Energy Transfer LP to Issue Quarterly Dividend of $0.32 (NYSE:ET)

Energy Transfer LP (NYSE:ET) announced a quarterly dividend on Monday, October 28th, NASDAQ reports. Shareholders of record on Friday, November 8th will be paid a dividend of 0.3225 per share by the pipeline company on Tuesday, November 19th. This represents a $1.29 annualized dividend and a yield of 7.40%. The ex-dividend date is Friday, November 8th.

Energy Transfer has increased its dividend payment by an average of 5.0% per year over the last three years. Energy Transfer has a payout ratio of 86.0% 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 $1.49 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 86.6%.

Energy Transfer Trading Up 3.1 %

Shares of ET opened at $17.43 on Thursday. Energy Transfer has a 12-month low of $13.01 and a 12-month high of $17.50. The firm has a market capitalization of $59.63 billion, a P/E ratio of 14.64, a P/E/G ratio of 0.50 and a beta of 1.66. The firm has a 50-day moving average price of $16.25 and a 200 day moving average price of $16.03. The company has a current ratio of 1.14, a quick ratio of 0.92 and a debt-to-equity ratio of 1.38.

Energy Transfer (NYSE:ET) last posted its quarterly earnings results on Wednesday, August 7th. The pipeline company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.01). The firm had revenue of $20.73 billion during the quarter, compared to analysts’ expectations of $22.01 billion. Energy Transfer had a net margin of 5.19% and a return on equity of 12.74%. The business’s quarterly revenue was up 13.1% on a year-over-year basis. During the same period last year, the company earned $0.25 EPS. Sell-side analysts forecast that Energy Transfer will post 1.35 EPS for the current year.

Insider Activity

In other news, CEO Thomas E. Long purchased 20,000 shares of the stock in a transaction on Monday, August 12th. The stock was bought at an average price of $15.68 per share, for a total transaction of $313,600.00. Following the acquisition, the chief executive officer now directly owns 4,308,859 shares of the company’s stock, valued at approximately $67,562,909.12. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Energy Transfer news, CEO Thomas E. Long purchased 20,000 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was bought at an average cost of $15.68 per share, with a total value of $313,600.00. Following the acquisition, the chief executive officer now directly owns 4,308,859 shares of the company’s stock, valued at approximately $67,562,909.12. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kelcy L. Warren acquired 3,000,000 shares of the stock in a transaction dated Monday, August 12th. The shares were acquired at an average cost of $15.68 per share, with a total value of $47,040,000.00. Following the completion of the transaction, the director now owns 123,385,650 shares in the company, valued at approximately $1,934,686,992. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 3,040,000 shares of company stock worth $47,667,200. 3.28% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on ET shares. Bank of America initiated coverage on shares of Energy Transfer in a report on Thursday, October 17th. They issued a “buy” rating and a $20.00 price objective on the stock. UBS Group boosted their price target on shares of Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Finally, Royal Bank of Canada raised their price objective on shares of Energy Transfer from $19.00 to $20.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Eight analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $20.00.

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.