Energy Transfer LP (NYSE:ET) to Issue Quarterly Dividend of $0.34

Energy Transfer LP (NYSE:ET) declared a quarterly dividend on Tuesday, January 27th. Stockholders of record on Friday, February 6th will be given a dividend of 0.335 per share by the pipeline company on Thursday, February 19th. This represents a c) dividend on an annualized basis and a dividend yield of 7.4%. The ex-dividend date is Friday, February 6th. This is a 0.8% increase from Energy Transfer’s previous quarterly dividend of $0.33.

Energy Transfer has raised its dividend payment by an average of 0.0%annually over the last three years and has raised its dividend every year for the last 4 years. Energy Transfer has a dividend payout ratio of 85.3% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Research analysts expect Energy Transfer to earn $1.52 per share next year, which means the company should continue to be able to cover its $1.33 annual dividend with an expected future payout ratio of 87.5%.

Energy Transfer Stock Up 0.9%

Shares of NYSE ET traded up $0.16 during mid-day trading on Wednesday, hitting $18.11. 3,441,778 shares of the stock traded hands, compared to its average volume of 15,362,579. The company has a market cap of $62.16 billion, a price-to-earnings ratio of 14.48, a PEG ratio of 0.94 and a beta of 0.66. The stock has a fifty day moving average price of $16.78 and a 200-day moving average price of $17.07. Energy Transfer has a 52 week low of $14.60 and a 52 week high of $21.16. The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.14 and a current ratio of 1.41.

Energy Transfer (NYSE:ET) last announced its quarterly earnings data on Wednesday, November 5th. The pipeline company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.06). Energy Transfer had a net margin of 5.66% and a return on equity of 10.71%. The firm had revenue of $19.95 billion for the quarter, compared to analysts’ expectations of $21.84 billion. During the same period in the prior year, the business posted $0.32 EPS. The business’s quarterly revenue was down 3.9% compared to the same quarter last year. Research analysts anticipate that Energy Transfer will post 1.46 EPS for the current year.

Insider Activity

In other Energy Transfer news, Director Kelcy L. Warren acquired 1,000,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 19th. The shares were bought at an average cost of $16.95 per share, with a total value of $16,950,000.00. Following the completion of the transaction, the director directly owned 104,577,803 shares of the company’s stock, valued at approximately $1,772,593,760.85. This represents a 0.97% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.28% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Energy Transfer

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. CNB Bank grew its stake in shares of Energy Transfer by 111.1% in the second quarter. CNB Bank now owns 1,900 shares of the pipeline company’s stock worth $34,000 after acquiring an additional 1,000 shares during the period. Financial Life Planners purchased a new stake in Energy Transfer in the third quarter worth approximately $34,000. HHM Wealth Advisors LLC grew its position in Energy Transfer by 54.4% in the 2nd quarter. HHM Wealth Advisors LLC now owns 2,270 shares of the pipeline company’s stock worth $41,000 after purchasing an additional 800 shares during the period. Core Alternative Capital bought a new stake in Energy Transfer in the 3rd quarter worth approximately $46,000. Finally, FSC Wealth Advisors LLC purchased a new stake in Energy Transfer during the 2nd quarter valued at $50,000. Institutional investors own 38.22% of the company’s stock.

About Energy Transfer

Energy Transfer (NYSE: ET) is a Dallas-based midstream energy company that develops and operates infrastructure for the transportation, storage and processing of hydrocarbons. The company’s operations focus on moving and storing natural gas, natural gas liquids (NGLs), crude oil and refined products through an integrated network of pipelines, terminals, storage facilities and processing plants. Energy Transfer provides core midstream services such as gathering, compression, fractionation, processing, and bulk transportation to support production and downstream supply chains.

Its asset base spans an extensive network across the United States, connecting producing regions, processing centers, petrochemical hubs and coastal and inland markets.