Enterprise Products Partners L.P. (NYSE:EPD) Raises Dividend to $0.53 Per Share

Enterprise Products Partners L.P. (NYSE:EPD) declared 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 dividend on an annualized basis and a yield of 7.01%. The ex-dividend date is Wednesday, July 31st. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.52.

Enterprise Products Partners has increased its dividend payment 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 payout ratio of 73.2% meaning its dividend is sufficiently covered by earnings. Equities 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 opened at $29.94 on Monday. 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 business’s 50-day moving average price is $28.86 and its two-hundred day moving average price is $28.33. Enterprise Products Partners has a 1 year low of $25.61 and a 1 year high of $30.05. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.93 and a quick ratio of 0.68.

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

Wall Street Analyst Weigh In

A number of analysts have recently commented on EPD shares. JPMorgan Chase & Co. cut their price objective on shares of Enterprise Products Partners from $33.00 to $32.00 and set an “overweight” rating on the stock in a research report on Thursday, May 16th. Mizuho restated a “buy” rating and set a $34.00 price objective on shares of Enterprise Products Partners in a research note on Thursday, April 4th. Morgan Stanley decreased their price objective on Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating for the company in a report on Monday, June 10th. Truist Financial upped their target price on Enterprise Products Partners from $33.00 to $35.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Finally, StockNews.com upgraded Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 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. Based on data from MarketBeat, Enterprise Products Partners 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.