Enterprise Products Partners L.P. (EPD) to Issue Quarterly Dividend of $0.52 on May 14th

Enterprise Products Partners L.P. (NYSE:EPD) declared a quarterly dividend on Friday, April 5th, RTT News reports. Shareholders 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 annualized dividend and a yield of 7.09%. The ex-dividend date is Monday, April 29th.

Enterprise Products Partners has increased its dividend by an average of 3.6% per year over the last three years and has raised its dividend annually for the last 27 consecutive years. Enterprise Products Partners has a payout ratio of 72.3% indicating that its dividend is sufficiently covered by earnings. Equities 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 Trading Up 0.4 %

EPD opened at $29.06 on Friday. The stock’s fifty day moving average is $28.58 and its two-hundred day moving average is $27.33. The company has a market capitalization of $63.01 billion, a P/E ratio of 11.53 and a beta of 1.02. Enterprise Products Partners has a 52 week low of $25.19 and a 52 week high of $29.99. The company has a quick ratio of 0.68, a current ratio of 0.93 and a debt-to-equity ratio of 0.95.

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

Analysts Set New Price Targets

EPD has been the topic of several recent research reports. Wells Fargo & Company increased their target price on Enterprise Products Partners from $32.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday, April 4th. Barclays increased their target price on Enterprise Products Partners from $30.00 to $31.00 and gave the company an “overweight” rating in a research report on Tuesday, March 26th. Mizuho reaffirmed a “buy” rating and set a $34.00 target price on shares of Enterprise Products Partners in a research report on Thursday, April 4th. 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 research report on Wednesday, February 21st. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $35.00 price objective on shares of Enterprise Products Partners in a research report on Friday, April 5th. Two investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $32.58.

Enterprise Products Partners Company Profile

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.