With a year-to-date (YTD) of over 23%, Energy Transfer (ET) is outperforming the S&P 500 Index ($SPX) by a big margin this year. In my previous article, I noted that ET could deliver decent returns in the medium term and discussed the possibility of a rally in Q4 2025. The stock has since risen over 20% even as the gains have come this year instead of in the final quarter of 2025 as I had expected. Nonetheless, with ET stock now up significantly from its 2025 lows, let’s explore whether it is still a buy or if it's now too late to enter this midstream energy company.
