Enterprise Products Partners L.P. (EPD) to Issue Quarterly Dividend of $0.54 on February 14th

Enterprise Products Partners L.P. (NYSE:EPD) announced a quarterly dividend on Wednesday, January 8th,RTT News reports. Stockholders 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 dividend on an annualized basis and a dividend yield of 6.60%. The ex-dividend date of this dividend is Friday, January 31st. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53.

Enterprise Products Partners has increased its dividend by an average of 4.9% annually 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 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 Stock Up 1.5 %

Shares of Enterprise Products Partners stock opened at $32.42 on Friday. The company has a market capitalization of $70.27 billion, a P/E ratio of 12.14, a PEG ratio of 1.66 and a beta of 1.09. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83. Enterprise Products Partners has a 1-year low of $26.12 and a 1-year high of $34.63. The business’s fifty day moving average price is $31.65 and its two-hundred day moving average price is $30.05.

Enterprise Products Partners (NYSE:EPD) last announced its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.01). Enterprise Products Partners had a return on equity of 20.31% and a net margin of 10.32%. The firm had revenue of $13.78 billion for the quarter, compared to the consensus estimate of $13.87 billion. During the same period in the previous year, the firm earned $0.60 EPS. Enterprise Products Partners’s revenue for the quarter was up 14.8% on a year-over-year basis. As a group, research analysts forecast that Enterprise Products Partners will post 2.69 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Bank of America began coverage on shares of Enterprise Products Partners in a report on Thursday, October 17th. They issued a “buy” rating and a $35.00 price objective on the stock. US Capital Advisors raised Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, October 28th. Royal Bank of Canada reiterated an “outperform” rating and issued a $36.00 target price on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. Truist Financial boosted their target price on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Finally, Wells Fargo & Company cut Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price objective for the company. in a research report on Wednesday, December 18th. Two research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus 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.