Energy Transfer (NYSE:ET) Issues Quarterly Earnings Results

Energy Transfer (NYSE:ET) posted its earnings results on Tuesday. The pipeline company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 Trading Down 1.2 %

ET traded down $0.25 during trading on Tuesday, reaching $19.84. 15,518,312 shares of the company’s stock were exchanged, compared to its average volume of 17,512,035. The company has a current ratio of 1.08, a quick ratio of 0.88 and a debt-to-equity ratio of 1.40. Energy Transfer has a one year low of $13.94 and a one year high of $21.45. The stock has a market capitalization of $67.93 billion, a PE ratio of 14.59, a price-to-earnings-growth ratio of 0.52 and a beta of 1.69. The firm has a fifty day moving average price of $19.72 and a two-hundred day moving average price of $17.68.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th will be issued a dividend of $0.325 per share. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.30 annualized dividend and a dividend yield of 6.55%. The ex-dividend date of this dividend is Friday, February 7th. Energy Transfer’s payout ratio is 94.85%.

Wall Street Analysts Forecast Growth

ET has been the topic of several recent analyst reports. Wells Fargo & Company boosted their target price on Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. The Goldman Sachs Group boosted their price objective on Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a research note on Thursday, December 19th. Royal Bank of Canada raised their target price on Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. 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 target on the stock. Finally, Barclays raised their price objective on shares of Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, Energy Transfer has an average rating of “Moderate Buy” and an average price target of $20.82.

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.