Analysts Name Energy Transfer and Chevron for Dividend Income

Top Wall Street analysts have identified two energy companies as sources of consistent dividend income for investors navigating market volatility driven by rising Treasury yields and high oil prices. Energy Transfer operates roughly 140,000 miles of pipelines and related infrastructure across the United States. 7 percent.

Cowen analyst Jason Gabelman reiterated a buy rating on Energy Transfer and increased his price target to $23 from $22. He cited underused assets in second-tier gas basins and higher volumes, rates, and spreads as sources of upside. Gabelman noted that Energy Transfer raised its full-year EBITDA guidance after meeting its optimization target in the first quarter.

He projects an additional $200 million in EBITDA from new projects and 800 million cubic feet per day of Haynesville volume growth this year, which would add $100 million in EBITDA. The company also plans to sanction multiple projects in 2026 expected to contribute another $400 million in EBITDA.

5 billion in dividends. 7 percent. Wells Fargo analyst Sam Margolin reaffirmed a buy rating with a $222 price target after investor meetings with Chevron management. He pointed to full or above-capacity production at key assets in the Permian Basin, Kazakhstan, Australia LNG, and Guyana.

Margolin said Chevron intends to maintain a 1 million barrels of oil equivalent per day plateau in the Permian, supported by operational efficiencies and advanced chemical treatments that have delivered about 20 percent productivity gains in the first 10 months.

He also highlighted an exclusivity agreement with Microsoft for the first project under Chevron's power joint venture, backed by 5 gigawatts of turbines already on order. " — Sam Margolin, Wells Fargo analyst, March 2026 (cnbc.