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Energy Transfer

NYSE:ET
Snowflake Description

Good value with proven track record and pays a dividend.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
ET
NYSE
$39B
Market Cap
  1. Home
  2. US
  3. Energy
Company description

Energy Transfer LP provides energy-related services in the United States and China. The last earnings update was 11 days ago. More info.


Add to Portfolio Compare Print
  • Energy Transfer is a fund or ETF! Currently our data availability for these is poor, we only recommend using them as part of a portfolio.
ET Share Price and Events
7 Day Returns
0.1%
NYSE:ET
0.4%
US Oil and Gas
-0.7%
US Market
1 Year Returns
-13.4%
NYSE:ET
-16.7%
US Oil and Gas
3%
US Market
ET Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Energy Transfer (ET) 0.1% -3.1% -5.3% -13.4% 16.9% -42.4%
US Oil and Gas 0.4% -4.6% -2.2% -16.7% -0.1% -32.7%
US Market -0.7% -2% 2.4% 3% 39.2% 42%
1 Year Return vs Industry and Market
  • ET outperformed the Oil and Gas industry which returned -16.7% over the past year.
  • ET underperformed the Market in United States of America which returned 3% over the past year.
Price Volatility
ET
Industry
5yr Volatility vs Market

ET Value

 Is Energy Transfer undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Energy Transfer to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Energy Transfer.

NYSE:ET Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 8 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 11.8%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NYSE:ET
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Oil and Gas Unlevered Beta Simply Wall St/ S&P Global 0.9
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.901 (1 + (1- 21%) (122.3%))
1.517
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.52
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.517 * 5.96%)
11.77%

Discounted Cash Flow Calculation for NYSE:ET using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Energy Transfer is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

NYSE:ET DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 11.77%)
2019 3,514.00 Analyst x2 3,143.93
2020 5,255.50 Analyst x2 4,206.83
2021 6,756.65 Est @ 28.56% 4,838.87
2022 8,162.95 Est @ 20.81% 5,230.34
2023 9,419.09 Est @ 15.39% 5,399.61
2024 10,510.85 Est @ 11.59% 5,390.91
2025 11,449.74 Est @ 8.93% 5,254.01
2026 12,259.45 Est @ 7.07% 5,033.11
2027 12,966.73 Est @ 5.77% 4,762.85
2028 13,596.59 Est @ 4.86% 4,468.24
Present value of next 10 years cash flows $47,728.69
NYSE:ET DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $13,596.59 × (1 + 2.73%) ÷ (11.77% – 2.73%)
$154,492.92
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $154,492.92 ÷ (1 + 11.77%)10
$50,770.97
NYSE:ET Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $47,728.69 + $50,770.97
$98,499.65
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $98,499.65 / 2,619.67
$37.6
NYSE:ET Discount to Share Price
Calculation Result
Value per share (USD) From above. $37.60
Current discount Discount to share price of $14.80
= -1 x ($14.80 - $37.60) / $37.60
60.6%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Energy Transfer is available for.
Intrinsic value
>50%
Share price is $14.8 vs Future cash flow value of $37.6
Current Discount Checks
For Energy Transfer to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Energy Transfer's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Energy Transfer's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Energy Transfer's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Energy Transfer's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:ET PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $1.22
NYSE:ET Share Price ** NYSE (2019-05-17) in USD $14.8
United States of America Oil and Gas Industry PE Ratio Median Figure of 100 Publicly-Listed Oil and Gas Companies 12.94x
United States of America Market PE Ratio Median Figure of 3,088 Publicly-Listed Companies 17.89x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Energy Transfer.

NYSE:ET PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:ET Share Price ÷ EPS (both in USD)

= 14.8 ÷ 1.22

12.09x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Energy Transfer is good value based on earnings compared to the US Oil and Gas industry average.
  • Energy Transfer is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does Energy Transfer's expected growth come at a high price?
Raw Data
NYSE:ET PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 12.09x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 8 Analysts
8.8%per year
United States of America Oil and Gas Industry PEG Ratio Median Figure of 75 Publicly-Listed Oil and Gas Companies 0.51x
United States of America Market PEG Ratio Median Figure of 2,117 Publicly-Listed Companies 1.56x

*Line of best fit is calculated by linear regression .

