Enterprise Products Partners L.P. (NYSE:EPD) Declares $0.53 Quarterly Dividend

Enterprise Products Partners L.P. (NYSE:EPD) declared a quarterly dividend on Wednesday, October 2nd, Zacks reports. Stockholders of record on Thursday, October 31st will be paid a dividend of 0.525 per share by the oil and gas producer on Thursday, November 14th. This represents a $2.10 annualized dividend and a dividend yield of 7.21%. The ex-dividend date of this dividend is Thursday, October 31st.

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 payout ratio of 73.2% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Enterprise Products Partners to earn $2.85 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 73.7%.

Enterprise Products Partners Trading Down 0.1 %

NYSE EPD opened at $29.11 on Wednesday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.68 and a current ratio of 0.91. The company’s 50-day simple moving average is $29.24 and its two-hundred day simple moving average is $28.94. Enterprise Products Partners has a one year low of $25.61 and a one year high of $30.05. The company has a market capitalization of $63.18 billion, a price-to-earnings ratio of 11.11, a price-to-earnings-growth ratio of 1.32 and a beta of 1.03.

Enterprise Products Partners (NYSE:EPD) last announced its earnings results on Tuesday, July 30th. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.02). The company had revenue of $13.48 billion for the quarter, compared to the consensus estimate of $14.23 billion. Enterprise Products Partners had a net margin of 10.48% and a return on equity of 20.13%. The firm’s revenue was up 26.6% compared to the same quarter last year. During the same period last year, the business posted $0.57 EPS. Equities analysts forecast that Enterprise Products Partners will post 2.7 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

EPD has been the topic of several analyst reports. Royal Bank of Canada lifted their target price on Enterprise Products Partners from $35.00 to $36.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. StockNews.com lowered shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. Truist Financial raised their target price on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Bank of America began coverage on Enterprise Products Partners in a research report on Thursday, October 17th. They set a “buy” rating and a $35.00 price target on the stock. Finally, US Capital Advisors raised Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday. One analyst has rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $33.73.

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.