Two of the top midstream master limited partnerships (MLPs) no doubt are Energy Transfer ( ET +0.91% ) and Enterprise Products Partners ( EPD 0.25% ) . Both companies own top-tier pipeline assets, although Enterprise has historically been the more conservatively run company. It has also been the better performer in 2025, generating about a 10% total return after distributions, while Energy Transfer's stock has been in the red this year.

The question, though, is which stock will outperform next year. Let's look at the cases for both stocks.

The case for Energy Transfer Expand

NYSE : ET Energy Transfer Today's Change ( 0.91 %) $ 0.15 Current Price $ 16.56

Key Data Points Market Cap $57B Day's Range $ 16.37 - $ 16.65 52wk Range $ 14.60 -

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