Energy Transfer LP (NYSE:ET) Raises Dividend to $0.32 Per Share

Energy Transfer LP (NYSE:ET) announced a quarterly dividend on Friday, July 26th, Wall Street Journal reports. Investors of record on Friday, August 9th will be paid a dividend of 0.32 per share by the pipeline company on Monday, August 19th. This represents a $1.28 annualized dividend and a yield of 7.87%. The ex-dividend date of this dividend is Friday, August 9th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32.

Energy Transfer has increased its dividend payment by an average of 5.0% annually over the last three years. Energy Transfer has a payout ratio of 79.4% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities research analysts expect Energy Transfer to earn $1.65 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 77.0%.

Energy Transfer Trading Up 0.9 %

ET stock traded up $0.14 during midday trading on Friday, hitting $16.27. The stock had a trading volume of 22,011,986 shares, compared to its average volume of 12,707,905. The company has a current ratio of 1.18, a quick ratio of 1.00 and a debt-to-equity ratio of 1.37. The business has a fifty day moving average price of $15.87 and a two-hundred day moving average price of $15.33. Energy Transfer has a 1-year low of $12.46 and a 1-year high of $16.50. The firm has a market cap of $54.83 billion, a P/E ratio of 14.79, a price-to-earnings-growth ratio of 0.44 and a beta of 1.66.

Energy Transfer (NYSE:ET) last announced its earnings results on Wednesday, May 8th. The pipeline company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.04). Energy Transfer had a net margin of 4.85% and a return on equity of 12.22%. The business had revenue of $21.63 billion for the quarter, compared to the consensus estimate of $20.91 billion. During the same quarter in the previous year, the company earned $0.32 EPS. The firm’s revenue for the quarter was up 13.9% on a year-over-year basis. On average, sell-side analysts predict that Energy Transfer will post 1.46 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Mizuho boosted their target price on shares of Energy Transfer from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, June 18th. Morgan Stanley increased their price objective on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a research report on Monday, June 10th. Stifel Nicolaus boosted their target price on Energy Transfer from $18.00 to $19.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. JPMorgan Chase & Co. increased their price target on Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Thursday, June 20th. Finally, UBS Group boosted their price objective on Energy Transfer from $23.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, May 15th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $19.29.

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.