Enterprise Products Partners L.P. (NYSE:EPD) Plans Quarterly Dividend of $0.56

Key Points

• Enterprise Products Partners declared a quarterly dividend of $0.56 per share, payable November 13 to shareholders of record October 30. The dividend equates to $2.24 annually and a 6.1% yield.
• The company has raised its dividend for 28 consecutive years, with a 74.4% current payout ratio and an expected future payout ratio of 69.6%, indicating continued earnings coverage.
• Enterprise reported quarterly EPS of $0.84, exceeding the $0.75 analyst consensus, while revenue rose 60.8% year over year to $18.27 billion. Analysts maintain a consensus “Hold” rating with an average price target of $40.12.

Enterprise Products Partners L.P. (NYSE:EPD - Get Free Report) announced a quarterly dividend on Thursday, October 8th. Investors of record on Friday, October 30th will be paid a dividend of $0.56 per share by the oil and gas producer on Friday, November 13th. This represents a $2.24 annualized dividend and a yield of 6.1%. The ex-dividend date is Friday, October 30th.

Enterprise Products Partners has increased its dividend by an average of 0.0%per year over the last three years and has raised 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. Equities analysts expect Enterprise Products Partners to earn $3.22 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 69.6%.

Enterprise Products Partners Stock Performance

NYSE:EPD opened at $36.81 on Friday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.66 and a current ratio of 0.93. Enterprise Products Partners has a fifty-two week low of $30.01 and a fifty-two week high of $40.17. The company has a 50 day simple moving average of $38.10 and a two-hundred day simple moving average of $37.93. The company has a market capitalization of $79.50 billion, a PE ratio of 12.78, a P/E/G ratio of 1.35 and a beta of 0.50.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The oil and gas producer reported $0.84 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.75 by $0.09. Enterprise Products Partners had a net margin of 10.79% and a return on equity of 20.67%. The firm had revenue of $18.27 billion for the quarter, compared to the consensus estimate of $13.69 billion. During the same quarter in the previous year, the company earned $0.66 EPS. The company's revenue for the quarter was up 60.8% on a year-over-year basis. Research analysts anticipate that Enterprise Products Partners will post 3.02 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Weiss Ratings lowered shares of Enterprise Products Partners from a "buy (a-)" rating to a "buy (b)" rating in a report on Friday, October 2nd. Royal Bank Of Canada reiterated an "outperform" rating and set a $42.00 price target on shares of Enterprise Products Partners in a report on Tuesday, September 22nd. TD Cowen reissued a "hold" rating and issued a $38.00 price objective (down from $39.00) on shares of Enterprise Products Partners in a research report on Monday, August 3rd. Stifel Nicolaus assumed coverage on Enterprise Products Partners in a research note on Thursday, September 10th. They issued a "hold" rating and a $40.00 price objective on the stock. Finally, JPMorgan Chase & Co. cut their target price on Enterprise Products Partners from $43.00 to $42.00 and set a "neutral" rating on the stock in a research report on Thursday. Seven equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Enterprise Products Partners currently has a consensus rating of "Hold" and a consensus target price of $40.12.

Enterprise Products Partners Company Profile

Enterprise Products Partners L.P. is a publicly traded master limited partnership that owns and operates midstream energy infrastructure in the United States. The company transports, stores, processes and exports oil, natural gas, natural gas liquids (NGLs), refined products and petrochemicals.

Its operations include pipelines, natural gas processing plants, NGL fractionation facilities, underground storage, marine terminals and export infrastructure. Enterprise serves producers, refiners, petrochemical manufacturers, utilities and other energy customers by connecting major producing regions with domestic and international markets.

Enterprise Products Partners was founded in 1968 and is headquartered in Houston, Texas.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.