Energy Transfer (ET) is back in focus after the company detailed a major expansion of its Nederland NGL Export Terminal, adding significant ethane and LPG capacity backed by long term contracts running into the 2040s.

For investors tracking Energy Transfer, the latest terminal expansion news arrives as the stock trades at US$19.33 with a year to date share price return of 16.52%, alongside a 1 year total shareholder return of 17.32% and a very strong 5 year total shareholder return of 174.23%. Together, these figures suggest momentum has been building over the longer term, even if shorter term moves are more muted.

If you are looking beyond Energy Transfer and want to see what else is moving in energy infrastructure, this is a good moment to scan 35 power grid technology and infrastructure stocks

So, with Energy Transfer units up strongly over 1 and 5 years and the Nederland expansion backed by long contracts, is the stock still undervalued today, or is the market already pricing in years of future growth?

Most Popular Narrative: 18.1% Undervalued

Using the most followed narrative, Energy Transfer's fair value sits at $23.59 per unit versus the last close of $19.33, which frames the units as materially discounted on that view.

The company's NGL export capacity expansions at the Nederland terminal and new pipeline loopings position it to benefit from increased U.S. hydrocarbon exports to international markets, supporting sustained throughput and export revenues as global energy demand rises.

Want to see what is driving that fair value for Energy Transfer? The narrative leans heavily on future revenue, margin uplift and a richer profit multiple. Curious which assumptions really move the dial here? The full breakdown shows exactly how those inputs stack up against today's $19.33 price.

Result: Fair Value of $23.59 (UNDERVALUED)

However, Energy Transfer's narrative could be tested if large, multi year projects run into regulatory delays or if weaker Bakken and Permian volumes persist.

Next Steps

If this Energy Transfer story appears to reflect both opportunities and concerns, consider promptly evaluating the assumptions yourself and weighing both sides using 3 key rewards and 2 important warning signs

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.