Energy Transfer LP (NYSE:ET) Raises Dividend to $0.20 Per Share

Energy Transfer LP (NYSE:ETGet Rating) declared a quarterly dividend on Tuesday, April 26th, Zacks reports. Shareholders of record on Monday, May 9th will be paid a dividend of 0.20 per share by the pipeline company on Thursday, May 19th. This represents a $0.80 annualized dividend and a yield of 7.12%. The ex-dividend date is Friday, May 6th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.18.

Energy Transfer has decreased its dividend payment by an average of 20.6% per year over the last three years and has raised its dividend every year for the last 1 years. Energy Transfer has a payout ratio of 51.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Energy Transfer to earn $1.08 per share next year, which means the company should continue to be able to cover its $0.70 annual dividend with an expected future payout ratio of 64.8%.

Shares of NYSE:ET traded down $0.03 during midday trading on Wednesday, hitting $11.24. The stock had a trading volume of 42,590 shares, compared to its average volume of 22,590,586. The company has a market capitalization of $35.76 billion, a PE ratio of 5.93 and a beta of 2.08. The stock has a 50 day moving average price of $10.64 and a two-hundred day moving average price of $9.72. The company has a current ratio of 0.97, a quick ratio of 0.79 and a debt-to-equity ratio of 1.47. Energy Transfer has a 1 year low of $7.96 and a 1 year high of $12.08.

Energy Transfer (NYSE:ETGet Rating) last announced its earnings results on Wednesday, February 16th. The pipeline company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.03. The company had revenue of $18.66 billion during the quarter, compared to analysts’ expectations of $16.62 billion. Energy Transfer had a net margin of 7.82% and a return on equity of 16.03%. The firm’s quarterly revenue was up 85.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.19 earnings per share. As a group, equities analysts expect that Energy Transfer will post 1.02 EPS for the current year.

In related news, Director Michael K. Grimm bought 504,600 shares of the firm’s stock in a transaction that occurred on Wednesday, April 6th. The stock was purchased at an average price of $11.21 per share, for a total transaction of $5,656,566.00. Following the transaction, the director now directly owns 181,089 shares of the company’s stock, valued at approximately $2,030,007.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 3.28% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Wealthsource Partners LLC boosted its position in shares of Energy Transfer by 80.2% during the 4th quarter. Wealthsource Partners LLC now owns 37,259 shares of the pipeline company’s stock valued at $307,000 after purchasing an additional 16,586 shares in the last quarter. NewEdge Advisors LLC boosted its position in shares of Energy Transfer by 338.2% during the 4th quarter. NewEdge Advisors LLC now owns 134,514 shares of the pipeline company’s stock valued at $1,107,000 after purchasing an additional 103,817 shares in the last quarter. Titleist Asset Management LTD. bought a new position in shares of Energy Transfer during the 4th quarter valued at about $91,000. Zullo Investment Group Inc. bought a new position in shares of Energy Transfer during the 4th quarter valued at about $54,000. Finally, The Manufacturers Life Insurance Company lifted its stake in Energy Transfer by 15.8% during the fourth quarter. The Manufacturers Life Insurance Company now owns 56,224 shares of the pipeline company’s stock valued at $463,000 after buying an additional 7,671 shares in the last quarter. Institutional investors own 39.62% of the company’s stock.

A number of equities research analysts recently issued reports on ET shares. Zacks Investment Research upgraded shares of Energy Transfer from a “hold” rating to a “strong-buy” rating and set a $13.00 target price for the company in a report on Wednesday, March 30th. Barclays decreased their target price on shares of Energy Transfer from $14.00 to $13.00 in a research note on Thursday, January 20th. Morgan Stanley upped their target price on shares of Energy Transfer from $12.00 to $15.00 and gave the company an “overweight” rating in a research note on Tuesday. Royal Bank of Canada upped their price target on shares of Energy Transfer from $9.00 to $14.00 and gave the company an “outperform” rating in a report on Friday, January 14th. Finally, Mizuho upped their price target on shares of Energy Transfer from $13.00 to $14.00 in a report on Friday, February 18th. Ten analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $13.91.

About Energy Transfer (Get Rating)

Energy Transfer LP provides energy-related services. The company owns and operates approximately 11,600 miles of natural gas transportation pipeline, and three natural gas storage facilities in Texas and two natural gas storage facilities located in the state of Texas and Oklahoma; and 19,830 miles of interstate natural gas pipeline.

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Dividend History for Energy Transfer (NYSE:ET)

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