NYSE:ET PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 12.09x ÷ 8.8%

1.37x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Energy Transfer is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Energy Transfer's assets?
Raw Data
NYSE:ET PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $7.89
NYSE:ET Share Price * NYSE (2019-05-17) in USD $14.8
United States of America Oil and Gas Industry PB Ratio Median Figure of 194 Publicly-Listed Oil and Gas Companies 1.05x
United States of America Market PB Ratio Median Figure of 5,195 Publicly-Listed Companies 1.83x
NYSE:ET PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:ET Share Price ÷ Book Value per Share (both in USD)

= 14.8 ÷ 7.89

1.88x

* Primary Listing of Energy Transfer.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Energy Transfer is overvalued based on assets compared to the US Oil and Gas industry average.
X
Value checks
We assess Energy Transfer's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Oil and Gas industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Oil and Gas industry average (and greater than 0)? (1 check)
  5. Energy Transfer has a total score of 4/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

ET Future Performance

 How is Energy Transfer expected to perform in the next 1 to 3 years based on estimates from 8 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
8.8%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Energy Transfer expected to grow at an attractive rate?
  • Energy Transfer's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Energy Transfer's earnings growth is positive but not above the United States of America market average.
  • Energy Transfer's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NYSE:ET Future Growth Rates Data Sources
Data Point Source Value (per year)
NYSE:ET Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 8 Analysts 8.8%
NYSE:ET Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 8 Analysts 2%
United States of America Oil and Gas Industry Earnings Growth Rate Market Cap Weighted Average 12.9%
United States of America Oil and Gas Industry Revenue Growth Rate Market Cap Weighted Average 4.8%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.9%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.3%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NYSE:ET Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 8 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:ET Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 62,588 1
2022-12-31 61,749 1
2021-12-31 58,788 8,550 4,368 4
2020-12-31 60,645 8,427 4,123 8
2019-12-31 57,482 8,321 4,066 7
NYSE:ET Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 55,315 7,183 2,214
2018-12-31 54,087 7,022 1,923
2018-09-30 51,965 5,831 1,535
2018-06-30 47,435 5,655 1,386
2018-03-31 42,744 5,327 1,427
2017-12-31 40,523 4,565 1,092
2017-09-30 39,637 4,575 1,576
2017-06-30 37,358 3,490 1,548
2017-03-31 35,346 3,322 1,375
2016-12-31 31,792 3,415 1,445
2016-09-30 30,763 3,311 1,045
2016-06-30 33,674 3,474 1,141

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Energy Transfer's earnings are expected to grow by 8.8% yearly, however this is not considered high growth (20% yearly).
  • Energy Transfer's revenue is expected to grow by 2% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NYSE:ET Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 8 Analyst Estimates (S&P Global) See Below

All data from Energy Transfer Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:ET Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 1.67 1.99 1.29 5.00
2020-12-31 1.53 1.92 0.82 10.00
2019-12-31 1.46 1.69 0.94 10.00
NYSE:ET Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 1.22
2018-12-31 1.35
2018-09-30 1.39
2018-06-30 1.27
2018-03-31 1.32
2017-12-31 1.01
2017-09-30 1.47
2017-06-30 1.46
2017-03-31 1.31
2016-12-31 1.38
2016-09-30 1.00
2016-06-30 1.09

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Energy Transfer is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).
X
Future performance checks
We assess Energy Transfer's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Energy Transfer has a total score of 2/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

