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

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

Energy Transfer has raised its dividend by an average of 5.0% annually over the last three years and has raised its dividend every year for the last 3 years. Energy Transfer has a payout ratio of 74.7% indicating that its dividend is sufficiently covered by earnings. 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 Performance

Shares of ET stock opened at $16.25 on Thursday. The stock has a market cap of $54.74 billion, a PE ratio of 14.90 and a beta of 1.63. Energy Transfer has a 52-week low of $12.18 and a 52-week high of $16.27. The business has a 50-day simple moving average of $15.52 and a 200-day simple moving average of $14.43. The company has a quick ratio of 0.88, a current ratio of 1.10 and a debt-to-equity ratio of 1.37.

Energy Transfer (NYSE:ET) last issued its quarterly earnings data on Wednesday, February 14th. The pipeline company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.29 by $0.08. Energy Transfer had a return on equity of 12.17% and a net margin of 4.85%. The company had revenue of $20.53 billion for the quarter, compared to analyst estimates of $21.46 billion. During the same period last year, the company earned $0.34 earnings per share. Energy Transfer’s quarterly revenue was up .2% compared to the same quarter last year. On average, equities analysts expect that Energy Transfer will post 1.56 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on ET shares. Citigroup lifted their price target on Energy Transfer from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. UBS Group reduced their target price on shares of Energy Transfer from $23.00 to $22.00 and set a “buy” rating for the company in a research report on Thursday, February 15th. Finally, Mizuho reaffirmed 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 investment 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, the stock currently has an average rating of “Moderate Buy” and an average price target 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.