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

Enterprise Products Partners L.P. (NYSE:EPD - Get Free Report) announced a quarterly dividend on Tuesday, July 8th, RTT News reports. Shareholders of record on Thursday, July 31st will be paid 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 dividend payout ratio of 71.1% 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 $2.14 annual dividend with an expected future payout ratio of 70.2%.

Enterprise Products Partners Stock Down 0.1%

EPD traded down $0.05 during midday trading on Friday, reaching $32.01. 1,882,736 shares of the company were exchanged, compared to its average volume of 4,475,584. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.64 and a current ratio of 0.86. The company's fifty day moving average price is $31.36 and its 200 day moving average price is $32.09. The company has a market cap of $69.42 billion, a price-to-earnings ratio of 11.99, a price-to-earnings-growth ratio of 1.35 and a beta of 0.64. Enterprise Products Partners has a one year low of $27.37 and a one year high of $34.63.

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

Institutional Investors Weigh In On Enterprise Products Partners

An institutional investor recently raised its position in Enterprise Products Partners stock. Brighton Jones LLC raised its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD - Free Report) by 19.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm 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 as of its most recent filing with the Securities and Exchange Commission (SEC). 26.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. JPMorgan Chase & Co. boosted their target price on Enterprise Products Partners from $37.00 to $38.00 and gave the stock an "overweight" rating in a research note on Thursday, March 27th. Barclays cut their target price on 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. Citigroup cut their target price on Enterprise Products Partners from $37.00 to $35.00 and set a "buy" rating on the stock in a research note on Tuesday, May 13th. Wall Street Zen upgraded Enterprise Products Partners from a "hold" rating to a "buy" rating in a research note on Thursday, May 8th. Finally, Argus upgraded Enterprise Products Partners to a "strong-buy" rating in a research note on Monday, May 5th. Five research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $36.36.

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.