ET Past Performance

  How has Energy Transfer performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Energy Transfer's growth in the last year to its industry (Oil and Gas).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Energy Transfer has delivered over 20% year on year earnings growth in the past 5 years.
  • Energy Transfer's 1-year earnings growth exceeds its 5-year average (55.2% vs 27.4%)
  • Energy Transfer's earnings growth has exceeded the US Oil and Gas industry average in the past year (55.2% vs 31.4%).
Earnings and Revenue History
Energy Transfer's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Energy Transfer Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:ET Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 55,315.00 2,214.00 839.00
2018-12-31 54,087.00 1,923.00 801.00
2018-09-30 51,965.00 1,535.00 724.00
2018-06-30 47,435.00 1,386.00 692.00
2018-03-31 42,744.00 1,427.00 694.00
2017-12-31 40,523.00 1,092.00 745.00
2017-09-30 39,637.00 1,576.00 854.00
2017-06-30 37,358.00 1,548.00 904.00
2017-03-31 35,346.00 1,375.00 873.00
2016-12-31 31,792.00 1,445.00 791.00
2016-09-30 30,763.00 1,045.00 813.00
2016-06-30 33,674.00 1,141.00 773.00
2016-03-31 37,853.00 1,215.00 829.00
2015-12-31 36,096.00 1,145.00 803.00
2015-09-30 46,071.00 983.00 867.00
2015-06-30 50,442.00 881.00 863.00
2015-03-31 52,991.00 703.00 788.00
2014-12-31 55,691.00 565.00 744.00
2014-09-30 54,817.00 293.00 633.00
2014-06-30 52,316.00 241.00 612.00
2014-03-31 50,236.00 239.00 630.00
2013-12-31 48,335.00 163.00 660.00
2013-09-30 47,041.00 346.00 669.00
2013-06-30 36,659.00 386.00 610.00
2013-03-31 26,473.00 315.00 554.00
2012-12-31 16,964.00 411.00 517.00
2012-09-30 7,816.12 474.16 459.54
2012-06-30 7,796.13 368.58 439.41

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Energy Transfer has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Energy Transfer used its assets less efficiently than the US Oil and Gas industry average last year based on Return on Assets.
  • Energy Transfer has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Energy Transfer's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Oil and Gas industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Energy Transfer has a total score of 4/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

ET Health

 How is Energy Transfer's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Energy Transfer's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Energy Transfer is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Energy Transfer's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Energy Transfer's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.2x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Energy Transfer Company Filings, last reported 1 month ago.

NYSE:ET Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 31,561.00 47,419.00 529.00
2018-12-31 31,349.00 46,028.00 419.00
2018-09-30 31,532.00 44,772.00 398.00
2018-06-30 30,870.00 44,633.00 519.00
2018-03-31 29,502.00 42,188.00 547.00
2017-12-31 30,001.00 44,084.00 336.00
2017-09-30 26,661.00 45,211.00 469.00
2017-06-30 25,211.00 44,454.00 375.00
2017-03-31 25,757.00 42,975.00 370.00
2016-12-31 22,479.00 44,052.00 467.00
2016-09-30 23,238.00 41,324.00 472.00
2016-06-30 23,045.00 39,621.00 475.00
2016-03-31 23,087.00 38,331.00 807.00
2015-12-31 23,646.00 36,968.00 606.00
2015-09-30 23,096.00 36,347.00 1,019.00
2015-06-30 23,595.00 34,915.00 1,623.00
2015-03-31 22,839.00 33,653.00 1,863.00
2014-12-31 22,362.00 30,485.00 847.00
2014-09-30 22,340.00 29,939.00 1,108.00
2014-06-30 19,715.00 27,318.00 1,234.00
2014-03-31 19,990.00 26,293.00 1,010.00
2013-12-31 16,311.00 23,199.00 590.00
2013-09-30 17,236.00 22,309.00 1,177.00
2013-06-30 17,173.00 22,759.00 621.00
2013-03-31 16,455.00 23,294.00 614.00
2012-12-31 16,423.00 22,384.00 372.00
2012-09-30 10,764.00 18,468.05 172.08
2012-06-30 10,504.23 18,393.25 217.17
  • Energy Transfer's level of debt (150.2%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (131.6% vs 150.2% today).
  • Debt is not well covered by operating cash flow (15.1%, less than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 2.9x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess Energy Transfer's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Energy Transfer has a total score of 1/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

