Energy Transfer LP (NYSE:ET) Declares Dividend Increase – $0.33 Per Share

Energy Transfer LP (NYSE:ET) declared a quarterly dividend on Monday, January 27th,Wall Street Journal reports. Shareholders of record on Friday, February 7th will be given a dividend of 0.325 per share by the pipeline company on Wednesday, February 19th. This represents a $1.30 annualized dividend and a dividend yield of 6.38%. The ex-dividend date is Friday, February 7th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32.

Energy Transfer has increased its dividend payment by an average of 27.9% annually over the last three years. Energy Transfer has a dividend payout ratio of 82.2% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities analysts expect Energy Transfer to earn $1.45 per share next year, which means the company should continue to be able to cover its $1.29 annual dividend with an expected future payout ratio of 89.0%.

Energy Transfer Stock Performance

Shares of ET stock traded up $0.55 during trading on Tuesday, hitting $20.36. The company’s stock had a trading volume of 21,930,659 shares, compared to its average volume of 18,129,697. The business has a fifty day moving average of $19.43 and a 200-day moving average of $17.39. The company has a market cap of $69.72 billion, a PE ratio of 14.97, a P/E/G ratio of 0.55 and a beta of 1.70. Energy Transfer has a 52 week low of $13.79 and a 52 week high of $21.45. The company has a current ratio of 1.08, a quick ratio of 0.88 and a debt-to-equity ratio of 1.40.

Energy Transfer (NYSE:ET) last announced its earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.32. The firm had revenue of $20.77 billion during the quarter, compared to analyst estimates of $21.59 billion. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The business’s revenue was up .2% compared to the same quarter last year. During the same period last year, the firm posted $0.31 EPS. As a group, research analysts anticipate that Energy Transfer will post 1.37 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have weighed in on ET. Wells Fargo & Company boosted their target price on shares of Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. The Goldman Sachs Group raised their target price on Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Thursday, December 19th. Royal Bank of Canada upped their price target on Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. Barclays lifted their price objective on Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Finally, Bank of America began coverage on shares of Energy Transfer in a report on Thursday, October 17th. They set a “buy” rating and a $20.00 price objective on the stock. One analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, Energy Transfer presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.82.

Energy Transfer Company Profile

Energy Transfer LP provides energy-related services. The company owns and operates natural gas transportation pipeline, and natural gas storage facilities in Texas and Oklahoma; and approximately 20,090 miles of interstate natural gas pipeline. It also sells natural gas to electric utilities, independent power plants, local distribution and other marketing companies, and industrial end-users.