Enterprise Products Partners L.P. (EPD) To Go Ex-Dividend on July 31st

Enterprise Products Partners L.P. (NYSE:EPD) announced a quarterly dividend on Tuesday, July 7th. Stockholders of record on Friday, July 31st will be given a dividend of 0.56 per share by the oil and gas producer on Friday, August 14th. This represents a c) dividend on an annualized basis and a dividend yield of 5.8%. The ex-dividend date of this dividend is Friday, July 31st. This is a 1.8% increase from Enterprise Products Partners’s previous quarterly dividend of $0.55.

Enterprise Products Partners has raised its dividend payment by an average of 0.0%annually over the last three years and has increased its dividend every year for the last 28 years. Enterprise Products Partners has a dividend payout ratio of 74.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect Enterprise Products Partners to earn $3.23 per share next year, which means the company should continue to be able to cover its $2.24 annual dividend with an expected future payout ratio of 69.3%.

Enterprise Products Partners Stock Performance

Enterprise Products Partners stock opened at $38.66 on Wednesday. The firm has a market capitalization of $83.58 billion, a PE ratio of 14.32, a price-to-earnings-growth ratio of 1.38 and a beta of 0.49. Enterprise Products Partners has a one year low of $30.01 and a one year high of $40.17. The stock’s 50 day moving average price is $37.62 and its 200 day moving average price is $36.87. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.61 and a current ratio of 0.91.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data on Monday, April 27th. The oil and gas producer reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.03). The firm had revenue of $14.39 billion for the quarter, compared to analysts’ expectations of $13.62 billion. Enterprise Products Partners had a net margin of 11.45% and a return on equity of 19.53%. The company’s revenue for the quarter was down 6.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.64 EPS. As a group, sell-side analysts expect that Enterprise Products Partners will post 2.93 EPS for the current fiscal year.

Hedge Funds Weigh In On Enterprise Products Partners

Large investors have recently modified their holdings of the stock. Palisade Asset Management LLC bought a new position in Enterprise Products Partners during the 3rd quarter worth approximately $31,000. Bravera Wealth grew its position in shares of Enterprise Products Partners by 666.7% in the 2nd quarter. Bravera Wealth now owns 1,035 shares of the oil and gas producer’s stock worth $38,000 after acquiring an additional 900 shares in the last quarter. Daytona Street Capital LLC bought a new stake in shares of Enterprise Products Partners in the 4th quarter valued at approximately $42,000. Groesbeck Investment Management Corp NJ acquired a new stake in shares of Enterprise Products Partners during the 4th quarter valued at approximately $45,000. Finally, Kestra Investment Management LLC acquired a new stake in shares of Enterprise Products Partners during the 2nd quarter valued at approximately $48,000. Institutional investors own 26.07% of the company’s stock.

About Enterprise Products Partners

Enterprise Products Partners L.P. (NYSE: EPD) is a Houston-based master limited partnership that provides midstream energy services across North America. The company owns and operates an extensive network of pipelines, storage facilities, processing plants and export terminals that transport and handle natural gas, natural gas liquids (NGLs), crude oil and refined and petrochemical products. Its core activities include gathering and transportation, fractionation of NGLs, natural gas processing, crude oil and condensate pipelines, and marine and terminal services that enable domestic distribution and exports.

Enterprise serves a diverse set of customers including producers, refiners, petrochemical companies, marketers and end users.