Energy Transfer LP (NYSE:ET) Raises Dividend to $0.34 Per Share

Energy Transfer LP (NYSE:ET) announced a quarterly dividend on Monday, July 27th. Stockholders of record on Friday, August 7th will be paid a dividend of 0.34 per share by the pipeline company on Wednesday, August 19th. This represents a c) dividend on an annualized basis and a dividend yield of 6.8%. The ex-dividend date of this dividend is Friday, August 7th. This is a 0.7% increase from Energy Transfer’s previous quarterly dividend of $0.34.

Energy Transfer has increased its dividend payment by an average of 0.0%per year over the last three years and has raised its dividend every year for the last 4 years. Energy Transfer has a dividend payout ratio of 86.5% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Analysts expect Energy Transfer to earn $1.52 per share next year, which means the company should continue to be able to cover its $1.35 annual dividend with an expected future payout ratio of 88.8%.

Energy Transfer Stock Down 2.2%

ET stock opened at $19.91 on Tuesday. Energy Transfer has a fifty-two week low of $16.18 and a fifty-two week high of $20.70. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.17 and a quick ratio of 0.93. The stock has a market capitalization of $68.50 billion, a price-to-earnings ratio of 16.59, a PEG ratio of 1.18 and a beta of 0.55. The business’s fifty day moving average price is $19.54 and its two-hundred day moving average price is $19.02.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data on Tuesday, May 5th. The pipeline company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.05). Energy Transfer had a net margin of 4.66% and a return on equity of 9.77%. The business had revenue of $27.77 billion during the quarter, compared to the consensus estimate of $25.78 billion. During the same period in the prior year, the firm earned $0.36 EPS. The business’s revenue for the quarter was up 32.1% on a year-over-year basis. On average, equities analysts anticipate that Energy Transfer will post 1.43 earnings per share for the current year.

Energy Transfer Company Profile

Energy Transfer (NYSE: ET) is a Dallas-based midstream energy company that develops and operates infrastructure for the transportation, storage and processing of hydrocarbons. The company’s operations focus on moving and storing natural gas, natural gas liquids (NGLs), crude oil and refined products through an integrated network of pipelines, terminals, storage facilities and processing plants. Energy Transfer provides core midstream services such as gathering, compression, fractionation, processing, and bulk transportation to support production and downstream supply chains.

Its asset base spans an extensive network across the United States, connecting producing regions, processing centers, petrochemical hubs and coastal and inland markets.