Energy Transfer LP (NYSE:ET) Raises Dividend to $0.32 Per Share

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 7.95%. The ex-dividend date is Friday, May 10th. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32.

Energy Transfer has increased its dividend by an average of 5.0% per year over the last three years and has raised its dividend annually for the last 3 consecutive years. Energy Transfer has a dividend payout ratio of 74.6% indicating that its dividend is sufficiently covered by earnings. Research 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 Up 0.5 %

Shares of ET opened at $15.95 on Friday. The company has a market capitalization of $53.72 billion, a P/E ratio of 14.63 and a beta of 1.64. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.10 and a quick ratio of 0.88. Energy Transfer has a one year low of $12.18 and a one year high of $16.04. The business’s 50 day simple moving average is $15.33 and its 200-day simple moving average is $14.31.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data on Wednesday, February 14th. The pipeline company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.08. Energy Transfer had a return on equity of 12.17% and a net margin of 4.85%. The firm had revenue of $20.53 billion for the quarter, compared to the consensus estimate of $21.46 billion. During the same quarter in the prior year, the business earned $0.34 EPS. The business’s revenue for the quarter was up .2% compared to the same quarter last year. As a group, sell-side analysts predict that Energy Transfer will post 1.48 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on ET shares. Citigroup upped their price objective on Energy Transfer from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. UBS Group cut their price target on Energy Transfer from $23.00 to $22.00 and set a “buy” rating on the stock in a research note on Thursday, February 15th. Finally, Mizuho reissued a “buy” rating and issued a $19.00 price target (up previously from $18.00) on shares of Energy Transfer in a research note on Thursday, April 18th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Energy Transfer currently has a consensus rating of “Moderate Buy” and an average price target 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.