Enterprise Products Partners L.P. (NYSE:EPD) Declares $0.52 Quarterly Dividend

Enterprise Products Partners L.P. (NYSE:EPD - Get Free Report) declared a quarterly dividend on Friday, April 5th, RTT News reports. Stockholders of record on Tuesday, April 30th will be given a dividend of 0.515 per share by the oil and gas producer on Tuesday, May 14th. This represents a $2.06 annualized dividend and a dividend yield of 6.93%.

Enterprise Products Partners has raised its dividend by an average of 3.6% annually 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 72.5% meaning its dividend is sufficiently covered by earnings. Analysts expect Enterprise Products Partners to earn $2.77 per share next year, which means the company should continue to be able to cover its $2.06 annual dividend with an expected future payout ratio of 74.4%.

Enterprise Products Partners Price Performance

NYSE:EPD traded down $0.07 on Friday, reaching $29.71. The stock had a trading volume of 4,369,119 shares, compared to its average volume of 4,953,251. The company has a market capitalization of $64.41 billion, a P/E ratio of 11.70 and a beta of 1.02. Enterprise Products Partners has a 1-year low of $25.19 and a 1-year high of $29.99. The company has a quick ratio of 0.68, a current ratio of 0.93 and a debt-to-equity ratio of 0.95. The stock has a fifty day moving average price of $27.86 and a 200-day moving average price of $27.13.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last issued its quarterly earnings results on Thursday, February 1st. The oil and gas producer reported $0.72 earnings per share for the quarter, beating analysts' consensus estimates of $0.68 by $0.04. The business had revenue of $14.62 billion during the quarter, compared to analyst estimates of $12.43 billion. Enterprise Products Partners had a net margin of 11.12% and a return on equity of 19.65%. Enterprise Products Partners's revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.65 earnings per share. Research analysts forecast that Enterprise Products Partners will post 2.64 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on EPD shares. Wells Fargo & Company raised their price objective on shares of Enterprise Products Partners from $32.00 to $33.00 and gave the company an "overweight" rating in a research note on Thursday. Barclays boosted their price objective on shares of Enterprise Products Partners from $30.00 to $31.00 and gave the company an "overweight" rating in a research report on Tuesday, March 26th. Stifel Nicolaus lifted their price target on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the company a "buy" rating in a research note on Friday, February 2nd. Truist Financial lifted their price target on shares of Enterprise Products Partners from $31.00 to $33.00 and gave the company a "buy" rating in a research note on Wednesday, February 21st. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $35.00 price target on shares of Enterprise Products Partners in a research note on Friday. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $32.58.

Institutional Trading of Enterprise Products Partners

Institutional investors have recently bought and sold shares of the business. Fairfield Bush & CO. bought a new stake in shares of Enterprise Products Partners during the 2nd quarter worth approximately $26,000. Pacific Center for Financial Services acquired a new position in Enterprise Products Partners during the 1st quarter worth approximately $27,000. Financial Freedom LLC acquired a new position in Enterprise Products Partners during the 4th quarter worth approximately $38,000. Main Street Group LTD acquired a new position in Enterprise Products Partners during the 4th quarter worth approximately $46,000. Finally, Compass Wealth Management LLC acquired a new position in Enterprise Products Partners during the 4th quarter worth approximately $52,000. 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.