Enterprise Products Partners L.P. (NYSE:EPD) Announces Dividend Increase – $0.56 Per Share

Enterprise Products Partners L.P. (NYSE:EPD) declared a quarterly dividend on Tuesday, July 7th. Investors of record on Friday, July 31st will be given a dividend of 0.56 per share by the oil and gas producer on Friday, August 14th. This represents a c) annualized dividend and a yield of 6.0%. The ex-dividend date of this dividend is Friday, July 31st. This is a 1.8% increase from Enterprise Products Partners’s previous quarterly dividend of $0.55.

Enterprise Products Partners has raised its dividend 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 dividend payout ratio of 73.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect Enterprise Products Partners to earn $3.29 per share next year, which means the company should continue to be able to cover its $2.20 annual dividend with an expected future payout ratio of 66.9%.

Enterprise Products Partners Price Performance

NYSE EPD opened at $37.65 on Wednesday. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.91 and a quick ratio of 0.61. The firm has a market capitalization of $81.38 billion, a price-to-earnings ratio of 13.94, a price-to-earnings-growth ratio of 1.29 and a beta of 0.49. The company has a 50 day simple moving average of $37.72 and a 200-day simple moving average of $36.21. Enterprise Products Partners has a 52-week low of $30.01 and a 52-week high of $40.17.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data on Monday, April 27th. The oil and gas producer reported $0.68 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.03). The company had revenue of $14.39 billion during the quarter, compared to analyst estimates of $13.62 billion. Enterprise Products Partners had a net margin of 11.45% and a return on equity of 19.53%. The firm’s quarterly revenue was down 6.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.64 EPS. Equities research analysts predict that Enterprise Products Partners will post 3.01 earnings per share for the current fiscal year.

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.