Energy Transfer LP Plans Quarterly Dividend of $0.32 (NYSE:ET)

Energy Transfer LP (NYSE:ET) announced a quarterly dividend on Monday, October 28th, NASDAQ reports. Stockholders of record on Friday, November 8th will be given a dividend of 0.3225 per share by the pipeline company on Tuesday, November 19th. This represents a $1.29 dividend on an annualized basis and a dividend yield of 7.40%. The ex-dividend date is Friday, November 8th.

Energy Transfer has increased its dividend by an average of 5.0% per year over the last three years. Energy Transfer has a payout ratio of 86.0% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Research analysts expect Energy Transfer to earn $1.49 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 86.6%.

Energy Transfer Price Performance

Shares of NYSE ET opened at $17.43 on Thursday. The stock has a market cap of $59.63 billion, a P/E ratio of 14.64, a P/E/G ratio of 0.50 and a beta of 1.66. The stock has a 50 day moving average of $16.25 and a two-hundred day moving average of $16.03. The company has a current ratio of 1.14, a quick ratio of 0.92 and a debt-to-equity ratio of 1.38. Energy Transfer has a twelve month low of $13.01 and a twelve month high of $17.50.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data on Wednesday, August 7th. The pipeline company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). Energy Transfer had a return on equity of 12.74% and a net margin of 5.19%. The company had revenue of $20.73 billion for the quarter, compared to analyst estimates of $22.01 billion. During the same period in the previous year, the business posted $0.25 earnings per share. The firm’s revenue was up 13.1% compared to the same quarter last year. On average, research analysts forecast that Energy Transfer will post 1.35 earnings per share for the current year.

Insider Activity at Energy Transfer

In other news, CEO Thomas E. Long bought 20,000 shares of the stock in a transaction on Monday, August 12th. The stock was purchased at an average cost of $15.68 per share, with a total value of $313,600.00. Following the purchase, the chief executive officer now owns 4,308,859 shares of the company’s stock, valued at approximately $67,562,909.12. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. In other Energy Transfer news, CEO Thomas E. Long bought 20,000 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was purchased at an average cost of $15.68 per share, for a total transaction of $313,600.00. Following the completion of the purchase, the chief executive officer now owns 4,308,859 shares of the company’s stock, valued at $67,562,909.12. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kelcy L. Warren acquired 3,000,000 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were bought at an average price of $15.68 per share, for a total transaction of $47,040,000.00. Following the completion of the acquisition, the director now owns 123,385,650 shares in the company, valued at approximately $1,934,686,992. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 3,040,000 shares of company stock valued at $47,667,200. Company insiders own 3.28% of the company’s stock.

Analyst Upgrades and Downgrades

ET has been the topic of several analyst reports. Royal Bank of Canada lifted their target price on shares of Energy Transfer from $19.00 to $20.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. UBS Group lifted their price target on Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Finally, Bank of America assumed coverage on Energy Transfer in a research note on Thursday, October 17th. They issued a “buy” rating and a $20.00 target price on the stock. Eight analysts have rated the stock with a buy rating, According to MarketBeat, Energy Transfer has a consensus rating of “Buy” and a consensus price target of $20.00.

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.