Energy Transfer LP (ET) to Issue Quarterly Dividend of $0.33 on February 19th

Energy Transfer LP (NYSE:ET) announced a quarterly dividend on Monday, January 27th,Wall Street Journal reports. Shareholders of record on Friday, February 7th will be paid a dividend of 0.325 per share by the pipeline company on Wednesday, February 19th. This represents a $1.30 dividend on an annualized basis and a yield of 6.21%. The ex-dividend date of this dividend is Friday, February 7th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32.

Energy Transfer has raised its dividend by an average of 27.9% per year over the last three years. Energy Transfer has a payout ratio of 82.8% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. 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 $1.30 annual dividend with an expected future payout ratio of 89.7%.

Energy Transfer Price Performance

ET opened at $20.93 on Wednesday. The company has a market capitalization of $71.66 billion, a price-to-earnings ratio of 15.37, a PEG ratio of 0.54 and a beta of 1.69. 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 has a 12-month low of $13.79 and a 12-month high of $21.45. The business’s fifty day simple moving average is $19.66 and its 200-day simple moving average is $17.57.

Energy Transfer (NYSE:ET) last issued its earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.32. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The company had revenue of $20.77 billion for the quarter, compared to analysts’ expectations of $21.59 billion. During the same period in the prior year, the business earned $0.31 EPS. The firm’s quarterly revenue was up .2% on a year-over-year basis. On average, equities research analysts anticipate that Energy Transfer will post 1.36 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Bank of America initiated 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. Royal Bank of Canada boosted their price target on Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Wells Fargo & Company upped their price objective on Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. Barclays lifted their target price on Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Finally, The Goldman Sachs Group increased their price target on shares of Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a research report on Thursday, December 19th. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target 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.