Enterprise Products Partners L.P. (NYSE:EPD) Declares Dividend Increase – $0.54 Per Share

Enterprise Products Partners L.P. (NYSE:EPD) announced a quarterly dividend on Wednesday, January 8th,RTT News reports. Shareholders of record on Friday, January 31st will be paid a dividend of 0.535 per share by the oil and gas producer on Friday, February 14th. This represents a $2.14 dividend on an annualized basis and a yield of 6.70%. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53.

Enterprise Products Partners has raised its dividend by an average of 4.9% per year over the last three years and has increased its dividend annually for the last 27 consecutive years. Enterprise Products Partners has a payout ratio of 69.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Enterprise Products Partners to earn $2.84 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 73.9%.

Enterprise Products Partners Trading Up 0.0 %

Shares of Enterprise Products Partners stock opened at $31.94 on Wednesday. The firm has a market cap of $69.23 billion, a price-to-earnings ratio of 11.96, a PEG ratio of 1.67 and a beta of 1.09. The business has a 50-day moving average price of $31.52 and a 200-day moving average price of $30.02. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05. Enterprise Products Partners has a twelve month low of $26.12 and a twelve month high of $34.63.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). The firm had revenue of $13.78 billion for the quarter, compared to analysts’ expectations of $13.87 billion. Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. The company’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.60 EPS. Equities research analysts anticipate that Enterprise Products Partners will post 2.69 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently commented on EPD shares. Truist Financial lifted their price target on Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Wells Fargo & Company lowered Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price target for the company. in a research report on Wednesday, December 18th. US Capital Advisors raised shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. Royal Bank of Canada reissued an “outperform” rating and issued a $36.00 price objective on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. Finally, Bank of America began coverage on shares of Enterprise Products Partners in a research note on Thursday, October 17th. They issued a “buy” rating and a $35.00 price objective for the company. Two investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.50.

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.