Enterprise Products Partners L.P. (EPD) to Issue Quarterly Dividend of $0.53 on November 14th

Enterprise Products Partners L.P. (NYSE:EPDGet Free Report) declared a quarterly dividend on Wednesday, October 2nd, Zacks reports. Shareholders of record on Thursday, October 31st will be given a dividend of 0.525 per share by the oil and gas producer on Thursday, November 14th. This represents a $2.10 dividend on an annualized basis and a yield of 7.08%. The ex-dividend date of this dividend is Thursday, October 31st.

Enterprise Products Partners has increased its dividend by an average of 3.6% per year over the last three years and has increased its dividend every year for the last 27 years. Enterprise Products Partners has a payout ratio of 73.2% 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 Performance

EPD stock opened at $29.65 on Friday. The firm has a market cap of $64.39 billion, a P/E ratio of 11.63, a P/E/G ratio of 1.50 and a beta of 1.03. The stock’s 50 day simple moving average is $29.14 and its 200 day simple moving average is $28.95. The company has a current ratio of 0.91, a quick ratio of 0.68 and a debt-to-equity ratio of 0.98. Enterprise Products Partners has a 12-month low of $25.61 and a 12-month high of $30.05.

Enterprise Products Partners (NYSE:EPDGet Free Report) last posted its quarterly earnings results on Tuesday, July 30th. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.02). The business had revenue of $13.48 billion during the quarter, compared to the consensus estimate of $14.23 billion. Enterprise Products Partners had a return on equity of 20.13% and a net margin of 10.48%. The company’s quarterly revenue was up 26.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.57 earnings per share. As a group, equities research analysts predict that Enterprise Products Partners will post 2.72 EPS for the current year.

Analyst Upgrades and Downgrades

EPD has been the topic of several recent research reports. StockNews.com downgraded Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. Truist Financial raised their target price on Enterprise Products Partners from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Finally, Morgan Stanley lowered their price target on shares of Enterprise Products Partners from $35.00 to $34.00 and set an “equal weight” rating for the company in a research report on Monday, June 10th. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $33.08.

View Our Latest Research Report on Enterprise Products Partners

Enterprise Products Partners Company Profile

(Get Free Report)

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.

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Dividend History for Enterprise Products Partners (NYSE:EPD)

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