Energy Transfer LP (NYSE:ET) Raises Dividend to $0.33 Per Share

Energy Transfer LP (NYSE:ET - Get Free Report) declared a quarterly dividend on Thursday, April 24th, Wall Street Journal reports. Shareholders of record on Friday, May 9th will be given a dividend of 0.3275 per share by the pipeline company on Tuesday, May 20th. This represents a $1.31 annualized dividend and a yield of 7.51%. The ex-dividend date is Friday, May 9th. This is a 0.8% increase from Energy Transfer's previous quarterly dividend of $0.33.

Energy Transfer has raised its dividend payment by an average of 27.9% per year over the last three years. Energy Transfer has a dividend payout ratio of 84.4% 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 $1.30 annual dividend with an expected future payout ratio of 85.5%.

Energy Transfer Price Performance

Shares of Energy Transfer stock traded down $0.15 on Friday, hitting $17.44. The company had a trading volume of 9,803,675 shares, compared to its average volume of 15,240,339. Energy Transfer has a 52 week low of $14.60 and a 52 week high of $21.45. The company has a market cap of $59.84 billion, a PE ratio of 13.63, a PEG ratio of 0.64 and a beta of 1.32. The business has a 50-day simple moving average of $17.96 and a 200-day simple moving average of $18.47. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.12 and a quick ratio of 0.88.

Energy Transfer (NYSE:ET - Get Free Report) last announced its quarterly earnings data on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.06). Energy Transfer had a return on equity of 11.56% and a net margin of 5.74%. Research analysts expect that Energy Transfer will post 1.46 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have issued reports on ET shares. Citigroup restated a "buy" rating on shares of Energy Transfer in a report on Monday, March 24th. UBS Group restated a "buy" rating on shares of Energy Transfer in a research note on Tuesday, March 4th. Barclays increased their price target on shares of Energy Transfer from $22.00 to $25.00 and gave the stock an "overweight" rating in a research note on Monday, January 13th. Royal Bank of Canada reissued an "outperform" rating and issued a $23.00 price objective on shares of Energy Transfer in a research note on Tuesday, March 25th. Finally, Stifel Nicolaus lifted their target price on shares of Energy Transfer from $21.00 to $23.00 and gave the stock a "buy" rating in a report on Wednesday, February 12th. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $22.09.

Institutional Investors Weigh In On Energy Transfer

A hedge fund recently raised its stake in Energy Transfer stock. Brighton Jones LLC increased its stake 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 Form 13F filing with the Securities & Exchange Commission. The firm owned 24,530 shares of the pipeline company's stock after purchasing an additional 11,844 shares during the period. Brighton Jones LLC's holdings in Energy Transfer were worth $481,000 as of its most recent SEC filing. 38.22% of the stock is owned by institutional investors and hedge funds.

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.