Enterprise Products Partners L.P. (NYSE:EPD) announced a quarterly dividend on Tuesday, October 12th, RTT News reports. Investors of record on Friday, October 29th will be given a dividend of 0.45 per share by the oil and gas producer on Friday, November 12th. This represents a $1.80 annualized dividend and a dividend yield of 7.49%. The ex-dividend date is Thursday, October 28th.
Enterprise Products Partners has raised its dividend payment by 6.8% over the last three years and has increased its dividend annually for the last 1 consecutive years. Enterprise Products Partners has a payout ratio of 90.4% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities research analysts expect Enterprise Products Partners to earn $2.16 per share next year, which means the company should continue to be able to cover its $1.78 annual dividend with an expected future payout ratio of 82.4%.
NYSE EPD opened at $24.02 on Thursday. The stock has a market capitalization of $52.49 billion, a PE ratio of 13.80 and a beta of 1.40. The business has a 50 day simple moving average of $22.34 and a two-hundred day simple moving average of $23.17. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.98 and a quick ratio of 0.66. Enterprise Products Partners has a 1-year low of $16.01 and a 1-year high of $25.69.
In other news, CEO Aj Teague acquired 23,300 shares of Enterprise Products Partners stock in a transaction on Monday, September 20th. The shares were bought at an average cost of $21.41 per share, for a total transaction of $498,853.00. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John R. Rutherford acquired 10,000 shares of Enterprise Products Partners stock in a transaction on Thursday, August 26th. The shares were purchased at an average price of $22.19 per share, for a total transaction of $221,900.00. The disclosure for this purchase can be found here. 37.50% of the stock is currently owned by company insiders.
A hedge fund recently raised its stake in Enterprise Products Partners stock. Morgan Stanley raised its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 17.6% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 19,946,631 shares of the oil and gas producer’s stock after buying an additional 2,986,213 shares during the quarter. Morgan Stanley owned 0.91% of Enterprise Products Partners worth $481,312,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 28.80% of the company’s stock.
EPD has been the subject of several research analyst reports. Bank of America assumed coverage on Enterprise Products Partners in a report on Tuesday, September 28th. They set a “buy” rating for the company. Wells Fargo & Company raised their price objective on Enterprise Products Partners from $28.00 to $30.00 and gave the company an “overweight” rating in a research note on Thursday, June 24th. Mizuho raised their price objective on Enterprise Products Partners from $28.00 to $29.00 and gave the company a “buy” rating in a research note on Tuesday, October 5th. Zacks Investment Research lowered Enterprise Products Partners from a “hold” rating to a “sell” rating and set a $23.00 price objective for the company. in a research note on Tuesday, September 28th. Finally, Raymond James raised their price objective on Enterprise Products Partners from $26.00 to $28.00 and gave the company a “strong-buy” rating in a research note on Wednesday, July 21st. One equities research analyst has rated the stock with a sell rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $26.80.
About Enterprise Products Partners
Enterprise Products Partners LP operates as holding company, which engages in the production and trade of natural gas and petrochemicals. It operates through the following segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.
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