ET Dividends

 What is Energy Transfer's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
8.24%
Current annual income from Energy Transfer dividends. Estimated to be 8.76% next year.
If you bought $2,000 of Energy Transfer shares you are expected to receive $165 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Energy Transfer's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.44%).
  • Energy Transfer's dividend is above the markets top 25% of dividend payers in United States of America (3.69%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NYSE:ET Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 8 Analyst Estimates (S&P Global) See Below
United States of America Oil and Gas Industry Average Dividend Yield Market Cap Weighted Average of 66 Stocks 3.7%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2000 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NYSE:ET Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2023-12-31 1.50 4.00
2022-12-31 1.42 4.00
2021-12-31 1.34 12.00
2020-12-31 1.26 17.00
2019-12-31 1.22 16.00
NYSE:ET Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-04-25 1.220 8.108
2019-01-29 1.220 8.043
2018-10-29 1.220 8.515
2018-07-26 1.220 6.974
2018-04-26 1.220 7.131
2018-01-29 1.220 7.796
2017-10-26 1.180 6.876
2017-08-09 1.140 6.565
2017-08-08 1.140 6.639
2017-05-04 1.140 6.547
2017-05-03 1.140 6.460
2017-01-26 1.140 6.057
2016-10-27 1.140 6.608
2016-07-28 1.140 6.758
2016-04-26 1.140 8.321
2016-01-27 1.140 15.438
2015-10-26 1.140 8.327
2015-07-23 1.060 4.126
2015-05-08 0.980 2.955
2015-05-06 0.980 2.927
2015-01-26 0.900 2.868
2014-11-06 0.830 2.936
2014-11-05 0.830 2.809
2014-08-05 0.760 2.619
2014-04-23 0.718 2.698
2014-01-28 0.693 3.089
2013-11-07 0.673 3.472
2013-11-05 0.673 3.897
2013-07-29 0.655 4.018
2013-04-24 0.645 4.339
2013-01-28 0.635 4.649
2012-10-25 0.625 5.413
2012-07-26 0.625 5.676
2012-04-24 0.625 6.338
2012-01-25 0.625 5.971
2011-10-25 0.625 6.470
2011-06-30 0.625 6.499
2011-04-26 0.560 5.219
2011-01-27 0.540 5.212
2010-10-28 0.540 5.535
2010-07-28 0.540 5.908
2010-04-29 0.540 6.653
2010-01-28 0.540 6.506
2009-10-28 0.535 7.017
2009-07-28 0.535 7.517

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Energy Transfer's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (1x coverage).
Future Payout to shareholders
  • Dividends after 3 years are not well covered by earnings (1.1x coverage).
X
Income/ dividend checks
We assess Energy Transfer's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Energy Transfer afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Energy Transfer has a total score of 4/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

ET Management

 What is the CEO of Energy Transfer's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Kelcy Warren
COMPENSATION $6,138
AGE 62
TENURE AS CEO 0.6 years
CEO Bio

