Enterprise Products Partners L.P. (NYSE:EPD) Announces Quarterly Dividend of $0.52

Enterprise Products Partners L.P. (NYSE:EPD) announced a quarterly dividend on Friday, April 5th, RTT News reports. Stockholders of record on Tuesday, April 30th will be given a dividend of 0.515 per share by the oil and gas producer on Tuesday, May 14th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 7.09%. The ex-dividend date of this dividend is Monday, April 29th.

Enterprise Products Partners has raised its dividend payment by an average of 3.6% per year over the last three years and has raised its dividend every year for the last 27 years. Enterprise Products Partners has a payout ratio of 72.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect Enterprise Products Partners to earn $2.78 per share next year, which means the company should continue to be able to cover its $2.06 annual dividend with an expected future payout ratio of 74.1%.

Enterprise Products Partners Stock Up 0.4 %

Enterprise Products Partners stock opened at $29.06 on Friday. Enterprise Products Partners has a twelve month low of $25.19 and a twelve month high of $29.99. The stock’s fifty day simple moving average is $28.58 and its 200-day simple moving average is $27.33. The company has a current ratio of 0.93, a quick ratio of 0.68 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $63.01 billion, a P/E ratio of 11.53 and a beta of 1.02.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data on Thursday, February 1st. The oil and gas producer reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.04. The business had revenue of $14.62 billion for the quarter, compared to analyst estimates of $12.43 billion. Enterprise Products Partners had a return on equity of 19.65% and a net margin of 11.12%. The company’s revenue was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.65 earnings per share. As a group, equities analysts expect that Enterprise Products Partners will post 2.63 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on EPD shares. Truist Financial increased their target price on Enterprise Products Partners from $31.00 to $33.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. Royal Bank of Canada reissued an “outperform” rating and issued a $35.00 target price on shares of Enterprise Products Partners in a report on Friday, April 5th. StockNews.com raised Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 9th. Scotiabank increased their target price on Enterprise Products Partners from $31.00 to $32.00 and gave the company a “sector outperform” rating in a report on Thursday, April 4th. Finally, Barclays upped their price objective on shares of Enterprise Products Partners from $30.00 to $31.00 and gave the company an “overweight” rating in a research note on Tuesday, March 26th. Two equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $32.58.

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.