Energy Transfer (NYSE:ET) Issues Quarterly Earnings Results, Misses Estimates By $0.04 EPS

Energy Transfer (NYSE:ET) announced its quarterly earnings results on Wednesday. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.04), Briefing.com reports. The firm had revenue of $21.63 billion for the quarter, compared to the consensus estimate of $20.91 billion. Energy Transfer had a net margin of 4.85% and a return on equity of 12.17%. The company’s revenue for the quarter was up 13.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.32 earnings per share.

Energy Transfer Price Performance

Shares of ET traded down $0.02 during midday trading on Thursday, hitting $16.23. The company’s stock had a trading volume of 20,695,464 shares, compared to its average volume of 12,321,025. The company has a quick ratio of 0.88, a current ratio of 1.10 and a debt-to-equity ratio of 1.37. Energy Transfer has a one year low of $12.21 and a one year high of $16.40. The stock has a market capitalization of $54.68 billion, a price-to-earnings ratio of 14.89 and a beta of 1.63. The company’s fifty day simple moving average is $15.55 and its two-hundred day simple moving average is $14.44.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 20th. Investors of record on Monday, May 13th will be paid a $0.317 dividend. This represents a $1.27 dividend on an annualized basis and a yield of 7.81%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date is Friday, May 10th. Energy Transfer’s dividend payout ratio (DPR) is 116.51%.

Analysts Set New Price Targets

Several brokerages have recently commented on ET. UBS Group lowered their price target on shares of Energy Transfer from $23.00 to $22.00 and set a “buy” rating for the company in a research report on Thursday, February 15th. Citigroup lifted their price target on shares of Energy Transfer from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. Stifel Nicolaus boosted their price objective on shares of Energy Transfer from $18.00 to $19.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Mizuho restated a “buy” rating and set a $19.00 target price (up previously from $18.00) on shares of Energy Transfer in a report on Thursday, April 18th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $18.14.

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.