Mr. Kelcy L. Warren serves as Chief Executive Officer and Chairman of the Board of Directors at Energy Transfer Partners, L. P. (ETP) since October 2018. Mr. Warren Chief Executive Officer of Rover Pipeline LLC. Mr. Warren has been Chief Executive Officer and Chairman of Energy Transfer Partners GP, LP. since August 2007. Mr. Warren served as Chief Executive Officer at PennTex Midstream Partners, LLC and Penntex Midstream GP LLC since November 01, 2016 until July 2017. Mr. Warren is President and Chairman of the Board of Directors of Roatan Electric Company. Mr. Warren serves as the Chief Executive Officer of Panhandle Eastern Pipe Line Co LP. Mr. Warren serves as Chairman and Chief Executive Officer of Energy Transfer Partners, L.P. (ETE) and also serves in the same capacity with companies affiliated with ETE. He is Chairman of The Board of Energy Transfer Partners and Chief Executive Officer of Energy Transfer Partners at Lone Star NGL LLC. He serves as a Member of the Management Council at ETP Enogex Partners LLC. He is a Founding Principal of Energy Transfer Company. He served as Co-chief Executive Officer of the general partner of ETC OLP and as Co-chief Executive Officer and Co-Chairman of the Board of the general partner of La Grange Energy since 2002. Mr. Warren is the Chief Executive Officer and Chairman of the Board of Directors of the general partner of ETP. Mr. Warren also serves as Chief executive officer and Chairman of the Board of Directors of LE GP, LLC, general partner of Energy Transfer Equity, L.P. He has more than 30 years of business experience in the energy industry. He served as Chief Executive Officer at LE GP, LLC since August 15, 2007. He served as Chairman and Chief Executive Officer of Energy Transfer Partners, L.L.C. since August 15, 2007. He also served as Co-Chief Executive Officer and Co-Chairman of the Board of Energy Transfer Partners, L.L.C. since January 2004. Prior to the combination of the operations of ETC OLP and HOLP, Mr. Warren served as President of the general partner of ET Company I, Ltd., since 1996. He served as the Chief Executive Officer of Southern Union Co. Mr. Warren served as a Co-Chief Executive Officer and Co-Chairman of Energy Transfer Partners LP and U S Propane LLC since January 2004. He served as Co-Chief Executive Officer of OEC Compression Corp. since September 1999. He served as President and Chief Operating Officer of Cornerstone Natural Gas Inc. from June 1993 to 1996 and its Executive Vice President from 1989 to 1990. Prior to forming Energy Transfer Company, he was employed by Endevco Inc., a natural gas pipeline and processing company and predecessor of Cornerstone Natural Gas Inc., from 1981 to 1992. At Endevco, he served in many capacities, including President and Chief Operating Officer. Prior to Endevco, he was employed by Lone Star Gas Company. Mr. Warren has been Chairman at LE GP, LLC since August 15, 2007. He served as Co-Chairman of LE GP, LLC. He served as the Co-Chairman of the Board at OEC Compression Corp. He has been a Director of Sunoco Inc. since October 5, 2012. Mr. Warren serves as a Director of LE GP, LLC. He serves as a Director of Energy Transfer Partners, L.L.C. He serves as a Member of Development Board at University Of Texas At Arlington. He served as a Director of OEC Compression Corp. since December 1996. He served as a Director of Endevco Inc. and Crosstex Energy, Inc. from 1996 to 2000. Mr. Warren served as a Director of Cornerstone Natural Gas Inc. since 1985 and again from 1993 to 1996.

CEO Compensation
  • Kelcy's compensation has been consistent with company performance over the past year.
  • Kelcy's remuneration is lower than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Energy Transfer management team in years:

3.4
Average Tenure
61
Average Age
  • The tenure for the Energy Transfer management team is about average.
Management Team

Kelcy Warren

TITLE
Chairman & CEO of LE GP
COMPENSATION
$6K
AGE
62
TENURE
0.6 yrs

Mackie McCrea

TITLE
President
COMPENSATION
$11M
AGE
59

Tom Long

TITLE
Group CFO & Director of LE GP
COMPENSATION
$7M
AGE
61

Matt Ramsey

TITLE
COO & Director of LE GP
COMPENSATION
$4M
AGE
63

Tom Mason

TITLE
Executive VP
COMPENSATION
$4M
AGE
61
TENURE
3.4 yrs

John McReynolds

TITLE
Special Advisor & Director of LE GP
COMPENSATION
$1M
AGE
67

A. Sturrock

TITLE
Senior VP
AGE
47

Brent Ratliff

TITLE
VP, Investor Relations

Brad Whitehurst

TITLE
Executive VP & Head of Tax of LE GP
COMPENSATION
$3M
AGE
43
TENURE
4.8 yrs

Kevin Smith

TITLE
Executive Vice President
Board of Directors Tenure

Average tenure and age of the Energy Transfer board of directors in years:

6.8
Average Tenure
62.5
Average Age
  • The tenure for the Energy Transfer board of directors is about average.
Board of Directors

Kelcy Warren

TITLE
Chairman & CEO of LE GP
COMPENSATION
$6K
AGE
62
TENURE
13.3 yrs

Mackie McCrea

TITLE
President
COMPENSATION
$11M
AGE
59
TENURE
9.4 yrs

Tom Long

TITLE
Group CFO & Director of LE GP
COMPENSATION
$7M
AGE
61
TENURE
0.1 yrs

Matt Ramsey

TITLE
COO & Director of LE GP
COMPENSATION
$4M
AGE
63
TENURE
6.8 yrs

Dick Brannon

TITLE
Director of LE GP LLC
COMPENSATION
$294K
AGE
59

Michael Grimm

TITLE
Director of LE GP
AGE
63

John McReynolds

TITLE
Special Advisor & Director of LE GP
COMPENSATION
$1M
AGE
67
TENURE
13.8 yrs

