Enterprise Products Partners L.P. (NYSE:EPD) Declares Quarterly Dividend of $0.54

Enterprise Products Partners L.P. (NYSE:EPD) declared a quarterly dividend on Wednesday, January 8th,RTT News reports. Shareholders 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 yield of 6.70%. This is a boost from Enterprise Products Partners’s previous quarterly dividend of $0.53.

Enterprise Products Partners has raised its dividend by an average of 4.9% per year over the last three years and has raised its dividend every year for the last 27 years. Enterprise Products Partners has a dividend payout ratio of 69.8% meaning its dividend is sufficiently covered by earnings. 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 Performance

Enterprise Products Partners stock opened at $31.94 on Wednesday. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05. The company has a market capitalization of $69.23 billion, a P/E ratio of 11.96, a PEG ratio of 1.67 and a beta of 1.09. The stock’s 50 day moving average is $31.52 and its 200 day moving average is $30.02. Enterprise Products Partners has a twelve month low of $26.12 and a twelve month high of $34.63.

Enterprise Products Partners (NYSE:EPD) last released its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.01). The business had revenue of $13.78 billion during the quarter, compared to the consensus estimate of $13.87 billion. Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. The business’s revenue was up 14.8% compared to the same quarter last year. During the same period last year, the company posted $0.60 earnings per share. On average, equities research analysts predict that Enterprise Products Partners will post 2.69 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Bank of America assumed coverage on Enterprise Products Partners in a report on Thursday, October 17th. They set a “buy” rating and a $35.00 price target on the stock. Truist Financial increased their price target on Enterprise Products Partners from $37.00 to $40.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Wells Fargo & Company cut Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price target on the stock. in a report on Wednesday, December 18th. US Capital Advisors raised Enterprise Products Partners from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, October 28th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $36.00 target price on shares of Enterprise Products Partners in a report on Wednesday, October 30th. Two analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Enterprise Products Partners has an average rating of “Moderate Buy” and an average target price of $34.50.

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.