Energy Transfer LP (NYSE:ET) to Issue Quarterly Dividend of $0.33

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

Energy Transfer has a dividend 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 decline. Equities 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

Shares of Energy Transfer stock traded up $0.01 during trading on Friday, hitting $17.73. 10,391,644 shares of the stock were exchanged, compared to its average volume of 15,625,710. The stock has a market capitalization of $60.83 billion, a price-to-earnings ratio of 13.43, a price-to-earnings-growth ratio of 0.90 and a beta of 0.79. The company has a fifty day moving average price of $17.79 and a 200-day moving average price of $18.30. Energy Transfer has a 1-year low of $14.60 and a 1-year high of $21.45. The company has a current ratio of 1.12, a quick ratio of 0.92 and a debt-to-equity ratio of 1.41.

Energy Transfer (NYSE:ET - Get Free Report) last announced its earnings results on Tuesday, May 6th. The pipeline company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.33 by $0.03. The business had revenue of $21.02 billion during the quarter, compared to the consensus estimate of $22.28 billion. Energy Transfer had a net margin of 5.88% and a return on equity of 11.47%. Energy Transfer's 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 EPS. As a group, equities analysts predict that Energy Transfer will post 1.46 EPS for the current fiscal year.

Insider Transactions at Energy Transfer

In other Energy Transfer news, Director James Richard Perry sold 1,369 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the director directly owned 24,523 shares in the company, valued at approximately $453,185.04. This represents a 5.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 3.28% of the company's stock.

Hedge Funds Weigh In On Energy Transfer

An institutional investor recently raised its position in Energy Transfer stock. AQR Capital Management LLC boosted its stake in Energy Transfer LP (NYSE:ET - Free Report) by 62.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 21,041 shares of the pipeline company's stock after purchasing an additional 8,118 shares during the quarter. AQR Capital Management LLC's holdings in Energy Transfer were worth $391,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 38.22% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ET. Mizuho boosted their price objective on shares of Energy Transfer from $22.00 to $23.00 and gave the company an "outperform" rating in a report on Tuesday, May 20th. 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 report on Wednesday, May 7th. Cowen assumed coverage on shares of Energy Transfer in a report on Monday, July 7th. They issued a "buy" rating for the company. JPMorgan Chase & Co. cut their price target on shares of Energy Transfer from $25.00 to $23.00 and set an "overweight" rating for the company in a report on Monday, May 19th. Finally, TD Cowen assumed coverage on shares of Energy Transfer in a report on Monday, July 7th. They set a "buy" rating and a $22.00 price target for the company. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, Energy Transfer currently has an average rating of "Moderate Buy" and a consensus price target 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.