Energy Transfer LP (ET) to Issue Quarterly Dividend of $0.34 on February 19th

Energy Transfer LP (NYSE:ET) declared a quarterly dividend on Tuesday, January 27th. Shareholders of record on Friday, February 6th will be given a dividend of 0.335 per share by the pipeline company on Thursday, February 19th. This represents a c) dividend on an annualized basis and a yield of 7.3%. The ex-dividend date is Friday, February 6th. This is a 0.8% increase from Energy Transfer’s previous quarterly dividend of $0.33.

Energy Transfer has raised its dividend by an average of 0.0%annually over the last three years and has increased its dividend annually for the last 4 consecutive years. Energy Transfer has a dividend payout ratio of 85.3% 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 $1.52 per share next year, which means the company should continue to be able to cover its $1.33 annual dividend with an expected future payout ratio of 87.5%.

Energy Transfer Price Performance

Shares of NYSE:ET opened at $18.25 on Thursday. The firm’s 50 day moving average is $16.81 and its two-hundred day moving average is $17.07. The firm has a market capitalization of $62.64 billion, a P/E ratio of 14.60, a PEG ratio of 0.94 and a beta of 0.66. The company has a current ratio of 1.41, a quick ratio of 1.14 and a debt-to-equity ratio of 1.50. Energy Transfer has a 52 week low of $14.60 and a 52 week high of $21.16.

Energy Transfer (NYSE:ET) last issued its quarterly earnings data on Wednesday, November 5th. The pipeline company reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.06). The business had revenue of $19.95 billion during the quarter, compared to the consensus estimate of $21.84 billion. Energy Transfer had a return on equity of 10.71% and a net margin of 5.66%.The business’s quarterly revenue was down 3.9% compared to the same quarter last year. During the same period last year, the company earned $0.32 earnings per share. Analysts anticipate that Energy Transfer will post 1.46 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have recently commented on ET shares. JPMorgan Chase & Co. lowered their price target on Energy Transfer from $22.00 to $21.00 and set an “overweight” rating on the stock in a report on Monday, November 24th. Weiss Ratings reissued a “buy (b-)” rating on shares of Energy Transfer in a research note on Wednesday, December 24th. UBS Group restated a “buy” rating on shares of Energy Transfer in a research report on Wednesday, January 7th. Scotiabank reiterated an “outperform” rating on shares of Energy Transfer in a research note on Friday, January 16th. Finally, Jefferies Financial Group set a $17.00 price target on Energy Transfer and gave the company a “hold” rating in a research note on Tuesday, October 28th. Twelve analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $21.50.

Energy Transfer Company Profile

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.