Enterprise Products Partners L.P. (NYSE:EPD) Declares Quarterly Dividend of $0.52

Enterprise Products Partners L.P. (NYSE:EPD) announced a quarterly dividend on Friday, April 5th, RTT News reports. Investors of record on Tuesday, April 30th will be given a dividend of 0.515 per share by the oil and gas producer on Tuesday, May 14th. This represents a $2.06 annualized dividend and a dividend yield of 7.09%. The ex-dividend date of this dividend is Monday, April 29th.

Enterprise Products Partners has raised its dividend by an average of 3.6% annually over the last three years and has increased its dividend annually for the last 27 consecutive years. Enterprise Products Partners has a dividend payout ratio of 72.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Enterprise Products Partners to earn $2.78 per share next year, which means the company should continue to be able to cover its $2.06 annual dividend with an expected future payout ratio of 74.1%.

Enterprise Products Partners Stock Performance

EPD stock opened at $29.06 on Friday. The stock’s fifty day moving average is $28.58 and its two-hundred day moving average is $27.33. The stock has a market capitalization of $63.01 billion, a price-to-earnings ratio of 11.53 and a beta of 1.02. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.68 and a current ratio of 0.93. Enterprise Products Partners has a 1 year low of $25.19 and a 1 year high of $29.99.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Thursday, February 1st. The oil and gas producer reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.04. Enterprise Products Partners had a net margin of 11.12% and a return on equity of 19.65%. The firm had revenue of $14.62 billion during the quarter, compared to analyst estimates of $12.43 billion. During the same period in the previous year, the business posted $0.65 EPS. Enterprise Products Partners’s revenue was up 7.1% on a year-over-year basis. On average, research analysts predict that Enterprise Products Partners will post 2.63 EPS for the current year.

Analyst Ratings Changes

Several brokerages have weighed in on EPD. Scotiabank lifted their target price on Enterprise Products Partners from $31.00 to $32.00 and gave the company a “sector outperform” rating in a research note on Thursday, April 4th. Royal Bank of Canada restated an “outperform” rating and set a $35.00 price objective on shares of Enterprise Products Partners in a research note on Friday, April 5th. Wells Fargo & Company lifted their price objective on shares of Enterprise Products Partners from $32.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday, April 4th. StockNews.com upgraded shares of Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 9th. Finally, Truist Financial lifted their price objective on shares of Enterprise Products Partners from $31.00 to $33.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Enterprise Products Partners currently has a consensus rating of “Buy” and an average target price of $32.58.

About Enterprise Products Partners

Enterprise Products Partners L.P. provides midstream energy services to producers and consumers of natural gas, natural gas liquids (NGLs), crude oil, petrochemicals, and refined products. It operates in four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.