Energy Transfer LP (NYSE:ET) Increases Dividend to $0.34 Per Share

Energy Transfer LP (NYSE:ET - Get Free Report) declared a quarterly dividend on Monday, April 27th. Shareholders of record on Friday, May 8th will be given a dividend of 0.3375 per share by the pipeline company on Wednesday, May 20th. This represents a c) annualized dividend and a yield of 7.1%. The ex-dividend date of this dividend is Friday, May 8th. This is a 0.7% increase from Energy Transfer's previous quarterly dividend of $0.34.

Energy Transfer has increased its dividend by an average of 0.0%annually over the last three years and has raised its dividend annually for the last 4 consecutive years. Energy Transfer has a payout ratio of 85.9% meaning its dividend is currently covered by earnings, but may not be in the future if the company's earnings decline. Analysts expect Energy Transfer to earn $1.58 per share next year, which means the company should continue to be able to cover its $1.34 annual dividend with an expected future payout ratio of 84.8%.

Energy Transfer Stock Up 0.0%

Energy Transfer stock opened at $19.09 on Tuesday. The stock has a market cap of $65.66 billion, a price-to-earnings ratio of 15.77, a PEG ratio of 1.05 and a beta of 0.62. The company has a current ratio of 1.22, a quick ratio of 0.90 and a debt-to-equity ratio of 1.50. The company's 50-day moving average price is $18.93 and its two-hundred day moving average price is $17.68. Energy Transfer has a 52 week low of $15.80 and a 52 week high of $19.85.

Energy Transfer (NYSE:ET - Get Free Report) last released its earnings results on Tuesday, February 17th. The pipeline company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.09). The company had revenue of $25.32 billion for the quarter, compared to analyst estimates of $23.56 billion. Energy Transfer had a net margin of 5.11% and a return on equity of 10.17%. The firm's quarterly revenue was up 29.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.29 EPS. On average, analysts expect that Energy Transfer will post 1.5 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Barclays reaffirmed an "overweight" rating and issued a $22.00 price objective (down from $25.00) on shares of Energy Transfer in a research note on Monday, January 12th. UBS Group reaffirmed a "buy" rating on shares of Energy Transfer in a research note on Wednesday, January 7th. Truist Financial assumed coverage on shares of Energy Transfer in a research note on Tuesday, March 24th. They issued a "buy" rating and a $23.00 price objective on the stock. Morgan Stanley lifted their price objective on shares of Energy Transfer from $19.00 to $21.00 and gave the stock an "equal weight" rating in a research note on Tuesday, March 10th. Finally, Jefferies Financial Group reaffirmed a "hold" rating on shares of Energy Transfer in a research note on Wednesday, February 18th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $21.60.

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.

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