Energy Transfer LP (NYSE:ET) to Issue Dividend Increase - $0.33 Per Share

Energy Transfer LP (NYSE:ET - Get Free Report) announced a quarterly dividend on Thursday, July 24th, RTT News reports. Investors of record on Friday, August 8th will be given a dividend of 0.33 per share by the pipeline company on Tuesday, August 19th. This represents a $1.32 dividend on an annualized basis and a yield of 7.45%. The ex-dividend date of this dividend is Friday, August 8th. This is a 0.8% increase from Energy Transfer's previous quarterly dividend of $0.33.

Energy Transfer has a payout ratio of 84.0% indicating that its dividend is currently covered by earnings, but may not be in the future if the company's earnings tumble. Equities research analysts expect Energy Transfer to earn $1.52 per share next year, which means the company should continue to be able to cover its $1.31 annual dividend with an expected future payout ratio of 86.2%.

Energy Transfer Stock Performance

NYSE ET traded up $0.01 during trading hours on Friday, reaching $17.73. 10,426,534 shares of the company were exchanged, compared to its average volume of 11,398,178. Energy Transfer has a 1 year low of $14.60 and a 1 year high of $21.45. The business's 50 day simple moving average is $17.79 and its 200-day simple moving average is $18.27. The company has a quick ratio of 0.92, a current ratio of 1.12 and a debt-to-equity ratio of 1.41. The stock has a market capitalization of $60.83 billion, a P/E ratio of 13.43, a P/E/G ratio of 0.92 and a beta of 0.79.

Energy Transfer (NYSE:ET - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The pipeline company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.03. The company had revenue of $21.02 billion for the quarter, compared to analyst estimates of $22.28 billion. Energy Transfer had a net margin of 5.88% and a return on equity of 11.47%. The company's quarterly revenue was down 2.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.32 earnings per share. On average, equities research analysts expect that Energy Transfer will post 1.46 earnings per share for the current year.

Insider Activity at Energy Transfer

In related news, Director James Richard Perry sold 1,369 shares of Energy Transfer stock in a transaction on Friday, June 13th. The shares were sold at an average price of $18.48, for a total value of $25,299.12. Following the transaction, the director directly owned 24,523 shares of the company's stock, valued at $453,185.04. The trade was a 5.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 3.28% of the company's stock.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Energy Transfer stock. Brighton Jones LLC increased its position in Energy Transfer LP (NYSE:ET - Free Report) by 93.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 24,530 shares of the pipeline company's stock after buying an additional 11,844 shares during the quarter. Brighton Jones LLC's holdings in Energy Transfer were worth $481,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors own 38.22% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently commented on ET. JPMorgan Chase & Co. dropped their price target on shares of Energy Transfer from $25.00 to $23.00 and set an "overweight" rating on the stock in a research note on Monday, May 19th. Mizuho raised their price objective on shares of Energy Transfer from $22.00 to $23.00 and gave the company an "outperform" rating in a research report on Tuesday, May 20th. TD Cowen assumed coverage on shares of Energy Transfer in a research report on Monday, July 7th. They issued a "buy" rating and a $22.00 price objective for the company. Wells Fargo & Company cut their price objective on shares of Energy Transfer from $22.00 to $21.00 and set an "overweight" rating for the company in a research report on Wednesday, May 7th. Finally, Cowen assumed coverage on shares of Energy Transfer in a research report on Monday, July 7th. They issued a "buy" rating for the company. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, Energy Transfer has an average rating of "Moderate Buy" and an average target price of $22.58.

Energy Transfer Company Profile

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.