Enterprise Products Partners L.P. (EPD) to Issue Quarterly Dividend of $0.53 on August 14th

Enterprise Products Partners L.P. (NYSE:EPD) announced a quarterly dividend on Wednesday, July 10th, RTT News reports. Investors of record on Wednesday, July 31st will be paid a dividend of 0.525 per share by the oil and gas producer on Wednesday, August 14th. This represents a $2.10 annualized dividend and a dividend yield of 7.01%. The ex-dividend date is Wednesday, July 31st. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.52.

Enterprise Products Partners has increased its dividend by an average of 3.6% per year over the last three years and has increased its dividend every year for the last 27 years. Enterprise Products Partners has a dividend payout ratio of 73.2% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Enterprise Products Partners to earn $2.87 per share next year, which means the company should continue to be able to cover its $2.10 annual dividend with an expected future payout ratio of 73.2%.

Enterprise Products Partners Stock Performance

EPD stock opened at $29.94 on Monday. The firm has a 50 day moving average of $28.86 and a two-hundred day moving average of $28.33. Enterprise Products Partners has a 12 month low of $25.61 and a 12 month high of $30.05. The company has a market capitalization of $65.02 billion, a price-to-earnings ratio of 11.74, a P/E/G ratio of 1.40 and a beta of 1.04. The company has a quick ratio of 0.68, a current ratio of 0.93 and a debt-to-equity ratio of 0.99.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data on Tuesday, April 30th. The oil and gas producer reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.02. The business had revenue of $14.76 billion during the quarter, compared to analyst estimates of $13.82 billion. Enterprise Products Partners had a net margin of 10.76% and a return on equity of 19.73%. Enterprise Products Partners’s quarterly revenue was up 18.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.64 EPS. As a group, equities analysts anticipate that Enterprise Products Partners will post 2.71 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Truist Financial upped their price target on Enterprise Products Partners from $33.00 to $35.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. JPMorgan Chase & Co. lowered their price target on Enterprise Products Partners from $33.00 to $32.00 and set an “overweight” rating on the stock in a report on Thursday, May 16th. Wells Fargo & Company lifted their price target on shares of Enterprise Products Partners from $32.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday, April 4th. Mizuho reaffirmed a “buy” rating and set a $34.00 price objective on shares of Enterprise Products Partners in a report on Thursday, April 4th. Finally, Scotiabank raised their target price on shares of 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. Two equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $32.77.

Enterprise Products Partners Company Profile

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.