Enterprise Products Partners L.P. (NYSE:EPD) Announces Dividend Increase - $0.55 Per Share

Key Points

• Enterprise Products Partners declared a quarterly dividend of $0.55 per share (ex-dividend date Jan 30, payable Feb 13), implying an annualized payout of about $2.20 and a 6.9% yield.
• The company has raised its dividend for 28 consecutive years and carries a payout ratio around 72.4%, with analysts forecasting $3.05 EPS next year—suggesting the dividend remains broadly covered.
• Recent results showed an EPS miss ($0.61 vs. $0.68) and revenue down 12.7% year-over-year, while director John R. Rutherford bought 15,000 shares (~$481k), increasing his holding by 9.46%.

Enterprise Products Partners L.P. (NYSE:EPD - Get Free Report) declared a quarterly dividend on Thursday, January 8th. Investors of record on Friday, January 30th will be paid a dividend of 0.55 per share by the oil and gas producer on Friday, February 13th. This represents a c) dividend on an annualized basis and a dividend yield of 6.9%. The ex-dividend date of this dividend is Friday, January 30th. This is a 0.9% increase from Enterprise Products Partners's previous quarterly dividend of $0.55.

Enterprise Products Partners has increased its dividend payment by an average of 0.0%annually over the last three years and has raised its dividend annually for the last 28 consecutive years. Enterprise Products Partners has a dividend payout ratio of 72.4% meaning its dividend is sufficiently covered by earnings. Research 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 $2.18 annual dividend with an expected future payout ratio of 71.5%.

Enterprise Products Partners Stock Up 0.6%

EPD opened at $31.88 on Friday. The firm has a market cap of $68.96 billion, a P/E ratio of 12.03, a price-to-earnings-growth ratio of 2.23 and a beta of 0.59. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.60 and a current ratio of 0.88. The business has a 50 day moving average price of $31.93 and a 200 day moving average price of $31.59. Enterprise Products Partners has a twelve month low of $27.77 and a twelve month high of $34.53.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last released its quarterly earnings results on Wednesday, October 29th. The oil and gas producer reported $0.61 EPS for the quarter, missing analysts' consensus estimates of $0.68 by ($0.07). Enterprise Products Partners had a net margin of 10.92% and a return on equity of 19.40%. The firm had revenue of $12.02 billion during the quarter, compared to the consensus estimate of $11.83 billion. During the same period in the prior year, the business earned $0.65 EPS. The company's revenue for the quarter was down 12.7% compared to the same quarter last year. Research analysts forecast that Enterprise Products Partners will post 2.9 EPS for the current year.

Insider Buying and Selling

In other Enterprise Products Partners news, Director John R. Rutherford purchased 15,000 shares of the firm's stock in a transaction on Monday, December 29th. The shares were purchased at an average price of $32.09 per share, for a total transaction of $481,350.00. Following the completion of the purchase, the director directly owned 173,586 shares of the company's stock, valued at approximately $5,570,374.74. This represents a 9.46% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 32.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Enterprise Products Partners

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Quantum Financial Planning Services Inc. acquired a new stake in Enterprise Products Partners during the 2nd quarter valued at $310,000. Vanguard Personalized Indexing Management LLC raised its position in shares of Enterprise Products Partners by 7.0% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 151,631 shares of the oil and gas producer's stock valued at $4,703,000 after purchasing an additional 9,979 shares during the period. Westbourne Investment Advisors Inc. bought a new position in shares of Enterprise Products Partners in the second quarter valued at about $657,000. Bridges Investment Management Inc. boosted its holdings in shares of Enterprise Products Partners by 5.9% during the 2nd quarter. Bridges Investment Management Inc. now owns 203,738 shares of the oil and gas producer's stock worth $6,318,000 after buying an additional 11,375 shares during the period. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT grew its stake in Enterprise Products Partners by 1.6% in the 2nd quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,957,500 shares of the oil and gas producer's stock valued at $60,702,000 after buying an additional 31,652 shares during the last quarter. 26.07% of the stock is owned by institutional investors.

About Enterprise Products Partners

Enterprise Products Partners L.P. NYSE: EPD is a Houston-based master limited partnership that provides midstream energy services across North America. The company owns and operates an extensive network of pipelines, storage facilities, processing plants and export terminals that transport and handle natural gas, natural gas liquids (NGLs), crude oil and refined and petrochemical products. Its core activities include gathering and transportation, fractionation of NGLs, natural gas processing, crude oil and condensate pipelines, and marine and terminal services that enable domestic distribution and exports.

Enterprise serves a diverse set of customers including producers, refiners, petrochemical companies, marketers and end users.

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