Energy Transfer (NYSE:ET) Releases Quarterly Earnings Results, Misses Expectations By $0.06 EPS

Energy Transfer (NYSE:ET) announced its quarterly earnings results on Tuesday. The pipeline company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.06), Zacks reports. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%.

Energy Transfer Stock Performance

NYSE:ET traded down $0.25 on Tuesday, hitting $19.84. The stock had a trading volume of 15,418,259 shares, compared to its average volume of 17,505,439. The stock has a market cap of $67.93 billion, a price-to-earnings ratio of 14.59, a price-to-earnings-growth ratio of 0.52 and a beta of 1.69. The company has a quick ratio of 0.88, a current ratio of 1.08 and a debt-to-equity ratio of 1.40. The business’s 50-day simple moving average is $19.72 and its two-hundred day simple moving average is $17.68. Energy Transfer has a 52-week low of $13.94 and a 52-week high of $21.45.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th will be given a $0.325 dividend. This represents a $1.30 annualized dividend and a yield of 6.55%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date is Friday, February 7th. Energy Transfer’s dividend payout ratio (DPR) is presently 94.85%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Royal Bank of Canada upped their price target on Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. The Goldman Sachs Group upped their price target on Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a research report on Thursday, December 19th. 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. Bank of America began coverage on shares of Energy Transfer in a research report on Thursday, October 17th. They issued a “buy” rating and a $20.00 price objective on the stock. Finally, Barclays upped their price objective on shares of Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, Energy Transfer currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.82.

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.