Enterprise Products Partners L.P. (NYSE:EPD) Plans Quarterly Dividend of $0.56

Enterprise Products Partners L.P. (NYSE:EPD) declared a quarterly dividend on Tuesday, July 7th. Shareholders of record on Friday, July 31st will be paid a dividend of 0.56 per share by the oil and gas producer on Friday, August 14th. This represents a c) dividend on an annualized basis and a yield of 6.0%. The ex-dividend date of this dividend is Friday, July 31st. This is a 1.8% increase from Enterprise Products Partners’s previous quarterly dividend of $0.55.

Enterprise Products Partners has raised its dividend by an average of 0.0%annually over the last three years and has increased its dividend every year for the last 28 years. Enterprise Products Partners has a dividend payout ratio of 73.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect Enterprise Products Partners to earn $3.29 per share next year, which means the company should continue to be able to cover its $2.20 annual dividend with an expected future payout ratio of 66.9%.

Enterprise Products Partners Stock Up 3.2%

Shares of EPD opened at $37.65 on Wednesday. The company has a current ratio of 0.91, a quick ratio of 0.61 and a debt-to-equity ratio of 1.03. Enterprise Products Partners has a 12 month low of $30.01 and a 12 month high of $40.17. The stock’s 50 day moving average is $37.72 and its two-hundred day moving average is $36.21. The firm has a market cap of $81.38 billion, a P/E ratio of 13.94, a PEG ratio of 1.29 and a beta of 0.49.

Enterprise Products Partners (NYSE:EPD) last announced its earnings results on Monday, April 27th. The oil and gas producer reported $0.68 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.03). Enterprise Products Partners had a return on equity of 19.53% and a net margin of 11.45%.The business had revenue of $14.39 billion for the quarter, compared to analyst estimates of $13.62 billion. During the same period in the previous year, the company earned $0.64 earnings per share. The company’s quarterly revenue was down 6.7% compared to the same quarter last year. Analysts predict that Enterprise Products Partners will post 3.01 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on EPD. Morgan Stanley restated an “underweight” rating and set a $43.00 price objective (up from $42.00) on shares of Enterprise Products Partners in a research report on Wednesday, May 20th. Royal Bank Of Canada lifted their target price on shares of Enterprise Products Partners from $40.00 to $42.00 and gave the company an “outperform” rating in a research report on Monday, March 30th. TD Cowen restated a “hold” rating and set a $38.00 price target (up from $34.00) on shares of Enterprise Products Partners in a research report on Thursday, April 16th. Citigroup reaffirmed a “buy” rating and issued a $44.00 price target (up from $39.00) on shares of Enterprise Products Partners in a research note on Friday, May 1st. Finally, Jefferies Financial Group boosted their price objective on Enterprise Products Partners from $34.00 to $40.00 and gave the stock a “hold” rating in a research note on Tuesday, March 31st. Nine analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $39.94.

Enterprise Products Partners Company Profile

Enterprise Products Partners L.P. (NYSE: EPD) is a Houston-based master limited partnership that provides midstream energy services across North America. The company owns and operates an extensive network of pipelines, storage facilities, processing plants and export terminals that transport and handle natural gas, natural gas liquids (NGLs), crude oil and refined and petrochemical products. Its core activities include gathering and transportation, fractionation of NGLs, natural gas processing, crude oil and condensate pipelines, and marine and terminal services that enable domestic distribution and exports.

Enterprise serves a diverse set of customers including producers, refiners, petrochemical companies, marketers and end users.