Enterprise Products Partners L.P. (NYSE:EPD) Increases Dividend to $0.53 Per Share

Enterprise Products Partners L.P. (NYSE:EPD) announced a quarterly dividend on Wednesday, July 10th, RTT News reports. Shareholders of record on Wednesday, July 31st will be paid a dividend of 0.525 per share by the oil and gas producer on Wednesday, August 14th. This represents a $2.10 dividend on an annualized basis and a yield of 7.20%. This is an increase from Enterprise Products Partners’s previous quarterly dividend of $0.52.

Enterprise Products Partners has raised its dividend payment by an average of 3.6% annually over the last three years and has increased its dividend annually for the last 27 consecutive years. Enterprise Products Partners has a payout ratio of 71.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Enterprise Products Partners to earn $2.86 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 72.0%.

Enterprise Products Partners Trading Down 0.1 %

Shares of NYSE EPD traded down $0.03 during trading hours on Wednesday, hitting $29.17. 2,626,422 shares of the company traded hands, compared to its average volume of 4,399,519. The company’s 50 day moving average price is $28.55 and its 200 day moving average price is $28.04. Enterprise Products Partners has a 12 month low of $25.61 and a 12 month high of $29.99. The stock has a market capitalization of $63.33 billion, a price-to-earnings ratio of 11.43, a price-to-earnings-growth ratio of 1.36 and a beta of 1.04. The company has a current ratio of 0.93, a quick ratio of 0.68 and a debt-to-equity ratio of 0.99.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data on Tuesday, April 30th. The oil and gas producer reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.02. Enterprise Products Partners had a net margin of 10.76% and a return on equity of 19.73%. The company had revenue of $14.76 billion for the quarter, compared to analyst estimates of $13.82 billion. During the same period in the prior year, the company posted $0.64 EPS. The firm’s revenue for the quarter was up 18.6% on a year-over-year basis. On average, equities research analysts anticipate that Enterprise Products Partners will post 2.72 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on EPD shares. Wells Fargo & Company boosted their price objective on shares of Enterprise Products Partners from $32.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday, April 4th. Royal Bank of Canada reissued an “outperform” rating and set a $35.00 price target on shares of Enterprise Products Partners in a research report on Friday, April 5th. Scotiabank lifted their price objective 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. Mizuho reiterated a “buy” rating and set a $34.00 target price on shares of Enterprise Products Partners in a report on Thursday, April 4th. Finally, Barclays upped their price target on shares of Enterprise Products Partners from $30.00 to $31.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 26th. Two equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price 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.