Energy Transfer LP (NYSE:ET) Plans Dividend Increase – $0.32 Per Share

Energy Transfer LP (NYSE:ET) declared a quarterly dividend on Wednesday, April 24th, Zacks reports. Investors of record on Monday, May 13th will be given a dividend of 0.317 per share by the pipeline company on Monday, May 20th. This represents a $1.27 dividend on an annualized basis and a dividend yield of 7.81%. The ex-dividend date of this dividend is Friday, May 10th. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32.

Energy Transfer has raised its dividend by an average of 5.0% per year over the last three years and has increased its dividend every year for the last 3 years. Energy Transfer has a dividend payout ratio of 74.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect Energy Transfer to earn $1.59 per share next year, which means the company should continue to be able to cover its $1.27 annual dividend with an expected future payout ratio of 79.9%.

Energy Transfer Stock Up 0.7 %

Shares of NYSE:ET opened at $16.25 on Thursday. The firm has a market cap of $54.74 billion, a P/E ratio of 14.90 and a beta of 1.63. The business’s 50 day simple moving average is $15.52 and its two-hundred day simple moving average is $14.43. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.88 and a current ratio of 1.10. Energy Transfer has a 52-week low of $12.18 and a 52-week high of $16.27.

Energy Transfer (NYSE:ET) last issued its quarterly earnings data on Wednesday, February 14th. The pipeline company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.08. Energy Transfer had a return on equity of 12.17% and a net margin of 4.85%. The firm had revenue of $20.53 billion during the quarter, compared to analyst estimates of $21.46 billion. During the same period in the previous year, the company posted $0.34 EPS. The company’s revenue for the quarter was up .2% on a year-over-year basis. As a group, research analysts forecast that Energy Transfer will post 1.56 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. UBS Group dropped their price objective on Energy Transfer from $23.00 to $22.00 and set a “buy” rating on the stock in a research note on Thursday, February 15th. Citigroup lifted their price objective on Energy Transfer from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. Finally, Mizuho reissued a “buy” rating and issued a $19.00 price target (up previously from $18.00) on shares of Energy Transfer in a report on Thursday, April 18th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, Energy Transfer has a consensus rating of “Moderate Buy” and an average target price of $18.00.

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.