Enterprise Products Partners L.P. (NYSE:EPD) Announces Dividend Increase – $0.54 Per Share

Enterprise Products Partners L.P. (NYSE:EPD) announced a quarterly dividend on Wednesday, January 8th,RTT News reports. Investors 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 annualized dividend and a dividend yield of 6.60%. 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 raised its dividend annually for the last 27 consecutive years. Enterprise Products Partners has a payout ratio of 69.8% indicating that its dividend is sufficiently covered by earnings. Research 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 Price Performance

Shares of EPD stock opened at $32.42 on Thursday. The stock has a 50 day moving average of $31.58 and a two-hundred day moving average of $30.03. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05. The company has a market capitalization of $70.27 billion, a P/E ratio of 12.14, a P/E/G ratio of 1.67 and a beta of 1.09. Enterprise Products Partners has a 12 month low of $26.12 and a 12 month high of $34.63.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share 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 net margin of 10.32% and a return on equity of 20.31%. The business’s revenue was up 14.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.60 EPS. As a group, equities analysts expect that Enterprise Products Partners will post 2.69 EPS for the current year.

Analyst Ratings Changes

Several equities analysts recently issued reports on EPD shares. Wells Fargo & Company downgraded shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price target for the company. in a report on Wednesday, December 18th. Royal Bank of Canada reissued an “outperform” rating and issued a $36.00 target price on shares of Enterprise Products Partners in a report on Wednesday, October 30th. Truist Financial raised their price target on Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a report on Friday, January 3rd. US Capital Advisors raised Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. Finally, Bank of America started coverage on Enterprise Products Partners in a research note on Thursday, October 17th. They issued 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 issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Enterprise Products Partners presently has an average rating of “Moderate Buy” and a consensus price target of $34.50.

About Enterprise Products Partners

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.