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

Energy Transfer LP (NYSE:ET) announced a dividend on Monday, October 28th, NASDAQ reports. Stockholders of record on Friday, November 8th will be paid 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% annually over the last three years. Energy Transfer has a dividend 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 fall. Equities 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 Price Performance

Shares of ET stock traded down $0.02 during trading hours on Tuesday, reaching $16.38. The stock had a trading volume of 12,035,714 shares, compared to its average volume of 13,026,942. The stock’s fifty day simple moving average is $16.16 and its 200 day simple moving average is $15.97. The firm has a market capitalization of $55.18 billion, a PE ratio of 15.03, a PEG ratio of 0.49 and a beta of 1.66. Energy Transfer has a 12 month low of $12.90 and a 12 month high of $16.64. 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 (NYSE:ET) last posted its earnings results on Wednesday, August 7th. The pipeline company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.01). The business had revenue of $20.73 billion for the quarter, compared to analysts’ expectations of $22.01 billion. Energy Transfer had a return on equity of 12.74% and a net margin of 5.19%. Energy Transfer’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.25 earnings per share. On average, equities research analysts predict that Energy Transfer will post 1.35 EPS for the current year.

Analyst Ratings Changes

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

Insider Activity at Energy Transfer

In other news, Director Kelcy L. Warren bought 3,000,000 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was purchased at an average price of $15.68 per share, with a total value of $47,040,000.00. Following the transaction, the director now owns 123,385,650 shares of the company’s stock, valued at approximately $1,934,686,992. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Energy Transfer news, Director Kelcy L. Warren purchased 3,000,000 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was bought at an average cost of $15.68 per share, with a total value of $47,040,000.00. Following the transaction, the director now directly owns 123,385,650 shares in the company, valued at approximately $1,934,686,992. The trade was a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Gregory G. Mcilwain acquired 20,000 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was acquired at an average price of $15.68 per share, for a total transaction of $313,600.00. Following the acquisition, the executive vice president now owns 591,211 shares of the company’s stock, valued at approximately $9,270,188.48. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 3,040,000 shares of company stock worth $47,667,200 over the last 90 days. 3.28% of the stock is owned by company insiders.

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.