Energy Transfer LP (NYSE:ET) Plans Quarterly Dividend of $0.34

Energy Transfer LP (NYSE:ET) declared a quarterly dividend on Tuesday, January 27th. Stockholders of record on Friday, February 6th will be paid a dividend of 0.335 per share by the pipeline company on Thursday, February 19th. This represents a c) annualized dividend and a dividend yield of 7.4%. The ex-dividend date is Friday, February 6th. This is a 0.8% increase from Energy Transfer’s previous quarterly dividend of $0.33.

Energy Transfer has increased its dividend payment by an average of 0.0%annually over the last three years and has increased its dividend annually for the last 4 consecutive years. Energy Transfer has a 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 research analysts expect Energy Transfer to earn $1.52 per share next year, which means the company should continue to be able to cover its $1.33 annual dividend with an expected future payout ratio of 87.5%.

Energy Transfer Price Performance

ET traded up $0.14 during trading on Wednesday, hitting $18.09. 5,035,139 shares of the stock traded hands, compared to its average volume of 15,440,068. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.41 and a quick ratio of 1.14. Energy Transfer has a twelve month low of $14.60 and a twelve month high of $21.16. The company has a market cap of $62.10 billion, a price-to-earnings ratio of 14.47, a PEG ratio of 0.94 and a beta of 0.66. The business has a 50 day moving average price of $16.78 and a 200 day moving average price of $17.07.

Energy Transfer (NYSE:ET) last released its earnings results on Wednesday, November 5th. The pipeline company reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.06). The business had revenue of $19.95 billion during the quarter, compared to the consensus estimate of $21.84 billion. Energy Transfer had a net margin of 5.66% and a return on equity of 10.71%. The business’s revenue was down 3.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.32 EPS. Equities research analysts forecast that Energy Transfer will post 1.46 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Kelcy L. Warren acquired 1,000,000 shares of the stock in a transaction on Wednesday, November 19th. The shares were acquired at an average price of $16.95 per share, with a total value of $16,950,000.00. Following the completion of the transaction, the director owned 104,577,803 shares in the company, valued at approximately $1,772,593,760.85. The trade was a 0.97% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 3.28% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Chelsea Counsel Co. grew its holdings in shares of Energy Transfer by 370.3% during the 2nd quarter. Chelsea Counsel Co. now owns 94,050 shares of the pipeline company’s stock worth $1,705,000 after acquiring an additional 74,050 shares during the period. Ariston Services Group increased its holdings in shares of Energy Transfer by 126.7% during the second quarter. Ariston Services Group now owns 100,683 shares of the pipeline company’s stock valued at $1,825,000 after acquiring an additional 56,274 shares in the last quarter. Highland Capital Management LLC bought a new stake in Energy Transfer during the 2nd quarter valued at about $930,000. Eagle Global Advisors LLC grew its holdings in shares of Energy Transfer by 6.0% during the third quarter. Eagle Global Advisors LLC now owns 6,466,059 shares of the pipeline company’s stock valued at $110,958,000 after buying an additional 363,623 shares during the last quarter. Finally, Corient Private Wealth LLC boosted its stake in Energy Transfer by 223.7% during the 2nd quarter. Corient Private Wealth LLC now owns 1,690,771 shares of the pipeline company’s stock valued at $30,654,000 after purchasing an additional 1,168,440 shares during the last quarter. 38.22% of the stock is owned by institutional investors.

About Energy Transfer

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.