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

Enterprise Products Partners L.P. (NYSE:EPD) announced a quarterly dividend on Thursday, October 8th. Investors of record on Friday, October 30th will be paid a dividend of $0.56 per share by the oil and gas producer on Friday, November 13th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 6.1%. The ex-dividend date of this dividend is Friday, October 30th.

Enterprise Products Partners has increased its dividend payment by an average of 0.0%per year over the last three years and has raised its dividend every year for the last 28 years. Enterprise Products Partners has a dividend payout ratio of 74.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect Enterprise Products Partners to earn $3.22 per share next year, which means the company should continue to be able to cover its $2.24 annual dividend with an expected future payout ratio of 69.6%.

Enterprise Products Partners Stock Down 0.3%

EPD stock opened at $36.81 on Friday. The company has a market capitalization of $79.50 billion, a price-to-earnings ratio of 12.78, a price-to-earnings-growth ratio of 1.35 and a beta of 0.50. The company has a current ratio of 0.93, a quick ratio of 0.66 and a debt-to-equity ratio of 1.00. Enterprise Products Partners has a 52 week low of $30.01 and a 52 week high of $40.17. The firm’s 50-day moving average is $38.10 and its two-hundred day moving average is $37.93.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Wednesday, July 29th. The oil and gas producer reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.09. Enterprise Products Partners had a return on equity of 20.67% and a net margin of 10.79%.The company had revenue of $18.27 billion for the quarter, compared to analysts’ expectations of $13.69 billion. During the same period last year, the firm earned $0.66 EPS. The firm’s revenue for the quarter was up 60.8% on a year-over-year basis. On average, analysts forecast that Enterprise Products Partners will post 3.02 earnings per share for the current fiscal year.

Enterprise Products Partners Company Profile

Enterprise Products Partners L.P. is a publicly traded master limited partnership that owns and operates midstream energy infrastructure in the United States. The company transports, stores, processes and exports oil, natural gas, natural gas liquids (NGLs), refined products and petrochemicals.

Its operations include pipelines, natural gas processing plants, NGL fractionation facilities, underground storage, marine terminals and export infrastructure. Enterprise serves producers, refiners, petrochemical manufacturers, utilities and other energy customers by connecting major producing regions with domestic and international markets.

Enterprise Products Partners was founded in 1968 and is headquartered in Houston, Texas.