Energy Transfer (NYSE:ET) Posts Quarterly Earnings Results, Misses Expectations By $0.06 EPS

Energy Transfer (NYSE:ET) announced its quarterly earnings results on Tuesday. The pipeline company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate 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 Stock Down 1.2 %

ET stock traded down $0.25 during midday trading on Tuesday, reaching $19.84. 15,418,259 shares of the company’s stock traded hands, compared to its average volume of 17,505,439. The company has a market cap of $67.93 billion, a price-to-earnings ratio of 14.59, a P/E/G ratio of 0.52 and a beta of 1.69. The firm’s fifty day moving average price is $19.72 and its 200-day moving average price is $17.68. The company has a quick ratio of 0.88, a current ratio of 1.08 and a debt-to-equity ratio of 1.40. Energy Transfer has a 52 week low of $13.94 and a 52 week high of $21.45.

Energy Transfer Increases Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. The Goldman Sachs Group lifted their target price on shares of Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Thursday, December 19th. Barclays lifted their target price on shares of Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Wells Fargo & Company lifted their target price on shares of Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Bank of America began coverage on shares of Energy Transfer in a research report on Thursday, October 17th. They set a “buy” rating and a $20.00 target price on the stock. Finally, Royal Bank of Canada boosted their price target on shares of Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $20.82.

Energy Transfer Company Profile

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.