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

Energy Transfer LP (NYSE:ET - Get Free Report) announced a quarterly dividend on Monday, January 27th,Wall Street Journal reports. Stockholders of record on Friday, February 7th will be given a dividend of 0.325 per share by the pipeline company on Wednesday, February 19th. This represents a $1.30 annualized dividend and a dividend yield of 6.34%. The ex-dividend date is Friday, February 7th. This is an increase from Energy Transfer's previous quarterly dividend of $0.32.

Energy Transfer has increased its dividend payment by an average of 27.9% annually over the last three years. Energy Transfer has a payout ratio of 82.2% meaning its dividend is currently covered by earnings, but may not be in the future if the company's earnings tumble. Analysts expect Energy Transfer to earn $1.45 per share next year, which means the company should continue to be able to cover its $1.29 annual dividend with an expected future payout ratio of 89.0%.

Energy Transfer Stock Performance

ET traded down $0.59 during trading on Friday, hitting $20.50. 14,472,858 shares of the stock were exchanged, compared to its average volume of 17,910,209. The company has a quick ratio of 0.88, a current ratio of 1.08 and a debt-to-equity ratio of 1.40. Energy Transfer has a 1-year low of $13.79 and a 1-year high of $21.45. The stock has a fifty day moving average price of $19.57 and a two-hundred day moving average price of $17.46. The firm has a market capitalization of $70.17 billion, a P/E ratio of 15.06, a PEG ratio of 0.54 and a beta of 1.70.

Energy Transfer (NYSE:ET - Get Free Report) last announced its earnings results on Wednesday, November 6th. The pipeline company reported $0.32 EPS for the quarter, meeting analysts' consensus estimates of $0.32. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The business had revenue of $20.77 billion for the quarter, compared to analysts' expectations of $21.59 billion. During the same period in the previous year, the company posted $0.31 EPS. The company's quarterly revenue was up .2% on a year-over-year basis. As a group, sell-side analysts predict that Energy Transfer will post 1.36 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have commented on ET shares. Wells Fargo & Company upped their price objective on shares of Energy Transfer from $20.00 to $21.00 and gave the stock an "overweight" rating in a research report on Wednesday, December 18th. Royal Bank of Canada raised their price objective on shares of Energy Transfer from $20.00 to $23.00 and gave the company an "outperform" rating in a research report on Monday, December 9th. Barclays boosted their target price on Energy Transfer from $22.00 to $25.00 and gave the stock an "overweight" rating in a research report on Monday, January 13th. Bank of America started coverage on Energy Transfer in a report on Thursday, October 17th. They issued a "buy" rating and a $20.00 price target for the company. Finally, The Goldman Sachs Group upped their target price on shares of Energy Transfer from $17.00 to $20.00 and gave the stock a "neutral" rating in a research report on Thursday, December 19th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $20.82.

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.