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

Energy Transfer LP (NYSE:ET) announced a dividend on Monday, October 28th, NASDAQ reports. Investors of record on Friday, November 8th will be given a dividend of 0.3225 per share by the pipeline company on Tuesday, November 19th. The ex-dividend date of this dividend is Friday, November 8th.

Energy Transfer has raised its dividend payment by an average of 5.0% per year over the last three years. Energy Transfer has a payout ratio of 85.3% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. 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 $1.28 annual dividend with an expected future payout ratio of 85.9%.

Energy Transfer Stock Down 0.2 %

Energy Transfer stock traded down $0.02 during midday trading on Tuesday, hitting $16.38. 12,035,714 shares of the stock were exchanged, compared to its average volume of 13,026,942. The company has a 50 day moving average price of $16.16 and a two-hundred day moving average price of $15.97. The firm has a market cap of $55.18 billion, a P/E ratio of 15.03, a P/E/G ratio of 0.49 and a beta of 1.66. Energy Transfer has a 1 year low of $12.90 and a 1 year high of $16.64. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.14 and a quick ratio of 0.92.

Energy Transfer (NYSE:ET) last released its earnings results on Wednesday, August 7th. The pipeline company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.01). The company had revenue of $20.73 billion during the quarter, compared to the consensus estimate of $22.01 billion. Energy Transfer had a return on equity of 12.74% and a net margin of 5.19%. Energy Transfer’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.25 EPS. On average, sell-side analysts predict that Energy Transfer will post 1.35 earnings per share for the current fiscal year.

Insider Buying and Selling at Energy Transfer

In other news, Director Kelcy L. Warren bought 3,000,000 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was purchased at an average price of $15.68 per share, for a total transaction of $47,040,000.00. Following the transaction, 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 purchase was disclosed in a filing with the SEC, which is accessible through this link. In related news, EVP Gregory G. Mcilwain acquired 20,000 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was acquired at an average cost of $15.68 per share, for a total transaction of $313,600.00. Following the completion of the acquisition, the executive vice president now directly owns 591,211 shares of the company’s stock, valued at approximately $9,270,188.48. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Kelcy L. Warren acquired 3,000,000 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was bought at an average price of $15.68 per share, with a total value of $47,040,000.00. Following the completion of the acquisition, the director now directly owns 123,385,650 shares of the company’s stock, valued at approximately $1,934,686,992. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 3,040,000 shares of company stock valued at $47,667,200 in the last ninety days. Company insiders own 3.28% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. UBS Group boosted their target price on shares of Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Royal Bank of Canada lifted their price target 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. Finally, Bank of America began coverage on shares of Energy Transfer in a report on Thursday, October 17th. They issued a “buy” rating and a $20.00 price target for the company. Eight analysts have rated the stock with a buy rating, According to MarketBeat, Energy Transfer presently has a consensus rating of “Buy” and a consensus target price 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.