Enterprise Products Partners L.P. (EPD) to Issue Quarterly Dividend of $0.54 on February 14th

Enterprise Products Partners L.P. (NYSE:EPD) announced a quarterly dividend on Wednesday, January 8th,RTT News reports. Investors 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 annualized dividend and a dividend yield of 6.36%. The ex-dividend date is Friday, January 31st. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.53.

Enterprise Products Partners has increased its dividend by an average of 5.0% annually over the last three years and has increased its dividend every year for the last 26 years. Enterprise Products Partners has a dividend payout ratio of 70.4% 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 $2.14 annual dividend with an expected future payout ratio of 75.4%.

Enterprise Products Partners Stock Performance

EPD opened at $33.65 on Wednesday. Enterprise Products Partners has a 52-week low of $26.12 and a 52-week high of $34.63. The firm has a market cap of $72.95 billion, a P/E ratio of 12.60, a price-to-earnings-growth ratio of 1.60 and a beta of 1.09. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 1.07. The business’s fifty day moving average is $32.42 and its 200-day moving average is $30.43.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.01). The business had revenue of $13.78 billion for the quarter, compared to analyst estimates of $13.87 billion. Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. Enterprise Products Partners’s quarterly revenue was up 14.8% on a year-over-year basis. During the same period last year, the firm posted $0.60 EPS. Sell-side analysts expect that Enterprise Products Partners will post 2.67 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $36.00 price objective on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. US Capital Advisors upgraded shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, October 28th. Truist Financial raised their price target on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Bank of America started coverage on Enterprise Products Partners in a report on Thursday, October 17th. They issued a “buy” rating and a $35.00 price objective for the company. Finally, Scotiabank began coverage on Enterprise Products Partners in a report on Friday, January 10th. They set a “sector perform” rating and a $33.00 target price on the stock. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Enterprise Products Partners currently has an average rating of “Moderate Buy” and an average price target of $34.60.

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.