Energy Transfer LP (NYSE:ET) Increases Dividend to $0.32 Per Share

Energy Transfer LP (NYSE:ET - Get Free Report) announced a quarterly dividend on Wednesday, April 24th, Zacks reports. Shareholders of record on Monday, May 13th will be paid a dividend of 0.317 per share by the pipeline company on Monday, May 20th. This represents a $1.27 annualized dividend and a dividend yield of 7.95%. The ex-dividend date of this dividend is Friday, May 10th. This is a positive change 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 annually for the last 3 consecutive years. Energy Transfer has a dividend 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 Trading Up 0.5 %

Shares of ET traded up $0.08 on Thursday, hitting $15.95. 8,259,029 shares of the stock traded hands, compared to its average volume of 12,370,161. The company has a quick ratio of 0.88, a current ratio of 1.10 and a debt-to-equity ratio of 1.37. The firm has a market capitalization of $53.72 billion, a P/E ratio of 14.63 and a beta of 1.64. The stock's 50 day moving average is $15.33 and its two-hundred day moving average is $14.31. Energy Transfer has a 1 year low of $12.18 and a 1 year high of $16.04.

Energy Transfer (NYSE:ET - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $20.53 billion for the quarter, compared to the consensus estimate of $21.46 billion. Energy Transfer had a net margin of 4.85% and a return on equity of 12.17%. The company's quarterly revenue was up .2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.34 earnings per share. As a group, sell-side analysts predict that Energy Transfer will post 1.46 earnings per share for the current year.

Wall Street Analyst Weigh In

ET has been the topic of several recent analyst reports. UBS Group reduced their price objective on shares of Energy Transfer from $23.00 to $22.00 and set a "buy" rating on the stock in a research note on Thursday, February 15th. Citigroup upped their price target on shares of Energy Transfer from $17.00 to $18.00 and gave the stock a "buy" rating in a research report on Wednesday, February 21st. Finally, Mizuho reaffirmed a "buy" rating and set a $19.00 price target (up previously from $18.00) on shares of Energy Transfer in a research report on Thursday, April 18th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $18.00.

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.