Energy Transfer LP (NYSE:ET) to Issue Quarterly Dividend of $0.32

Energy Transfer LP (NYSE:ET) declared a quarterly dividend on Wednesday, April 24th, Zacks reports. Shareholders 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 yield of 8.01%. The ex-dividend date 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 raised its dividend every year for the last 3 years. Energy Transfer has a payout ratio of 74.6% indicating that 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 Stock Down 0.3 %

ET stock opened at $15.83 on Thursday. The business has a 50-day moving average of $15.30 and a 200-day moving average of $14.30. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.10 and a quick ratio of 0.88. The stock has a market capitalization of $53.34 billion, a P/E ratio of 14.56 and a beta of 1.64. Energy Transfer has a fifty-two week low of $12.18 and a fifty-two week high of $16.04.

Energy Transfer (NYSE:ET) last issued its quarterly earnings results on Wednesday, February 14th. The pipeline company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.08. The firm had revenue of $20.53 billion for the quarter, compared to analyst estimates of $21.46 billion. Energy Transfer had a net margin of 4.85% and a return on equity of 12.17%. The company’s revenue was up .2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.34 EPS. On average, sell-side analysts anticipate that Energy Transfer will post 1.46 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on ET shares. UBS Group decreased their price target 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. Mizuho reaffirmed a “buy” rating and set a $19.00 price target (up from $18.00) on shares of Energy Transfer in a research report on Thursday, April 18th. Finally, Citigroup boosted their price objective on shares of Energy Transfer from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock presently 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.