Energy Transfer Equity, L.P. (NYSE:ETE) announced a quarterly dividend on Thursday, October 26th, RTT News reports. Investors of record on Tuesday, November 7th will be paid a dividend of 0.295 per share by the pipeline company on Monday, November 20th. This represents a $1.18 annualized dividend and a yield of 6.63%. The ex-dividend date of this dividend is Monday, November 6th. This is an increase from Energy Transfer Equity, L.P.’s previous quarterly dividend of $0.29.
Energy Transfer Equity, L.P. has increased its dividend payment by an average of 20.5% per year over the last three years and has raised its dividend every year for the last 4 years. Energy Transfer Equity, L.P. has a dividend payout ratio of 95.2% 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 Equity, L.P. to earn $2.10 per share next year, which means the company should continue to be able to cover its $1.18 annual dividend with an expected future payout ratio of 56.2%.
Shares of Energy Transfer Equity, L.P. (NYSE ETE) opened at $17.79 on Friday. The company has a current ratio of 1.33, a quick ratio of 1.09 and a debt-to-equity ratio of 1.73. Energy Transfer Equity, L.P. has a 1 year low of $13.77 and a 1 year high of $20.05. The stock has a market cap of $19,198.70, a P/E ratio of 21.96 and a beta of 1.90.
Energy Transfer Equity, L.P. (NYSE:ETE) last announced its quarterly earnings data on Tuesday, August 8th. The pipeline company reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.07). The firm had revenue of $8.94 billion during the quarter, compared to the consensus estimate of $11.41 billion. Energy Transfer Equity, L.P. had a net margin of 2.18% and a return on equity of 3.79%. The business’s revenue was up 20.5% compared to the same quarter last year. During the same period last year, the business earned $0.23 earnings per share. sell-side analysts anticipate that Energy Transfer Equity, L.P. will post 1.24 EPS for the current fiscal year.
ETE has been the topic of a number of recent analyst reports. Stifel Nicolaus initiated coverage on shares of Energy Transfer Equity, L.P. in a research note on Thursday, July 13th. They issued a “buy” rating and a $20.00 price objective on the stock. Zacks Investment Research cut shares of Energy Transfer Equity, L.P. from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 25th. BidaskClub cut shares of Energy Transfer Equity, L.P. from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Sanford C. Bernstein restated an “outperform” rating on shares of Energy Transfer Equity, L.P. in a report on Thursday, August 10th. Finally, BMO Capital Markets set a $19.00 target price on shares of Energy Transfer Equity, L.P. and gave the company a “hold” rating in a report on Friday, August 18th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Energy Transfer Equity, L.P. currently has a consensus rating of “Buy” and a consensus target price of $21.63.
Energy Transfer Equity, L.P. Company Profile
Energy Transfer Equity, L.P. (ETE) owns equity interests in Energy Transfer Partners, L.P. (ETP) and Sunoco LP, which are engaged in diversified energy-related services. The Company’s segments include Investment in ETP, including the consolidated operations of ETP; Investment in Sunoco LP, including the consolidated operations of Sunoco LP; Investment in Lake Charles LNG, including the operations of Lake Charles LNG, and Corporate and Other.
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