Energy Transfer agrees to buy Vaquero: meaning for Energy Transfer stock

Published on 10/13/2026 at 11:03 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Vaquero deal totals USD 2.63 billion, including USD 1.95 billion cash. For Energy Transfer stock, this means 33.3 million new units.

Energy Transfer agreed on October 6, 2026 to acquire Vaquero Midstream in a USD 2.63 billion transaction.
The deal includes USD 1.95 billion in cash and 33.3 million newly issued common units.
Second-quarter 2026 revenue rose 78.40 percent year over year to USD 34.33 billion, while earnings per unit reached USD 0.59.
Energy Transfer plans to publish third-quarter 2026 results on November 3, 2026.
The units began trading on the Texas Stock Exchange on October 5, 2026.

ET, US29273V1008, Illustration mit AI erstellt.

Energy Transfer LP (ISIN US29273V1008) agreed on October 6, 2026 to acquire Vaquero Midstream in a transaction valued at USD 2.63 billion, according to Energy Transfer. The consideration includes USD 1.95 billion in cash and 33.3 million newly issued common units, while the company expects the deal to close in the fourth quarter of 2026.

Three milestones shape the story

On October 1, 2026, Business Wire reported that Energy Transfer had scheduled its third-quarter results for November 3, 2026. The release is planned before the market opens, followed by a conference call at 9:00 a.m. Eastern Time.

On October 5, 2026, the units began trading on the Texas Stock Exchange under ticker ET after the company announced the listing transfer, as stated by Business Wire. The October 6 Vaquero agreement is the latest of the three milestones and adds a specific growth transaction to the upcoming results calendar.

What does Vaquero mean for cash flow?

The acquired system includes three natural gas processing plants with total capacity of 675 MMcf/d and a pipeline network of approximately 300 miles. Energy Transfer said the assets should be immediately accretive to distributable cash flow per common unit and are supported by contracts with an average remaining life of approximately 10 years.

The transaction also brings execution risk into the picture. The closing remains subject to regulatory approval and customary conditions, and the assets could support capacity of up to 1.2 Bcf/d if two additional processing trains are built, according to the company release. That expansion figure is a potential capacity, not a reported operating result.

Second-quarter figures set the baseline

For the second quarter of 2026, Energy Transfer reported revenue of USD 34.33 billion, up 78.40 percent from the second quarter of 2025, and earnings per unit of USD 0.59 versus USD 0.32 a year earlier, according to MarketBeat. The comparison gives investors a concrete operating benchmark before the November report.

MarketBeat also reported on October 5, 2026 that 14 of 17 covering firms rated the units Buy or Strong Buy, with an average 12-month target of USD 24.36. Zacks identified USD 5.6 billion to USD 5.9 billion of 2026 growth capital spending as an execution risk and cited a 57.52 percent debt-to-capital ratio.

Dates investors can mark

The next scheduled corporate date is November 3, 2026, when Energy Transfer plans to release third-quarter results and hold its earnings call. The Vaquero transaction is expected to close in the fourth quarter of 2026, subject to regulatory approval and customary closing conditions.

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