Energy Transfer (NYSE:ET) Issues Quarterly Earnings Results

Energy Transfer (NYSE:ET) announced its earnings results on Tuesday. The pipeline company reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.06), Zacks reports. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%.

Energy Transfer Price Performance

NYSE ET traded down $0.25 during trading hours on Tuesday, reaching $19.84. The company’s stock had a trading volume of 15,518,312 shares, compared to its average volume of 17,512,035. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.08 and a quick ratio of 0.88. The firm has a market capitalization of $67.93 billion, a price-to-earnings ratio of 14.59, a P/E/G ratio of 0.52 and a beta of 1.69. The company’s 50-day moving average is $19.72 and its two-hundred day moving average is $17.68. Energy Transfer has a 1-year low of $13.94 and a 1-year high of $21.45.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th will be issued a dividend of $0.325 per share. This represents a $1.30 annualized dividend and a dividend yield of 6.55%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Friday, February 7th. Energy Transfer’s payout ratio is 94.85%.

Wall Street Analysts Forecast Growth

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

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.