Energy Transfer LP (ET) to Issue Quarterly Dividend of $0.32 on May 20th

Energy Transfer LP (NYSE:ET) announced a quarterly dividend on Wednesday, April 24th, Zacks reports. Stockholders 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 7.95%. The ex-dividend date is Friday, May 10th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32.

Energy Transfer has raised its dividend payment by an average of 5.0% per year over the last three years and has raised its dividend every year for the last 3 years. Energy Transfer has a dividend payout ratio of 74.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Energy Transfer to earn $1.58 per share next year, which means the company should continue to be able to cover its $1.26 annual dividend with an expected future payout ratio of 79.7%.

Energy Transfer Price Performance

ET stock opened at $15.95 on Friday. 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 1 year low of $12.18 and a 1 year high of $16.04. The firm has a market cap of $53.72 billion, a P/E ratio of 14.63 and a beta of 1.64. The stock has a 50-day simple moving average of $15.33 and a 200-day simple moving average of $14.31.

Energy Transfer (NYSE:ET) last posted its earnings results on Wednesday, February 14th. The pipeline company reported $0.37 earnings per share (EPS) for the quarter, beating 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 business had revenue of $20.53 billion during the quarter, compared to analyst estimates of $21.46 billion. During the same quarter last year, the firm earned $0.34 earnings per share. The company’s revenue for the quarter was up .2% compared to the same quarter last year. On average, equities analysts predict that Energy Transfer will post 1.48 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on ET shares. Citigroup raised 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. UBS Group lowered their price objective on Energy Transfer from $23.00 to $22.00 and set a “buy” rating for the company in a research note on Thursday, February 15th. Finally, Mizuho restated a “buy” rating and set a $19.00 price objective (up previously from $18.00) on shares of Energy Transfer in a research note on Thursday, April 18th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Energy Transfer has an average rating of “Moderate Buy” and a consensus target price of $18.00.

About Energy Transfer

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.