit from power demand growth, data-center electrification, and longer-term LNG export opportunities. ([ir.energytransfer.com](https://ir.energytransfer.com/news-releases/news-release-details/energy-transfer-expands-lng-supply-agreement-chevron-10-million/?utm_source=openai))
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