Enterprise Products Partners L.P. (NYSE:EPD) Declares Quarterly Dividend of $0.53

Enterprise Products Partners L.P. (NYSE:EPD) announced a quarterly dividend on Wednesday, July 10th, RTT News reports. Investors of record on Wednesday, July 31st will be given a dividend of 0.525 per share by the oil and gas producer on Wednesday, August 14th. This represents a $2.10 annualized dividend and a yield of 7.07%. The ex-dividend date is Wednesday, July 31st. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.52.

Enterprise Products Partners has increased its dividend by an average of 3.6% per year over the last three years and has increased its dividend annually for the last 27 consecutive years. Enterprise Products Partners has a dividend payout ratio of 73.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Enterprise Products Partners to earn $2.87 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 73.2%.

Enterprise Products Partners Stock Down 0.8 %

EPD opened at $29.70 on Tuesday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.68 and a current ratio of 0.93. The business has a 50 day moving average price of $28.88 and a 200 day moving average price of $28.35. The firm has a market cap of $64.50 billion, a P/E ratio of 11.65, a price-to-earnings-growth ratio of 1.40 and a beta of 1.04. Enterprise Products Partners has a twelve month low of $25.61 and a twelve month high of $30.05.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings results on Tuesday, April 30th. The oil and gas producer reported $0.66 EPS for the quarter, topping the consensus estimate of $0.64 by $0.02. The company had revenue of $14.76 billion for the quarter, compared to the consensus estimate of $13.82 billion. Enterprise Products Partners had a return on equity of 19.73% and a net margin of 10.76%. The company’s revenue for the quarter was up 18.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.64 EPS. Research analysts forecast that Enterprise Products Partners will post 2.71 EPS for the current year.

Analysts Set New Price Targets

EPD has been the topic of several recent analyst reports. Wells Fargo & Company lifted their price target on Enterprise Products Partners from $32.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, April 4th. Scotiabank boosted their price objective on Enterprise Products Partners from $31.00 to $32.00 and gave the company a “sector outperform” rating in a research report on Thursday, April 4th. StockNews.com upgraded Enterprise Products Partners from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 4th. Royal Bank of Canada restated an “outperform” rating and set a $35.00 price objective on shares of Enterprise Products Partners in a research report on Friday, April 5th. Finally, Mizuho restated a “buy” rating and set a $34.00 price objective on shares of Enterprise Products Partners in a research report on Thursday, April 4th. Two equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $32.77.

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.