Enterprise Products Partners L.P. (NYSE:EPD) to Issue Quarterly Dividend of $0.54

Enterprise Products Partners L.P. (NYSE:EPD - Get Free Report) declared a quarterly dividend on Wednesday, January 8th,RTT News reports. Investors of record on Friday, January 31st will be paid a dividend of 0.535 per share by the oil and gas producer on Friday, February 14th. This represents a $2.14 annualized dividend and a yield of 6.60%. This is an increase from Enterprise Products Partners's previous quarterly dividend of $0.53.

Enterprise Products Partners has raised its dividend payment by an average of 4.9% per year over the last three years and has increased its dividend annually for the last 27 consecutive years. Enterprise Products Partners has a payout ratio of 69.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Enterprise Products Partners to earn $2.84 per share next year, which means the company should continue to be able to cover its $2.10 annual dividend with an expected future payout ratio of 73.9%.

Enterprise Products Partners Stock Up 1.5 %

NYSE EPD traded up $0.49 during midday trading on Wednesday, hitting $32.42. 3,726,075 shares of the company traded hands, compared to its average volume of 3,325,264. The company has a market cap of $70.27 billion, a PE ratio of 12.14, a price-to-earnings-growth ratio of 1.67 and a beta of 1.09. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.07 and a quick ratio of 0.83. Enterprise Products Partners has a 52 week low of $26.12 and a 52 week high of $34.63. The company's 50-day simple moving average is $31.58 and its 200-day simple moving average is $30.03.

Enterprise Products Partners (NYSE:EPD - Get Free Report) last posted its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.01). The company had revenue of $13.78 billion during the quarter, compared to analysts' expectations of $13.87 billion. Enterprise Products Partners had a net margin of 10.32% and a return on equity of 20.31%. Enterprise Products Partners's revenue for the quarter was up 14.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.60 EPS. As a group, equities research analysts forecast that Enterprise Products Partners will post 2.69 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Wells Fargo & Company lowered shares of Enterprise Products Partners from an "overweight" rating to an "equal weight" rating and set a $35.00 price target on the stock. in a report on Wednesday, December 18th. US Capital Advisors raised Enterprise Products Partners from a "moderate buy" rating to a "strong-buy" rating in a research report on Monday, October 28th. Royal Bank of Canada restated an "outperform" rating and set a $36.00 price target on shares of Enterprise Products Partners in a research note on Wednesday, October 30th. Bank of America began coverage on shares of Enterprise Products Partners in a report on Thursday, October 17th. They set a "buy" rating and a $35.00 price objective on the stock. Finally, Truist Financial lifted their target price on shares of Enterprise Products Partners from $37.00 to $40.00 and gave the stock a "buy" rating in a research note on Friday, January 3rd. Two investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Enterprise Products Partners has a consensus rating of "Moderate Buy" and a consensus price target of $34.50.

About Enterprise Products Partners

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.