Enterprise Products Partners L.P. (NYSE:EPD) Increases Dividend to $0.54 Per Share

Enterprise Products Partners L.P. (NYSE:EPD) declared a quarterly dividend on Wednesday, January 8th,RTT News reports. Shareholders of record on Friday, January 31st will be given a dividend of 0.535 per share by the oil and gas producer on Friday, February 14th. This represents a $2.14 dividend on an annualized basis and a yield of 6.60%. The ex-dividend date of this dividend is Friday, January 31st. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.53.

Enterprise Products Partners has raised its dividend by an average of 4.9% annually over the last three years and has increased its dividend every year for the last 27 years. Enterprise Products Partners has a dividend payout ratio of 69.8% meaning 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 $2.10 annual dividend with an expected future payout ratio of 73.9%.

Enterprise Products Partners Stock Up 1.5 %

EPD stock opened at $32.42 on Friday. The business has a 50-day moving average of $31.65 and a 200-day moving average of $30.05. Enterprise Products Partners has a fifty-two week low of $26.12 and a fifty-two week high of $34.63. The stock has a market capitalization of $70.27 billion, a P/E ratio of 12.14, a P/E/G ratio of 1.66 and a beta of 1.09. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83.

Enterprise Products Partners (NYSE:EPD) last announced its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $13.87 billion. Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. The business’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.60 EPS. On average, sell-side analysts anticipate that Enterprise Products Partners will post 2.69 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently commented on EPD shares. Truist Financial increased their price target on Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. US Capital Advisors raised shares of Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, October 28th. Royal Bank of Canada reiterated an “outperform” rating and set a $36.00 price target on shares of Enterprise Products Partners in a report on Wednesday, October 30th. Wells Fargo & Company lowered shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price objective on the stock. in a research report on Wednesday, December 18th. Finally, Bank of America assumed coverage on shares of Enterprise Products Partners in a report on Thursday, October 17th. They set a “buy” rating and a $35.00 target price for the company. Two investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.50.

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.