Energy Transfer LP (NYSE:ET) to Issue Quarterly Dividend of $0.33

Energy Transfer LP (NYSE:ET) declared a quarterly dividend on Monday, January 27th,Wall Street Journal reports. Stockholders of record on Friday, February 7th will be given a dividend of 0.325 per share by the pipeline company on Wednesday, February 19th. This represents a $1.30 annualized dividend and a dividend yield of 6.38%. The ex-dividend date of this dividend is Friday, February 7th. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32.

Energy Transfer has increased its dividend by an average of 27.9% annually over the last three years. Energy Transfer has a payout ratio of 82.2% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. 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 $1.29 annual dividend with an expected future payout ratio of 89.0%.

Energy Transfer Stock Performance

ET stock opened at $20.36 on Wednesday. The stock has a 50-day moving average price of $19.43 and a 200-day moving average price of $17.39. Energy Transfer has a 1-year low of $13.79 and a 1-year high of $21.45. The company has a current ratio of 1.08, a quick ratio of 0.88 and a debt-to-equity ratio of 1.40. The firm has a market cap of $69.72 billion, a PE ratio of 14.97, a price-to-earnings-growth ratio of 0.55 and a beta of 1.70.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share for the quarter, hitting the consensus estimate of $0.32. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The firm had revenue of $20.77 billion during the quarter, compared to analyst estimates of $21.59 billion. During the same period last year, the company posted $0.31 EPS. The business’s quarterly revenue was up .2% on a year-over-year basis. As a group, equities research analysts expect that Energy Transfer will post 1.37 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on ET shares. Wells Fargo & Company boosted their target price on Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Bank of America started coverage on Energy Transfer in a research report on Thursday, October 17th. They issued a “buy” rating and a $20.00 target price for the company. The Goldman Sachs Group boosted their target price on Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a research report on Thursday, December 19th. Barclays lifted their price target 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, Royal Bank of Canada lifted their price target on Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus 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.