Energy Transfer LP (ET) Announces Dividend Increase

Energy Transfer LP (NYSE: ET) has announced an increase in its quarterly cash distribution to $0.3150 per energy transfer common unit ($1.26 on an annualized basis) for the fourth quarter ended December 31, 2023. This marks a 3.3 percent increase compared to the fourth quarter of 2022. The cash distribution per energy transfer common unit is scheduled to be paid on February 20, 2024, to unitholders of record as of the close of business on February 7, 2024.

In addition to this announcement, Energy Transfer plans to release earnings for the fourth quarter and full year of 2023 on Wednesday, February 14, 2024, after the market closes. The company will also conduct a conference call on the same day at 3:30 p.m. Central Time/4:30 p.m. Eastern Time to discuss quarterly results and provide an outlook for 2024.

Energy Transfer LP owns and operates a vast portfolio of energy assets in the United States, with more than 125,000 miles of pipeline and associated energy infrastructure across 44 states and assets in all major U.S. production basins. The company's core operations include natural gas midstream, intrastate and interstate transportation and storage assets, crude oil, natural gas liquids (NGL), and refined product transportation and terminalling assets, as well as NGL fractionation. Energy Transfer also holds interests in other entities, including Lake Charles LNG Company, Sunoco LP (NYSE: SUN), and USA Compression Partners, LP (NYSE: USAC).

Regarding the market performance, the company's shares have experienced a 0.4% movement and are currently trading at a price of $14.34.

Management at Energy Transfer is optimistic about the company's outlook for 2024. According to the company's CEO, "We are pleased to announce the increase in our quarterly cash distribution, reflecting our commitment to delivering value to our unitholders. We look forward to discussing our quarterly results and providing an outlook for 2024 during our upcoming conference call."

The company's full 8-K submission is available here.

2018 2019 2020 2021 2022 2023
Revenue (MM) $54,087 $54,213 $38,954 $67,417 $89,876 $78,555
Revenue Growth n/a 0.23% -28.15% 73.07% 33.31% -12.6%
Operating Margins 10% 13% 8% 13% 9% 10%
Net Margins 3% 6% -2% 8% 5% 5%
Net Income (MM) $1,749 $3,518 -$648 $5,470 $4,756 $3,763
Net Interest Expense (MM) $2,055 $2,331 $2,327 $2,267 $2,306 $2,484
Depreciation & Amort. (MM) $2,859 $3,147 $3,678 $3,817 $4,164 $4,287
Earnings Per Share $1.2 $1.33 -$0.24 $2.0 $1.54 $1.19
EPS Growth n/a 10.83% -118.05% 933.33% -23.0% -22.73%
Diluted Shares (MM) 1,461 2,638 2,696 2,740 3,097 3,168
Free Cash Flow (MM) $99 $2,096 $2,231 $8,340 $5,670 $6,279
Capital Expenditures (MM) $7,407 $5,960 $5,130 $2,822 $3,381 $3,318
Current Ratio 0.69 0.97 1.07 0.97 1.17 1.05
Total Debt (MM) $46,028 $51,054 $51,438 $49,702 $48,260 $48,080
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