Enterprise Products Partners L.P. (NYSE:EPD) to Issue Quarterly Dividend of $0.55

Enterprise Products Partners L.P. (NYSE:EPD - Get Free Report) declared a quarterly dividend on Tuesday, July 8th, RTT News reports. Investors of record on Thursday, July 31st will be given a dividend of 0.545 per share by the oil and gas producer on Thursday, August 14th. This represents a $2.18 dividend on an annualized basis and a yield of 6.81%. The ex-dividend date is Thursday, July 31st. This is a 1.9% increase from Enterprise Products Partners's previous quarterly dividend of $0.54.

Enterprise Products Partners has a payout ratio of 71.1% indicating that its dividend is sufficiently covered by earnings. 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 Trading Up 0.4%

NYSE EPD traded up $0.12 on Thursday, hitting $32.02. The company's stock had a trading volume of 2,819,664 shares, compared to its average volume of 4,485,478. The company has a quick ratio of 0.64, a current ratio of 0.86 and a debt-to-equity ratio of 0.98. Enterprise Products Partners has a 1-year low of $27.37 and a 1-year high of $34.63. The company's 50-day moving average is $31.32 and its 200 day moving average is $32.08. The firm has a market cap of $69.44 billion, a PE ratio of 11.99, a PEG ratio of 1.35 and a beta of 0.64.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.69 by ($0.05). Enterprise Products Partners had a net margin of 10.26% and a return on equity of 19.90%. The business had revenue of $15.42 billion during the quarter, compared to analyst estimates of $14.14 billion. During the same quarter last year, the company posted $0.66 earnings per share. The company's revenue was up 4.5% compared to the same quarter last year. As a group, analysts predict that Enterprise Products Partners will post 2.9 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Wall Street Zen upgraded shares of Enterprise Products Partners from a "hold" rating to a "buy" rating in a research report on Thursday, May 8th. Scotiabank upped their price objective on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the company a "sector perform" rating in a research note on Thursday, June 5th. Argus raised shares of Enterprise Products Partners to a "strong-buy" rating in a research note on Monday, May 5th. Barclays reduced their price objective on shares of Enterprise Products Partners from $36.00 to $35.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 2nd. Finally, JPMorgan Chase & Co. upped their price objective on shares of Enterprise Products Partners from $37.00 to $38.00 and gave the company an "overweight" rating in a research note on Thursday, March 27th. Five research analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Enterprise Products Partners presently has an average rating of "Moderate Buy" and a consensus price target of $36.20.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Enterprise Products Partners stock. Brighton Jones LLC raised its holdings in Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 19.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 32,620 shares of the oil and gas producer's stock after buying an additional 5,425 shares during the period. Brighton Jones LLC's holdings in Enterprise Products Partners were worth $1,023,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors 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.