Enterprise Products Partners L.P. (NYSE:EPD) declared a quarterly dividend on Thursday, October 12th, RTT News reports. Shareholders of record on Tuesday, October 31st will be given a dividend of 0.4225 per share by the oil and gas producer on Tuesday, November 7th. This represents a $1.69 annualized dividend and a yield of 6.34%. This is a boost from Enterprise Products Partners L.P.’s previous quarterly dividend of $0.42.

Enterprise Products Partners L.P. has decreased its dividend by an average of 1.8% annually over the last three years and has increased its dividend annually for the last 18 consecutive years. Enterprise Products Partners L.P. has a dividend payout ratio of 125.4% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Enterprise Products Partners L.P. to earn $1.50 per share next year, which means the company may not be able to cover its $1.68 annual dividend with an expected future payout ratio of 112.0%.

Enterprise Products Partners L.P. (NYSE EPD) traded down 0.52% during trading on Thursday, reaching $26.66. The company’s stock had a trading volume of 4,367,675 shares. Enterprise Products Partners L.P. has a 52 week low of $24.01 and a 52 week high of $30.25. The firm has a 50 day moving average of $26.10 and a 200 day moving average of $26.75. The stock has a market capitalization of $57.27 billion, a price-to-earnings ratio of 20.98 and a beta of 0.90.

Enterprise Products Partners L.P. (NYSE:EPD) last posted its quarterly earnings data on Thursday, August 3rd. The oil and gas producer reported $0.30 EPS for the quarter, missing the Zacks’ consensus estimate of $0.33 by ($0.03). Enterprise Products Partners L.P. had a net margin of 10.28% and a return on equity of 12.04%. The company had revenue of $6.61 billion for the quarter, compared to analyst estimates of $6.44 billion. During the same quarter in the prior year, the business earned $0.27 EPS. Enterprise Products Partners L.P.’s revenue was up 17.6% compared to the same quarter last year. Analysts expect that Enterprise Products Partners L.P. will post $1.34 EPS for the current year.

EPD has been the topic of a number of research analyst reports. Jefferies Group LLC lowered their price objective on shares of Enterprise Products Partners L.P. from $33.00 to $30.00 and set a “buy” rating on the stock in a research note on Friday, September 1st. Morgan Stanley upgraded shares of Enterprise Products Partners L.P. from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $26.37 to $26.50 in a research note on Thursday, June 15th. Stifel Nicolaus reiterated a “buy” rating and set a $30.00 price objective on shares of Enterprise Products Partners L.P. in a research note on Friday, September 15th. Scotiabank set a $33.00 price objective on shares of Enterprise Products Partners L.P. and gave the company a “buy” rating in a research note on Friday, July 21st. Finally, BidaskClub upgraded shares of Enterprise Products Partners L.P. from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 27th. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Enterprise Products Partners L.P. currently has an average rating of “Buy” and an average price target of $30.99.

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About Enterprise Products Partners L.P.

Enterprise Products Partners L.P. (Enterprise) is a provider of midstream energy services to producers and consumers of natural gas, natural gas liquids (NGLs), crude oil, petrochemicals and refined products in North America. The Company’s segments include NGL Pipelines & Services; Crude Oil Pipelines & Services; Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.

Dividend History for Enterprise Products Partners L.P. (NYSE:EPD)

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