Enterprise Products Partners L.P. (NYSE:EPD) Declares $0.45 Quarterly Dividend

Share on StockTwits

Enterprise Products Partners L.P. (NYSE:EPD) announced a quarterly dividend on Thursday, April 8th, RTT News reports. Stockholders of record on Friday, April 30th will be given a dividend of 0.45 per share by the oil and gas producer on Wednesday, May 12th. This represents a $1.80 annualized dividend and a dividend yield of 7.98%.

Enterprise Products Partners has raised its dividend payment by 6.8% over the last three years and has raised its dividend annually for the last 1 consecutive years. Enterprise Products Partners has a payout ratio of 91.4% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities analysts expect Enterprise Products Partners to earn $1.99 per share next year, which means the company should continue to be able to cover its $1.80 annual dividend with an expected future payout ratio of 90.5%.

EPD stock opened at $22.57 on Thursday. The company’s 50-day simple moving average is $22.47 and its 200-day simple moving average is $20.06. The company has a quick ratio of 0.71, a current ratio of 1.12 and a debt-to-equity ratio of 1.09. Enterprise Products Partners has a 52-week low of $14.90 and a 52-week high of $23.71. The firm has a market cap of $49.24 billion, a P/E ratio of 10.96 and a beta of 1.38.

Enterprise Products Partners (NYSE:EPD) last posted its earnings results on Tuesday, February 2nd. The oil and gas producer reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.35). Enterprise Products Partners had a return on equity of 17.76% and a net margin of 16.10%. The firm had revenue of $7.04 billion for the quarter, compared to analysts’ expectations of $7.24 billion. During the same period in the previous year, the company earned $0.50 earnings per share. The company’s revenue was down 12.0% compared to the same quarter last year. On average, analysts anticipate that Enterprise Products Partners will post 2.09 earnings per share for the current fiscal year.

Several equities research analysts have recently issued reports on the stock. Mizuho increased their target price on shares of Enterprise Products Partners from $24.00 to $27.00 and gave the stock a “buy” rating in a research note on Wednesday, January 20th. TD Securities initiated coverage on shares of Enterprise Products Partners in a research report on Tuesday. They set a “buy” rating and a $28.00 price target for the company. Finally, Morgan Stanley upped their price target on shares of Enterprise Products Partners from $29.00 to $33.00 and gave the stock an “overweight” rating in a research report on Monday, March 29th. Fourteen investment analysts have rated the stock with a buy rating, The stock currently has a consensus rating of “Buy” and an average target price of $25.77.

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. The company operates through four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.

Further Reading: How accurate is the Rule of 72?

Dividend History for Enterprise Products Partners (NYSE:EPD)

Receive News & Ratings for Enterprise Products Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Enterprise Products Partners and related companies with MarketBeat.com's FREE daily email newsletter.