Ray Davis

TITLE
Director of LE GP LLC
COMPENSATION
$68K
AGE
76
TENURE
1.3 yrs

Steven Anderson

TITLE
Director of LE GP
COMPENSATION
$136K
AGE
68
TENURE
0.9 yrs

David Skidmore

TITLE
Director
AGE
62
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
27. Dec 18 Buy Thomas Long Individual 24. Dec 18 24. Dec 18 24,500 $12.05 $295,166
20. Nov 18 Buy Kelcy Warren Individual 19. Nov 18 19. Nov 18 1,000,000 $14.93 $14,930,000
14. Nov 18 Buy Ray Davis Individual 12. Nov 18 12. Nov 18 316,000 $15.80 $4,992,800
14. Nov 18 Buy Kelcy Warren Individual 12. Nov 18 13. Nov 18 2,000,000 $15.64 $31,090,000
11. Sep 18 Buy Richard Brannon Individual 10. Sep 18 11. Sep 18 100,000 $17.77 $1,767,900
07. Sep 18 Buy Richard Brannon Individual 06. Sep 18 06. Sep 18 25,000 $17.55 $438,200
X
Management checks
We assess Energy Transfer's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Energy Transfer has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

ET News

Simply Wall St News

ET Company Info

Description

Energy Transfer LP provides energy-related services in the United States and China. The company owns and operates approximately 9,400 miles of natural gas transportation pipelines and three natural gas storage facilities in Texas; and approximately 12,200 miles of interstate natural gas pipelines. It sells natural gas to electric utilities, independent power plants, local distribution companies, industrial end-users, and other marketing companies. The company owns and operates natural gas gathering and natural gas liquid (NGL) pipelines, processing plants, treating facilities, and conditioning facilities in Texas, New Mexico, West Virginia, Pennsylvania, Ohio, and Louisiana; natural gas gathering, oil pipeline, and oil stabilization facilities in South Texas; a natural gas gathering system in Ohio; and transportation and supply of water to natural gas producers in Pennsylvania. It also owns approximately 4,769 miles of NGL pipelines; NGL and propane fractionation facilities; NGL storage facilities with working storage capacity of approximately 45 million barrels (Bbls); and other NGL storage assets and terminals with an aggregate storage capacity of approximately 11 million Bbls. The company also sells gasoline, middle distillates, and motor fuel at retail, as well as crude oil, NGLs, and refined products; operates convenience stores; and distributes motor fuels and other petroleum products. It provides natural gas compression services; carbon dioxide and hydrogen sulfide removal, natural gas cooling, dehydration, and British thermal unit management services; and manages coal and natural resources properties, as well as sells standing timber, leases coal-related infrastructure facilities, collects oil and gas royalties, and generates a total of 75 megawatts electrical power. The company was formerly known as Energy Transfer Equity, L.P. and changed its name to Energy Transfer LP in October 2018. Energy Transfer LP was founded in 2002 and is based in Dallas, Texas.

Details
Name: Energy Transfer LP
ET
Exchange: NYSE
Founded: 2002
$38,771,144,001
2,619,671,892
Website: http://www.energytransfer.com
Address: Energy Transfer LP
8111 Westchester Drive,
Suite 600,
Dallas,
Texas, 75225,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE ET Common Units New York Stock Exchange US USD 03. Feb 2006
DB 48E Common Units Deutsche Boerse AG DE EUR 03. Feb 2006
LSE 0S1Z Common Units London Stock Exchange GB USD 03. Feb 2006
Number of employees
Current staff
Staff numbers
11,768
Energy Transfer employees.
Industry
Oil and Gas Storage and Transportation
Energy
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/20 02:02
End of day share price update: 2019/05/17 00:00
Last estimates confirmation: 2019/05/16
Last earnings filing: 2019/05/09
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.