Energy Transfer LP (NYSE:ET) Announces Quarterly Dividend of $0.32

Energy Transfer LP (NYSE:ET) declared a quarterly dividend on Wednesday, April 24th, Zacks reports. Stockholders of record on Monday, May 13th will be paid a dividend of 0.317 per share by the pipeline company on Monday, May 20th. This represents a $1.27 annualized dividend and a dividend yield of 8.01%. The ex-dividend date is Friday, May 10th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32.

Energy Transfer has raised its dividend by an average of 5.0% annually over the last three years and has increased its dividend annually for the last 3 consecutive years. Energy Transfer has a payout ratio of 74.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Energy Transfer to earn $1.58 per share next year, which means the company should continue to be able to cover its $1.26 annual dividend with an expected future payout ratio of 79.7%.

Energy Transfer Stock Performance

Energy Transfer stock opened at $15.83 on Thursday. The company has a market capitalization of $53.34 billion, a PE ratio of 14.56 and a beta of 1.64. The firm has a fifty day simple moving average of $15.30 and a two-hundred day simple moving average of $14.30. The company has a quick ratio of 0.88, a current ratio of 1.10 and a debt-to-equity ratio of 1.37. Energy Transfer has a twelve month low of $12.18 and a twelve month high of $16.04.

Energy Transfer (NYSE:ET) last issued its earnings results on Wednesday, February 14th. The pipeline company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.08. The company had revenue of $20.53 billion during the quarter, compared to analysts’ expectations of $21.46 billion. Energy Transfer had a return on equity of 12.17% and a net margin of 4.85%. Energy Transfer’s quarterly revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.34 EPS. Research analysts expect that Energy Transfer will post 1.46 EPS for the current year.

Analyst Ratings Changes

Several brokerages have commented on ET. UBS Group lowered their price objective on shares of Energy Transfer from $23.00 to $22.00 and set a “buy” rating for the company in a report on Thursday, February 15th. Mizuho reiterated a “buy” rating and issued a $19.00 price objective (up previously from $18.00) on shares of Energy Transfer in a report on Thursday, April 18th. Finally, Citigroup boosted their target price on shares of Energy Transfer from $17.00 to $18.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $18.00.

About Energy Transfer

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.