Enterprise Products Partners L.P. (NYSE:EPD) Declares Dividend Increase – $0.55 Per Share

Enterprise Products Partners L.P. (NYSE:EPD) announced a quarterly dividend on Thursday, January 8th. Investors of record on Friday, January 30th will be given a dividend of 0.55 per share by the oil and gas producer on Friday, February 13th. This represents a c) annualized dividend and a yield of 6.9%. The ex-dividend date of this dividend is Friday, January 30th. This is a 0.9% increase from Enterprise Products Partners’s previous quarterly dividend of $0.55.

Enterprise Products Partners has increased its dividend payment by an average of 0.0%per year over the last three years and has increased its dividend annually for the last 28 consecutive years. Enterprise Products Partners has a payout ratio of 72.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Enterprise Products Partners to earn $3.05 per share next year, which means the company should continue to be able to cover its $2.18 annual dividend with an expected future payout ratio of 71.5%.

Enterprise Products Partners Stock Performance

EPD opened at $31.88 on Friday. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.88 and a quick ratio of 0.60. The business has a fifty day simple moving average of $31.93 and a 200 day simple moving average of $31.59. Enterprise Products Partners has a 1 year low of $27.77 and a 1 year high of $34.53. The company has a market capitalization of $68.96 billion, a PE ratio of 12.03, a price-to-earnings-growth ratio of 2.23 and a beta of 0.59.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data on Wednesday, October 29th. The oil and gas producer reported $0.61 earnings per share for the quarter, missing the consensus estimate of $0.68 by ($0.07). The firm had revenue of $12.02 billion for the quarter, compared to the consensus estimate of $11.83 billion. Enterprise Products Partners had a return on equity of 19.40% and a net margin of 10.92%.The firm’s quarterly revenue was down 12.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.65 EPS. Research analysts expect that Enterprise Products Partners will post 2.9 EPS for the current year.

Wall Street Analyst Weigh In

EPD has been the subject of a number of recent research reports. The Goldman Sachs Group reissued a “neutral” rating and issued a $32.00 price objective on shares of Enterprise Products Partners in a report on Friday, December 19th. Raymond James Financial downgraded Enterprise Products Partners from a “strong-buy” rating to an “outperform” rating and set a $36.00 price target on the stock. in a research report on Monday. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $35.00 price objective on shares of Enterprise Products Partners in a report on Monday, December 1st. Stifel Nicolaus upped their target price on Enterprise Products Partners from $35.00 to $38.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Finally, Morgan Stanley lowered Enterprise Products Partners from an “equal weight” rating to an “underweight” rating and set a $34.00 target price on the stock. in a report on Thursday, December 18th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Enterprise Products Partners has a consensus rating of “Moderate Buy” and a consensus target price of $35.27.

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.