Energy Transfer LP (NYSE:ET) to Issue Dividend Increase – $0.34 Per Share

Energy Transfer LP (NYSE:ET) announced a quarterly dividend on Monday, July 27th. Investors of record on Friday, August 7th will be given a dividend of 0.34 per share by the pipeline company on Wednesday, August 19th. This represents a c) annualized dividend and a yield of 6.8%. The ex-dividend date is Friday, August 7th. This is a 0.7% increase from Energy Transfer’s previous quarterly dividend of $0.34.

Energy Transfer has raised its dividend by an average of 0.0%per year over the last three years and has raised its dividend annually for the last 4 consecutive years. Energy Transfer has a dividend payout ratio of 86.5% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities 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 $1.35 annual dividend with an expected future payout ratio of 88.8%.

Energy Transfer Price Performance

Shares of ET opened at $19.91 on Tuesday. Energy Transfer has a fifty-two week low of $16.18 and a fifty-two week high of $20.70. The firm’s 50-day simple moving average is $19.54 and its two-hundred day simple moving average is $19.02. The stock has a market cap of $68.50 billion, a PE ratio of 16.59, a price-to-earnings-growth ratio of 1.18 and a beta of 0.55. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.93 and a current ratio of 1.17.

Energy Transfer (NYSE:ET) last released its earnings results on Tuesday, May 5th. The pipeline company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.05). Energy Transfer had a net margin of 4.66% and a return on equity of 9.77%. The business had revenue of $27.77 billion for the quarter, compared to analysts’ expectations of $25.78 billion. During the same quarter in the previous year, the business posted $0.36 earnings per share. Energy Transfer’s revenue for the quarter was up 32.1% on a year-over-year basis. Analysts anticipate that Energy Transfer will post 1.43 earnings per share for the current fiscal year.

Institutional Trading of Energy Transfer

Institutional investors and hedge funds have recently modified their holdings of the business. Basepoint Wealth LLC bought a new position in shares of Energy Transfer during the fourth quarter valued at $25,000. Gables Capital Management Inc. increased its holdings in Energy Transfer by 60.0% in the 4th quarter. Gables Capital Management Inc. now owns 1,600 shares of the pipeline company’s stock worth $26,000 after buying an additional 600 shares in the last quarter. Cassaday & Co Wealth Management LLC purchased a new position in Energy Transfer in the 1st quarter worth about $35,000. Sarver Vrooman Wealth Advisors purchased a new position in Energy Transfer in the 4th quarter worth about $32,000. Finally, Financial Life Planners bought a new position in Energy Transfer during the 1st quarter valued at about $40,000. 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.