Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
Energy Transfer LPET +0.59%83 Debt-to-Equity is 2.06 as of Mar. 2026, which is 25% above its 10-year median of 1.65. GuruFocus rates ET with a GF Score™ of 83/100 and a GF Value™ of $19.47 (Fairly Valued). The stock has 11 warning signs investors should review. Among 798 Oil & Gas companies, Energy Transfer LP ranks worse than 88.85% on this metric.
A high debt to equity ratio generally means that a company has been aggressive in financing its growth with debt. This can result in volatile earnings as a result of the additional interest expense.
The historical rank and industry rank for Energy Transfer LP's Debt-to-Equity or its related term are showing as below:
ET'
s Debt-to-Equity Range Over the Past 10 Years
Min: -40.59 Med: 1.65 Max: 2.87
Current: 2.06
During the past 13 years, the highest Debt-to-Equity Ratio of Energy Transfer LP was 2.87. The lowest was -40.59. And the median was 1.65.
ET's Debt-to-Equity is ranked worse than 88.85% of 798
companies
in the Oil & Gas industry
Industry Median: 0.46
vs ET: 2.06
Because a company can increase its ROE % by having more financial leverage, it is important to watch the leverage ratio when investing in high ROE % companies.
Energy Transfer LP Debt-to-Equity Related Terms
Energy Transfer LP Debt-to-Equity Historical Data
* Premium members only.
The historical data trend for Energy Transfer LP's Debt-to-Equity can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Oil & Gas Midstream subindustry, Energy Transfer LP's Debt-to-Equity, along with its competitors' market caps and Debt-to-Equity data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Energy Transfer LP Debt-to-Equity vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Energy Transfer LP's Debt-to-Equity distribution charts can be found below:
* The bar in red indicates where Energy Transfer LP's Debt-to-Equity falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Energy Transfer LP (ET) has a Debt-to-Equity of 2.06 as of Mar. 2026. Debt-to-Equity ratio represents the ratio of total debt to total company equity. View historical data on Energy Transfer LP and its competitors. This is 25% above median its historical median of 1.65. According to the industry distribution chart, Energy Transfer LP ranks #709 out of 798 companies in the Oil & Gas industry, placing it in the top 88.8%.
Is Energy Transfer LP's Debt-to-Equity too high?
Energy Transfer LP's current Debt-to-Equity of 2.06 is 25% above median its 10-year median of 1.65. The Oil & Gas industry median Debt-to-Equity is 0.46. Energy Transfer LP's value of 2.06 is 347.8% above this industry median. Based on the distribution chart, Energy Transfer LP ranks #709 out of 798 companies in the Oil & Gas industry, which is in the bottom quartile relative to peers. Overall, Energy Transfer LP has a GF Score™ of 83/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Energy Transfer LP's Debt-to-Equity compare to KMI and TRGP?
According to the Oil & Gas industry distribution chart, Energy Transfer LP ranks #709 out of 798 companies for Debt-to-Equity. This places Energy Transfer LP in the lower half of its industry. The industry median Debt-to-Equity is 0.46. Energy Transfer LP's value of 2.06 is 347.8% above this benchmark. While the company's 10-year median is 1.65 vs. the industry median of 0.46, Energy Transfer LP has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Debt-to-Equity for an Oil & Gas company?
The median Debt-to-Equity among Oil & Gas companies is 0.46, based on 798 companies in the industry. Companies in the top quartile (top 25%) have a Debt-to-Equity significantly above this median, while those in the bottom quartile fall well below. However, Debt-to-Equity should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Energy Transfer LP's current Debt-to-Equity of 2.06 is 347.8% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Debt-to-Equity mean?
A high Debt-to-Equity can signal that a stock is expensive relative to its fundamentals. Debt-to-Equity ratio represents the ratio of total debt to total company equity. View historical data on Energy Transfer LP and its competitors. For the Oil & Gas industry, the median Debt-to-Equity is 0.46 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Energy Transfer LP's current Debt-to-Equity is 2.06, which is 25% above median its own 10-year median of 1.65. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Energy Transfer LP stock overvalued right now?
Based on GuruFocus' analysis, Energy Transfer LP (ET) is currently considered Fairly Valued. The stock's GF Value™ is $19.47, compared to a current price of $20.36 — trading 4.6% above its estimated fair value. The current Debt-to-Equity is 2.06, which is 25% above median its 10-year median of 1.65 and 347.8% above the Oil & Gas industry median of 0.46. Energy Transfer LP's overall GF Score™ is 83/100 with 11 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Debt-to-Equity calculated?
Debt-to-Equity is calculated from a company's financial statements. For Energy Transfer LP (ET), the current Debt-to-Equity is 2.06 as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Energy Transfer LP (ET) Overvalued in 2026?
Based on GuruFocus' analysis, Energy Transfer LP stock appears to be overvalued.
The current stock price of $20.36 is trading 4.6% above its estimated GF Value™ of $19.47.
GuruFocus considers Energy Transfer LP to be Fairly Valued.
Key valuation signals for ET:
Debt-to-Equity: 2.06 (25% above median its 10-year median of 1.65)
GF Value™: $19.47 vs. price of $20.36 (4.6% above fair value)
Industry Position: 347.8% above the Oil & Gas median (#709 of 798)
No single metric tells the full story. See the ET stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Energy Transfer is a diversified midstream firm operating from wellhead to consuming demand. It handles natural gas, natural gas liquids, crude oil, and refined products. Commodities are moved through its network of field-level gathering and processing to refineries and demand centers. Operations are concentrated in Texas and the midcontinent United States. It also controls Sunoco and USA Compression through its general partner relationship.
83GF Score
Get the complete analysis for ET
Debt-to-Equity is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
ET has been successfully added to your 
