Enterprise Products Partners L.P. (NYSE:EPD) to Issue $0.54 Quarterly Dividend

Enterprise Products Partners L.P. (NYSE:EPD) announced a quarterly dividend on Tuesday, April 8th, Wall Street Journal reports. Stockholders of record on Wednesday, April 30th will be given a dividend of 0.535 per share by the oil and gas producer on Wednesday, May 14th. This represents a $2.14 annualized dividend and a dividend yield of 7.40%. The ex-dividend date is Wednesday, April 30th.

Enterprise Products Partners has raised its dividend by an average of 5.0% per year over the last three years and has raised its dividend annually for the last 27 consecutive years. Enterprise Products Partners has a payout ratio of 69.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Enterprise Products Partners to earn $3.05 per share next year, which means the company should continue to be able to cover its $2.14 annual dividend with an expected future payout ratio of 70.2%.

Enterprise Products Partners Stock Performance

Enterprise Products Partners stock opened at $28.91 on Wednesday. The stock has a fifty day moving average price of $33.15 and a 200 day moving average price of $31.86. The company has a current ratio of 1.07, a quick ratio of 0.83 and a debt-to-equity ratio of 1.05. Enterprise Products Partners has a 52 week low of $27.37 and a 52 week high of $34.63. The firm has a market capitalization of $62.61 billion, a P/E ratio of 10.75, a PEG ratio of 1.37 and a beta of 0.78.

Enterprise Products Partners (NYSE:EPD) last posted its quarterly earnings data on Tuesday, February 4th. The oil and gas producer reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.05. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The company had revenue of $14.20 billion during the quarter, compared to the consensus estimate of $14.07 billion. During the same quarter in the prior year, the company posted $0.72 EPS. The company’s quarterly revenue was down 2.9% compared to the same quarter last year. Equities research analysts anticipate that Enterprise Products Partners will post 2.9 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on EPD shares. Wells Fargo & Company downgraded shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 price target on the stock. in a research note on Wednesday, December 18th. Wolfe Research cut Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a report on Friday, January 10th. Morgan Stanley upped their price target on Enterprise Products Partners from $36.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 11th. Scotiabank lifted their price objective on Enterprise Products Partners from $33.00 to $35.00 and gave the company a “sector perform” rating in a research note on Thursday, March 6th. Finally, Barclays boosted their target price on Enterprise Products Partners from $35.00 to $37.00 and gave the stock an “overweight” rating in a report on Friday, March 14th. Five analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Enterprise Products Partners presently has an average rating of “Moderate Buy” and an average target price of $36.89.

Institutional Investors Weigh In On Enterprise Products Partners

A hedge fund recently raised its stake in Enterprise Products Partners stock. Brighton Jones LLC raised its position in Enterprise Products Partners L.P. (NYSE:EPD) by 19.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,620 shares of the oil and gas producer’s stock after acquiring an additional 5,425 shares during the quarter. Brighton Jones LLC’s holdings in Enterprise Products Partners were worth $1,023,000 at the end of the most recent quarter. Institutional investors and hedge funds own 26.07% of the company’s stock.

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.