Energy Transfer (NYSE:ET) Releases Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Energy Transfer (NYSE:ET - Get Free Report) released its quarterly earnings results on Tuesday. The pipeline company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.33 by $0.03, Zacks reports. The business had revenue of $21.02 billion during the quarter, compared to analyst estimates of $22.28 billion. Energy Transfer had a return on equity of 11.56% and a net margin of 5.74%. The company's quarterly revenue was down 2.8% on a year-over-year basis. During the same period last year, the business posted $0.32 earnings per share.

Energy Transfer Price Performance

ET stock traded up $0.52 during trading on Thursday, reaching $17.41. 23,086,456 shares of the company were exchanged, compared to its average volume of 15,531,396. The stock's 50 day moving average price is $17.52 and its 200 day moving average price is $18.48. The company has a market cap of $59.72 billion, a P/E ratio of 13.60, a PEG ratio of 0.64 and a beta of 0.77. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.88 and a current ratio of 1.12. Energy Transfer has a 52-week low of $14.60 and a 52-week high of $21.45.

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 20th. Investors of record on Friday, May 9th will be issued a dividend of $0.3275 per share. This represents a $1.31 dividend on an annualized basis and a yield of 7.53%. The ex-dividend date is Friday, May 9th. This is a positive change from Energy Transfer's previous quarterly dividend of $0.33. Energy Transfer's dividend payout ratio is currently 102.34%.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Energy Transfer stock. Brighton Jones LLC lifted its position in shares of Energy Transfer LP (NYSE:ET - Free Report) by 93.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor 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 at the end of the most recent quarter. 38.22% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on ET shares. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $23.00 price target on shares of Energy Transfer in a research report on Tuesday, March 25th. Citigroup reissued a "buy" rating on shares of Energy Transfer in a report on Monday, March 24th. Barclays upped their target price on shares of Energy Transfer from $22.00 to $25.00 and gave the company an "overweight" rating in a report on Monday, January 13th. Stifel Nicolaus boosted their price target on shares of Energy Transfer from $21.00 to $23.00 and gave the company a "buy" rating in a research report on Wednesday, February 12th. Finally, Morgan Stanley upped their price objective on shares of Energy Transfer from $20.00 to $26.00 and gave the company an "overweight" rating in a research note on Tuesday, March 25th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $22.09.

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.